Dark Forest Capital Management LP Purchases New Shares in PennyMac Mortgage Investment Trust (NYSE:PMT)

Dark Forest Capital Management LP purchased a new position in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 55,253 shares of the real estate investment trust's stock, valued at approximately $696,000. Dark Forest Capital Management LP owned about 0.06% of PennyMac Mortgage Investment Trust as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PMT. Wilmington Savings Fund Society FSB bought a new stake in shares of PennyMac Mortgage Investment Trust in the third quarter worth about $28,000. Rialto Wealth Management LLC bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at $25,000. Versant Capital Management Inc boosted its stake in shares of PennyMac Mortgage Investment Trust by 58.0% during the 4th quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 822 shares in the last quarter. Principal Securities Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 2,042.9% during the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 2,288 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in PennyMac Mortgage Investment Trust in the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 67.38% of the company's stock.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE PMT traded down $0.02 during trading on Wednesday, reaching $12.82. 175,452 shares of the company traded hands, compared to its average volume of 819,300. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $13.84 and a 200-day simple moving average of $13.46. PennyMac Mortgage Investment Trust has a 52-week low of $11.77 and a 52-week high of $15.22. The stock has a market capitalization of $1.11 billion, a PE ratio of 9.64 and a beta of 1.17.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.39). PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. The company had revenue of $44.47 million during the quarter, compared to the consensus estimate of $94.36 million. During the same period last year, the firm posted $0.39 EPS. Equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 12.48%. PennyMac Mortgage Investment Trust's dividend payout ratio is currently 172.04%.

Analyst Ratings Changes

PMT has been the subject of a number of research reports. Jones Trading reiterated a "hold" rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. JMP Securities reissued a "market outperform" rating and set a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods cut their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, UBS Group dropped their price target on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $14.75.

Insiders Place Their Bets

In related news, Director Catherine A. Lynch purchased 2,878 shares of the business's stock in a transaction on Thursday, April 24th. The stock was acquired at an average price of $12.15 per share, with a total value of $34,967.70. Following the completion of the acquisition, the director now owns 49,254 shares of the company's stock, valued at approximately $598,436.10. This trade represents a 6.21 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Doug Jones sold 14,530 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the sale, the director now owns 64,082 shares of the company's stock, valued at approximately $929,189. The trade was a 18.48 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.89% of the company's stock.

PennyMac Mortgage Investment Trust Company 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.