Advisors Preferred LLC Invests $706,000 in PennyMac Mortgage Investment Trust (NYSE:PMT)

Advisors Preferred LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 48,290 shares of the real estate investment trust's stock, valued at approximately $706,000. Advisors Preferred LLC owned about 0.06% of PennyMac Mortgage Investment Trust as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of PMT. Motiv8 Investments LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 13.1% during the 1st quarter. Motiv8 Investments LLC now owns 11,547 shares of the real estate investment trust's stock worth $169,000 after purchasing an additional 1,333 shares during the period. GAMMA Investing LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 204.0% during the 1st quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 1,363 shares during the period. QRG Capital Management Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 8.3% during the 1st quarter. QRG Capital Management Inc. now owns 25,673 shares of the real estate investment trust's stock worth $376,000 after purchasing an additional 1,974 shares during the period. Sterling Capital Management LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 8.6% during the 4th quarter. Sterling Capital Management LLC now owns 31,534 shares of the real estate investment trust's stock worth $397,000 after purchasing an additional 2,484 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth approximately $36,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Trading Down 2.9%

NYSE PMT traded down $0.38 during trading on Friday, hitting $12.40. The stock had a trading volume of 1,286,001 shares, compared to its average volume of 901,701. The company has a market capitalization of $1.08 billion, a PE ratio of 17.22, a PEG ratio of 1.61 and a beta of 1.24. The company has a quick ratio of 0.63, a current ratio of 0.55 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average price of $12.63 and a 200 day moving average price of $13.17. PennyMac Mortgage Investment Trust has a twelve month low of $11.77 and a twelve month high of $14.93.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.39). PennyMac Mortgage Investment Trust had a return on equity of 7.68% and a net margin of 34.65%. The company had revenue of $70.20 million for the quarter, compared to analyst estimates of $95.46 million. As a group, equities research analysts forecast 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 declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 12.91%. The ex-dividend date of this dividend was Friday, July 11th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is 222.22%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PMT. Wells Fargo & Company dropped their price objective on shares of PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Jones Trading reaffirmed a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. UBS Group dropped their price objective on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut shares of PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $14.50 to $13.50 in a research note on Friday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $14.00.

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.