Bank of New York Mellon Corp Trims Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Bank of New York Mellon Corp trimmed its position in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 681,164 shares of the real estate investment trust's stock after selling 26,296 shares during the quarter. Bank of New York Mellon Corp owned about 0.78% of PennyMac Mortgage Investment Trust worth $9,979,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 2.5% during the first quarter. Principal Financial Group Inc. now owns 549,340 shares of the real estate investment trust's stock valued at $8,048,000 after buying an additional 13,441 shares during the last quarter. Motiv8 Investments LLC lifted its holdings 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 valued at $169,000 after purchasing an additional 1,333 shares during the last quarter. TrueMark Investments LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at $3,106,000. QRG Capital Management Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 8.3% during the first quarter. QRG Capital Management Inc. now owns 25,673 shares of the real estate investment trust's stock valued at $376,000 after buying an additional 1,974 shares during the last quarter. Finally, GraniteShares Advisors LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 6.4% during the first quarter. GraniteShares Advisors LLC now owns 208,116 shares of the real estate investment trust's stock valued at $3,049,000 after buying an additional 12,610 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock traded down $0.38 during midday trading on Friday, reaching $12.40. The company 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 P/E ratio of 17.22, a P/E/G ratio of 1.66 and a beta of 1.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.55 and a quick ratio of 0.63. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $14.93. The firm's fifty day simple moving average is $12.63 and its 200-day simple moving average is $13.17.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.39). The company had revenue of $70.20 million during the quarter, compared to analyst estimates of $95.46 million. PennyMac Mortgage Investment Trust had a net margin of 34.65% and a return on equity of 7.68%. As a group, equities analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be issued a $0.40 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.91%. PennyMac Mortgage Investment Trust's payout ratio is 222.22%.

Wall Street Analyst Weigh In

PMT has been the topic of a number of research analyst reports. Jones Trading reissued a "hold" rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. Wells Fargo & Company lowered their target price 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. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $13.50 target price (down from $14.50) on shares of PennyMac Mortgage Investment Trust in a research note on Friday. Finally, UBS Group lowered their target price 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. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $14.00.

About PennyMac Mortgage Investment Trust

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.