Handelsbanken Fonder AB Has $468,000 Stake in PennyMac Mortgage Investment Trust (NYSE:PMT)

Handelsbanken Fonder AB boosted its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 26.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,811 shares of the real estate investment trust’s stock after acquiring an additional 6,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in PennyMac Mortgage Investment Trust were worth $468,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PMT. SG Americas Securities LLC bought a new stake in PennyMac Mortgage Investment Trust in the third quarter worth approximately $599,000. Dana Investment Advisors Inc. boosted its holdings in PennyMac Mortgage Investment Trust by 40.7% in the second quarter. Dana Investment Advisors Inc. now owns 427,941 shares of the real estate investment trust’s stock worth $5,884,000 after purchasing an additional 123,890 shares in the last quarter. Cetera Investment Advisers increased its position in PennyMac Mortgage Investment Trust by 2.2% during the second quarter. Cetera Investment Advisers now owns 72,125 shares of the real estate investment trust’s stock worth $992,000 after buying an additional 1,553 shares during the last quarter. Truist Financial Corp bought a new position in PennyMac Mortgage Investment Trust during the second quarter valued at about $407,000. Finally, Mackenzie Financial Corp lifted its position in shares of PennyMac Mortgage Investment Trust by 19.6% in the second quarter. Mackenzie Financial Corp now owns 22,853 shares of the real estate investment trust’s stock worth $314,000 after buying an additional 3,751 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

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 on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total value of $518,510.10. Following the sale, the director now owns 49,114 shares of the company’s stock, valued at $688,087.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders bought a total of 2,879 shares of company stock valued at $39,028 over the last ninety days. 0.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

PennyMac Mortgage Investment Trust Price Performance

NYSE:PMT opened at $13.92 on Monday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market cap of $1.21 billion, a P/E ratio of 9.28 and a beta of 1.51. The company has a fifty day moving average price of $13.95 and a 200 day moving average price of $14.00. PennyMac Mortgage Investment Trust has a one year low of $10.52 and a one year high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $71.20 million for the quarter, compared to analyst estimates of $90.26 million. During the same period in the prior year, the company posted $0.16 EPS. Analysts anticipate that PennyMac Mortgage Investment Trust will post 1.28 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.49%. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

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.