90,881 Shares in PennyMac Mortgage Investment Trust $PMT Acquired by Caxton Associates LLP

Key Points

• Caxton Associates LLP has acquired a new stake in PennyMac Mortgage Investment Trust, purchasing 90,881 shares valued at approximately $1,331,000, which represents about 0.10% of the company's stock.
• Recent ratings from analysts show a decline in confidence, with Keefe, Bruyette & Woods downgrading the stock from "outperform" to "market perform" and adjusting their price target from $14.50 to $13.50.
• PennyMac reported a quarterly earnings miss, with earnings per share at ($0.04), significantly below the analysts' consensus estimate of $0.35, and announced a quarterly dividend of $0.40 with a yield of 12.9%.

Caxton Associates LLP bought a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 90,881 shares of the real estate investment trust's stock, valued at approximately $1,331,000. Caxton Associates LLP owned about 0.10% of PennyMac Mortgage Investment Trust as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Motiv8 Investments LLC raised its position in shares of PennyMac Mortgage Investment Trust by 13.1% during the first quarter. Motiv8 Investments LLC now owns 11,547 shares of the real estate investment trust's stock worth $169,000 after acquiring an additional 1,333 shares during the last quarter. GAMMA Investing LLC increased its holdings in PennyMac Mortgage Investment Trust by 204.0% in the first quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 1,363 shares during the last quarter. QRG Capital Management Inc. increased its holdings in PennyMac Mortgage Investment Trust by 8.3% in 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 purchasing an additional 1,974 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in PennyMac Mortgage Investment Trust by 196.5% in the first quarter. Russell Investments Group Ltd. now owns 3,262 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 2,162 shares during the last quarter. Finally, Samalin Investment Counsel LLC increased its holdings in PennyMac Mortgage Investment Trust by 22.8% in the first quarter. Samalin Investment Counsel LLC now owns 16,678 shares of the real estate investment trust's stock valued at $244,000 after purchasing an additional 3,097 shares during the last quarter. Institutional investors own 67.38% of the company's stock.

Wall Street Analysts Forecast Growth

PMT has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on PennyMac Mortgage Investment Trust in a report on Monday, August 25th. They issued an "equal weight" rating and a $13.00 price objective for the company. Keefe, Bruyette & Woods downgraded PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $14.50 to $13.50 in a report on Friday, July 25th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $14.00.

PennyMac Mortgage Investment Trust Stock Up 0.4%

NYSE PMT traded up $0.05 during trading hours on Monday, hitting $12.30. 139,536 shares of the company traded hands, compared to its average volume of 803,296. The business's 50-day moving average is $12.36 and its 200-day moving average is $12.91. PennyMac Mortgage Investment Trust has a twelve month low of $11.70 and a twelve month high of $14.93. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 3.00 and a beta of 1.30.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.35 by ($0.39). PennyMac Mortgage Investment Trust had a net margin of 34.65% and a return on equity of 7.68%. The company had revenue of $70.20 million for the quarter, compared to analyst estimates of $95.46 million. Sell-side 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 disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.0%. The ex-dividend date of this dividend was Friday, July 11th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is presently 222.22%.

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.