Charles Schwab Investment Management Inc. Boosts Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Charles Schwab Investment Management Inc. boosted its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,520,394 shares of the real estate investment trust’s stock after acquiring an additional 63,781 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $19,142,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in PennyMac Mortgage Investment Trust by 18.2% during the third 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in PennyMac Mortgage Investment Trust by 90.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,436 shares of the real estate investment trust’s stock valued at $2,487,000 after acquiring an additional 82,735 shares during the last quarter. Citigroup Inc. increased its position in PennyMac Mortgage Investment Trust by 43.2% during the third quarter. Citigroup Inc. now owns 407,660 shares of the real estate investment trust’s stock valued at $5,813,000 after acquiring an additional 123,079 shares during the last quarter. Barclays PLC increased its position in PennyMac Mortgage Investment Trust by 218.7% during the third quarter. Barclays PLC now owns 148,734 shares of the real estate investment trust’s stock valued at $2,121,000 after acquiring an additional 102,067 shares during the last quarter. Finally, K2 Principal Fund L.P. purchased a new stake in PennyMac Mortgage Investment Trust during the third quarter valued at $5,841,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT opened at $14.64 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $13.61 and a two-hundred day simple moving average of $13.60. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 11.01 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 52 week low of $11.77 and a 52 week high of $15.22.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. On average, analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 10.93%. The ex-dividend date of this dividend is Friday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 120.30%.

Insider Buying and Selling

In related news, Director Doug Jones sold 14,530 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total transaction of $210,685.00. Following the completion of the sale, the director now owns 64,082 shares in the company, valued at approximately $929,189. This trade represents a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, JMP Securities restated a “market outperform” rating and issued a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, PennyMac Mortgage Investment Trust presently has a consensus rating of “Moderate Buy” and an average price target of $15.20.

PennyMac Mortgage Investment Trust Profile

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.