Cetera Investment Advisers Purchases 1,553 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Cetera Investment Advisers grew its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,125 shares of the real estate investment trust’s stock after purchasing an additional 1,553 shares during the period. Cetera Investment Advisers’ holdings in PennyMac Mortgage Investment Trust were worth $992,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PMT. Bank of New York Mellon Corp increased its holdings in PennyMac Mortgage Investment Trust by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 792,354 shares of the real estate investment trust’s stock valued at $10,895,000 after purchasing an additional 9,506 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of PennyMac Mortgage Investment Trust by 4.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 643,252 shares of the real estate investment trust’s stock worth $9,443,000 after acquiring an additional 28,121 shares during the period. Van ECK Associates Corp boosted its position in shares of PennyMac Mortgage Investment Trust by 34.4% in the 2nd quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock worth $8,554,000 after purchasing an additional 159,131 shares in the last quarter. Jane Street Group LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 124.7% in the 1st quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust’s stock worth $4,277,000 after purchasing an additional 161,723 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 223.1% in the 2nd quarter. Millennium Management LLC now owns 232,576 shares of the real estate investment trust’s stock worth $3,198,000 after purchasing an additional 160,595 shares in the last quarter. Hedge funds and other 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 PennyMac Mortgage Investment Trust 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 transaction, the director now directly owns 49,114 shares in the company, valued at approximately $688,087.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have purchased 2,879 shares of company stock worth $39,028 in the last ninety days. 0.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

PennyMac Mortgage Investment Trust Stock Performance

PennyMac Mortgage Investment Trust stock opened at $14.09 on Friday. 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 $1.22 billion, a price-to-earnings ratio of 9.39 and a beta of 1.51. The firm has a 50 day simple moving average of $14.01 and a 200-day simple moving average of $13.99. PennyMac Mortgage Investment Trust has a 1-year low of $10.52 and a 1-year high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued 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 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 business earned $0.16 EPS. On average, analysts expect that PennyMac Mortgage Investment Trust will post 1.28 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

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 paid a dividend of $0.40 per share. The ex-dividend date is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 11.36%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 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.