Bank of America Corp DE raised its position in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 154.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 412,512 shares of the real estate investment trust's stock after acquiring an additional 250,160 shares during the period. Bank of America Corp DE owned approximately 0.47% of PennyMac Mortgage Investment Trust worth $4,810,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Evergreen Capital Management LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 8.0% in the fourth quarter. Evergreen Capital Management LLC now owns 12,417 shares of the real estate investment trust's stock valued at $161,000 after buying an additional 915 shares in the last quarter. Collar Capital Management LLC increased its position in shares of PennyMac Mortgage Investment Trust by 1.2% during the fourth quarter. Collar Capital Management LLC now owns 90,615 shares of the real estate investment trust's stock worth $1,137,000 after acquiring an additional 1,100 shares in the last quarter. Wedbush Securities Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 1.3% during the fourth quarter. Wedbush Securities Inc. now owns 90,310 shares of the real estate investment trust's stock worth $1,133,000 after acquiring an additional 1,125 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of PennyMac Mortgage Investment Trust by 142.1% in the 1st quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 1,285 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in PennyMac Mortgage Investment Trust by 1.3% in the 1st quarter. Intech Investment Management LLC now owns 109,272 shares of the real estate investment trust's stock valued at $1,601,000 after acquiring an additional 1,411 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
PMT has been the subject of a number of recent research reports. UBS Group decreased their price objective on PennyMac Mortgage Investment Trust from $11.25 to $10.00 and set a "neutral" rating for the company in a report on Friday, August 21st. Wells Fargo & Company lowered their target price on shares of PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Friday, July 31st. Zacks Research downgraded shares of PennyMac Mortgage Investment Trust from a "hold" rating to a "strong sell" rating in a research report on Wednesday, May 27th. Wall Street Zen downgraded PennyMac Mortgage Investment Trust from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $12.00 price target (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $11.50.
Read Our Latest Report on PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust Stock Performance
NYSE PMT opened at $9.36 on Friday. PennyMac Mortgage Investment Trust has a 1 year low of $9.05 and a 1 year high of $13.81. The company has a debt-to-equity ratio of 9.18, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market capitalization of $816.19 million, a PE ratio of 6.59, a P/E/G ratio of 0.69 and a beta of 1.14. The company's 50 day simple moving average is $9.89 and its two-hundred day simple moving average is $10.87.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.07). The firm had revenue of ($46.00) million during the quarter, compared to the consensus estimate of $93.93 million. PennyMac Mortgage Investment Trust had a return on equity of 12.50% and a net margin of 47.79%. Analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Thursday, July 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 17.1%. The ex-dividend date was Thursday, July 9th. PennyMac Mortgage Investment Trust's payout ratio is presently 112.68%.
About PennyMac Mortgage Investment Trust
(
Free Report)
PennyMac Mortgage Investment Trust NYSE: PMT is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.
Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor's mortgage servicing, underwriting and capital markets expertise.
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