Proficio Capital Partners LLC Buys Shares of 11,054 PennyMac Mortgage Investment Trust (NYSE:PMT)

Proficio Capital Partners LLC purchased a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in the fourth quarter, Holdings Channel.com reports. The firm purchased 11,054 shares of the real estate investment trust’s stock, valued at approximately $139,000.

Several other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of PennyMac Mortgage Investment Trust during the 3rd quarter valued at $28,000. Versant Capital Management Inc increased its position in PennyMac Mortgage Investment Trust by 58.0% during the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 822 shares during the last quarter. Principal Securities Inc. raised its holdings in PennyMac Mortgage Investment Trust by 2,042.9% during the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 2,288 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth about $39,000. Finally, Motiv8 Investments LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth about $129,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market outperform” rating and issued a $15.50 target price 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

PennyMac Mortgage Investment Trust Stock Performance

PMT stock opened at $14.65 on Friday. The firm has a market cap of $1.27 billion, a PE ratio of 11.01 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 current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $13.94 and its two-hundred day moving average price is $13.64.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data 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 net margin of 48.17% and a return on equity of 11.48%. As a group, research analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.92%. PennyMac Mortgage Investment Trust’s payout ratio is presently 120.30%.

Insider Activity

In other news, Director Doug Jones sold 14,530 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total transaction of $210,685.00. Following the completion of the transaction, the director now directly owns 64,082 shares in the company, valued at approximately $929,189. This represents a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Company 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.