PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,720 shares of the real estate investment trust’s stock after purchasing an additional 1,827 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in PennyMac Mortgage Investment Trust were worth $601,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Roble Belko & Company Inc purchased a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter worth about $29,000. EntryPoint Capital LLC increased its position in PennyMac Mortgage Investment Trust by 251.8% during the 1st quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 5,015 shares in the last quarter. Entropy Technologies LP purchased a new position in PennyMac Mortgage Investment Trust in the first quarter valued at approximately $149,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in PennyMac Mortgage Investment Trust during the first quarter valued at approximately $157,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in PennyMac Mortgage Investment Trust during the second quarter valued at approximately $177,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE PMT opened at $14.00 on Wednesday. The business has a 50 day moving average price of $13.98 and a two-hundred day moving average price of $13.99. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.52 and a fifty-two week high of $15.89. The firm has a market cap of $1.22 billion, a PE ratio of 9.33 and a beta of 1.51. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.17). The company had revenue of $71.20 million during the quarter, compared to the consensus estimate of $90.26 million. PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. During the same quarter last year, the firm posted $0.16 EPS. Sell-side analysts expect that PennyMac Mortgage Investment Trust will post 1.28 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 dividend yield of 11.43%. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

Insider Buying and Selling

In related news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 49,114 shares of the company’s stock, valued at approximately $688,087.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders bought 2,879 shares of company stock worth $39,028. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.