Amundi Increases Stake in PennyMac Mortgage Investment Trust (NYSE:PMT)

Amundi lifted its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 169.7% in the fourth quarter, HoldingsChannel reports. The firm owned 41,977 shares of the real estate investment trust’s stock after purchasing an additional 26,411 shares during the quarter. Amundi’s holdings in PennyMac Mortgage Investment Trust were worth $521,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Rialto Wealth Management LLC purchased a new position in PennyMac Mortgage Investment Trust during the fourth quarter worth $25,000. Versant Capital Management Inc raised its holdings in shares of PennyMac Mortgage Investment Trust by 58.0% in the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 822 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in PennyMac Mortgage Investment Trust in the third quarter valued at about $28,000. Principal Securities Inc. grew its stake in PennyMac Mortgage Investment Trust by 2,042.9% in the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,288 shares during the last quarter. Finally, Allworth Financial LP acquired a new stake in PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $39,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total transaction of $210,685.00. Following the transaction, the director now owns 64,082 shares of the company’s stock, valued at $929,189. The trade was a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.89% of the stock is currently owned by company insiders.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $14.77 on Friday. The company’s 50 day simple moving average is $13.66 and its 200-day simple moving average is $13.60. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 11.10 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 1 year low of $11.77 and a 1 year high of $15.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. As a group, equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 10.84%. The ex-dividend date is Friday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 120.30%.

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.