Sei Investments Co. Sells 1,043 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Sei Investments Co. trimmed its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 4.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,241 shares of the real estate investment trust’s stock after selling 1,043 shares during the period. Sei Investments Co.’s holdings in PennyMac Mortgage Investment Trust were worth $333,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in PennyMac Mortgage Investment Trust in the second quarter worth approximately $236,000. Inspire Investing LLC lifted its holdings in shares of 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 purchasing an additional 1,144 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in PennyMac Mortgage Investment Trust in the 2nd quarter valued at $262,000. Wolverine Asset Management LLC increased its stake in PennyMac Mortgage Investment Trust by 781.5% during the 2nd quarter. Wolverine Asset Management LLC now owns 224,113 shares of the real estate investment trust’s stock valued at $3,082,000 after purchasing an additional 198,688 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in PennyMac Mortgage Investment Trust by 34.4% during the second quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock worth $8,554,000 after buying an additional 159,131 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

PennyMac Mortgage Investment Trust Stock Performance

PMT stock opened at $14.26 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.51. The firm has a market cap of $1.24 billion, a PE ratio of 9.51 and a beta of 1.51. The business has a 50 day moving average of $13.93 and a 200-day moving average of $14.01. PennyMac Mortgage Investment Trust has a 12-month low of $10.52 and a 12-month high of $15.89.

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

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 11.22%. PennyMac Mortgage Investment Trust’s payout ratio is currently 106.67%.

Insider Buying and Selling

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total value of $518,510.10. Following the transaction, the director now directly owns 49,114 shares in the company, valued at $688,087.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders purchased 2,879 shares of company stock worth $39,028. Insiders own 0.89% of the company’s stock.

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.