Centaurus Financial Inc. reduced its stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 21.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,538 shares of the real estate investment trust's stock after selling 24,036 shares during the quarter. Centaurus Financial Inc. owned about 0.10% of PennyMac Mortgage Investment Trust worth $1,115,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Rhumbline Advisers lifted its position in shares of PennyMac Mortgage Investment Trust by 0.4% in the fourth quarter. Rhumbline Advisers now owns 264,702 shares of the real estate investment trust's stock valued at $3,333,000 after acquiring an additional 1,001 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at $25,000. Principal Securities Inc. lifted its position in shares of PennyMac Mortgage Investment Trust by 2,042.9% in the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 2,288 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 8.6% in the fourth quarter. Sterling Capital Management LLC now owns 31,534 shares of the real estate investment trust's stock valued at $397,000 after acquiring an additional 2,484 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at $36,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, Director Doug Jones sold 14,530 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the sale, the director now owns 64,082 shares in the company, valued at approximately $929,189. This trade represents a 18.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Catherine A. Lynch bought 2,878 shares of the stock in a transaction dated Thursday, April 24th. The stock was bought at an average price of $12.15 per share, with a total value of $34,967.70. Following the purchase, the director now owns 49,254 shares of the company's stock, valued at approximately $598,436.10. This represents a 6.21% increase in their position. The disclosure for this purchase can be found here. 0.92% of the stock is currently owned by insiders.
PennyMac Mortgage Investment Trust Trading Up 0.7%
NYSE PMT traded up $0.09 during trading hours on Tuesday, hitting $12.21. 717,407 shares of the company's stock were exchanged, compared to its average volume of 794,486. The business's 50 day moving average is $12.90 and its 200-day moving average is $13.29. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $14.98. The firm has a market capitalization of $1.06 billion, a P/E ratio of 9.18 and a beta of 1.32. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.38 by ($0.39). The firm had revenue of $44.47 million for the quarter, compared to analyst estimates of $94.36 million. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. During the same quarter in the prior year, the company earned $0.39 earnings per share. As a group, analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.
PennyMac Mortgage Investment Trust Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, April 11th. This represents a $1.60 annualized dividend and a yield of 13.10%. PennyMac Mortgage Investment Trust's dividend payout ratio is presently 172.04%.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company reduced their price objective on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. UBS Group reduced their target price on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Finally, Jones Trading reiterated a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $14.50.
Check Out Our Latest Analysis on PennyMac Mortgage Investment Trust
About PennyMac Mortgage Investment Trust
(
Free Report)
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.
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