154,905 Shares in PennyMac Mortgage Investment Trust $PMT Bought by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 154,905 shares of PennyMac Mortgage Investment Trust, valued at approximately $1.75 million, while institutional investors collectively own 67.38% of PMT.
• PMT shares opened at $8.45, near their 52-week low of $8.44, after the company missed quarterly earnings expectations with EPS of $0.23 versus the $0.30 consensus estimate.
• The company declared a quarterly dividend of $0.40 per share, implying an annualized yield of 18.9%; analysts have an average “Hold” rating and a consensus price target of $11.50.

Corient Private Wealth LP bought a new position in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 154,905 shares of the real estate investment trust's stock, valued at approximately $1,747,000. Corient Private Wealth LP owned approximately 0.18% of PennyMac Mortgage Investment Trust as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust during the 2nd quarter valued at $164,344,000. Royal Bank of Canada boosted its stake in PennyMac Mortgage Investment Trust by 1,469.4% during the first quarter. Royal Bank of Canada now owns 642,149 shares of the real estate investment trust's stock worth $7,488,000 after acquiring an additional 601,233 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in PennyMac Mortgage Investment Trust during the second quarter worth about $6,137,000. Principal Financial Group Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 2.0% during the first quarter. Principal Financial Group Inc. now owns 422,973 shares of the real estate investment trust's stock valued at $4,932,000 after purchasing an additional 8,234 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of PennyMac Mortgage Investment Trust by 154.1% during the first quarter. Bank of America Corp DE now owns 412,512 shares of the real estate investment trust's stock valued at $4,810,000 after purchasing an additional 250,160 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT opened at $8.45 on Friday. PennyMac Mortgage Investment Trust has a twelve month low of $8.44 and a twelve month high of $13.81. The company has a market capitalization of $737.19 million, a P/E ratio of 5.95, a price-to-earnings-growth ratio of 0.67 and a beta of 1.14. The firm has a 50 day moving average of $9.39 and a 200 day moving average of $10.45. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 9.18.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.07). PennyMac Mortgage Investment Trust had a net margin of 47.79% and a return on equity of 12.50%. The business had revenue of ($46.00) million during the quarter, compared to the consensus estimate of $93.93 million. As a group, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.03 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Thursday, October 8th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 18.9%. The ex-dividend date of this dividend is Thursday, October 8th. PennyMac Mortgage Investment Trust's dividend payout ratio is presently 112.68%.

Analyst Ratings Changes

PMT has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an "equal weight" rating for the company in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft raised PennyMac Mortgage Investment Trust from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a report on Saturday, August 15th. UBS Group cut their target price on PennyMac Mortgage Investment Trust from $11.25 to $10.00 and set a "neutral" rating on the stock in a research note on Friday, August 21st. Piper Sandler reduced their price target on PennyMac Mortgage Investment Trust from $11.50 to $10.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of PennyMac Mortgage Investment Trust in a research report on Tuesday, August 18th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $11.50.

About PennyMac Mortgage Investment Trust

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