Stifel Financial Corp Boosts Stake in PennyMac Mortgage Investment Trust (NYSE:PMT)

Stifel Financial Corp lifted its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 169.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,301 shares of the real estate investment trust’s stock after buying an additional 21,580 shares during the period. Stifel Financial Corp’s holdings in PennyMac Mortgage Investment Trust were worth $489,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its stake in PennyMac Mortgage Investment Trust by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust’s stock valued at $601,000 after acquiring an additional 800 shares during the period. Bank of New York Mellon Corp lifted its position in PennyMac Mortgage Investment Trust by 1.2% during the second 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. Allspring Global Investments Holdings LLC purchased a new stake in PennyMac Mortgage Investment Trust in the second quarter worth approximately $177,000. Commonwealth Equity Services LLC boosted its holdings in PennyMac Mortgage Investment Trust by 56.9% in the second quarter. Commonwealth Equity Services LLC now owns 63,423 shares of the real estate investment trust’s stock worth $872,000 after purchasing an additional 22,988 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in 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 during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wedbush reissued a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.17.

PennyMac Mortgage Investment Trust Stock Down 0.5 %

Shares of PMT stock opened at $13.00 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. PennyMac Mortgage Investment Trust has a 12 month low of $12.80 and a 12 month high of $15.89. The stock has a market cap of $1.13 billion, a P/E ratio of 9.56 and a beta of 1.50. The company has a 50 day simple moving average of $13.41 and a two-hundred day simple moving average of $13.76.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $80.86 million during the quarter, compared to analysts’ expectations of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same quarter last year, the company earned $0.51 earnings per share. On average, research analysts expect that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, December 27th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 12.31%. The ex-dividend date is Friday, December 27th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 117.65%.

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.