Wilmington Savings Fund Society FSB Buys Shares of 1,938 PennyMac Mortgage Investment Trust (NYSE:PMT)

Wilmington Savings Fund Society FSB acquired a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,938 shares of the real estate investment trust’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PMT. Geode Capital Management LLC increased its stake in PennyMac Mortgage Investment Trust by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,021,922 shares of the real estate investment trust’s stock valued at $28,838,000 after buying an additional 31,479 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in PennyMac Mortgage Investment Trust by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,456,613 shares of the real estate investment trust’s stock worth $20,771,000 after acquiring an additional 18,368 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in PennyMac Mortgage Investment Trust by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 792,354 shares of the real estate investment trust’s stock valued at $10,895,000 after acquiring an additional 9,506 shares during the last quarter. Van ECK Associates Corp lifted its stake in PennyMac Mortgage Investment Trust by 34.4% in the second quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock valued at $8,554,000 after acquiring an additional 159,131 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 18.2% in the 3rd quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock valued at $7,221,000 after acquiring an additional 77,955 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Price Performance

NYSE:PMT opened at $12.90 on Tuesday. The company has a market cap of $1.12 billion, a P/E ratio of 9.49 and a beta of 1.50. The firm’s fifty day moving average price is $13.50 and its two-hundred day moving average price is $13.78. PennyMac Mortgage Investment Trust has a one year low of $12.80 and a one year high of $15.89. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. The company had revenue of $80.86 million during the quarter, compared to analyst estimates of $93.75 million. During the same quarter last year, the company posted $0.51 EPS. Equities analysts expect that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, December 27th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 12.40%. The ex-dividend date is Friday, December 27th. PennyMac Mortgage Investment Trust’s dividend payout ratio is 117.65%.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust presently has a consensus rating of “Moderate Buy” and an average target price of $15.17.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.