Caxton Associates LLP Purchases Shares of 90,881 PennyMac Mortgage Investment Trust $PMT

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 acquired a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 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 filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in PennyMac Mortgage Investment Trust by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 9,623,312 shares of the real estate investment trust's stock valued at $140,982,000 after buying an additional 30,334 shares during the last quarter. Deutsche Bank AG increased its stake in PennyMac Mortgage Investment Trust by 44.5% in the 4th quarter. Deutsche Bank AG now owns 77,555 shares of the real estate investment trust's stock valued at $976,000 after buying an additional 23,874 shares during the last quarter. Northern Trust Corp increased its stake in PennyMac Mortgage Investment Trust by 28.6% in the 4th quarter. Northern Trust Corp now owns 1,145,336 shares of the real estate investment trust's stock valued at $14,420,000 after buying an additional 254,581 shares during the last quarter. GAMMA Investing LLC increased its stake in PennyMac Mortgage Investment Trust by 4,354.2% in the 1st quarter. GAMMA Investing LLC now owns 29,754 shares of the real estate investment trust's stock valued at $436,000 after buying an additional 29,086 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in PennyMac Mortgage Investment Trust in the 1st quarter valued at about $1,383,000. Hedge funds and other institutional investors own 67.38% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on PMT. Wells Fargo & Company began coverage on shares of PennyMac Mortgage Investment Trust in a research note on Monday, August 25th. They issued an "equal weight" rating and a $13.00 price objective for the company. Keefe, Bruyette & Woods lowered shares of PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $14.50 to $13.50 in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $14.00.

PennyMac Mortgage Investment Trust Stock Performance

PMT traded down $0.10 on Friday, hitting $12.26. The company's stock had a trading volume of 493,745 shares, compared to its average volume of 608,682. The company's 50 day simple moving average is $12.36 and its 200-day simple moving average is $12.93. The firm has a market cap of $1.07 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 3.02 and a beta of 1.30. PennyMac Mortgage Investment Trust has a 12 month low of $11.70 and a 12 month high of $14.93. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 3.82.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $70.20 million during the quarter, compared to the consensus estimate of $95.46 million. PennyMac Mortgage Investment Trust had a return on equity of 7.68% and a net margin of 34.65%. Analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 EPS 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. Investors of record on Friday, July 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.60 annualized dividend and a yield of 13.0%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is 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.