Deerfield Management Company L.P. Series C Increases Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Deerfield Management Company L.P. Series C lifted its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 25.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,505 shares of the real estate investment trust’s stock after buying an additional 10,100 shares during the quarter. Deerfield Management Company L.P. Series C owned approximately 0.06% of PennyMac Mortgage Investment Trust worth $694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Louisiana State Employees Retirement System increased its stake in PennyMac Mortgage Investment Trust by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust’s stock worth $601,000 after purchasing an additional 800 shares during the period. Inspire Investing LLC increased its stake in PennyMac Mortgage Investment Trust by 4.7% in the 2nd quarter. Inspire Investing LLC now owns 25,564 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 1,144 shares during the period. Texas Permanent School Fund Corp increased its stake in PennyMac Mortgage Investment Trust by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 75,812 shares of the real estate investment trust’s stock worth $1,113,000 after buying an additional 1,179 shares during the period. ProShare Advisors LLC lifted its holdings in PennyMac Mortgage Investment Trust by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust’s stock valued at $257,000 after buying an additional 1,207 shares in the last quarter. Finally, Roble Belko & Company Inc purchased a new stake in PennyMac Mortgage Investment Trust in the 1st quarter valued at about $29,000. 67.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PMT. Wedbush reaffirmed a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, July 25th. Piper Sandler lowered their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a report on Wednesday, July 24th. B. Riley restated a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. JMP Securities lifted their price objective on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.93.

PennyMac Mortgage Investment Trust Trading Up 0.4 %

Shares of NYSE PMT opened at $14.14 on Friday. PennyMac Mortgage Investment Trust has a 1-year low of $10.52 and a 1-year high of $15.89. The business has a fifty day moving average price of $13.87 and a 200 day moving average price of $14.01. The stock has a market capitalization of $1.23 billion, a P/E ratio of 9.43 and a beta of 1.51. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.33 and a quick ratio of 0.33.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.17). PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. The firm had revenue of $71.20 million for the quarter, compared to analysts’ expectations of $90.26 million. During the same period in the previous year, the company posted $0.16 earnings per share. Equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.27 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.32%. The ex-dividend date of this dividend is Friday, October 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 106.67%.

Insider Transactions at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total transaction of $518,510.10. Following the transaction, the director now directly owns 49,114 shares in the company, valued at approximately $688,087.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders have acquired 2,879 shares of company stock valued at $39,028. Corporate insiders own 0.89% of the company’s stock.

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.