Corient Private Wealth LP acquired a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 146,387 shares of the real estate investment trust's stock, valued at approximately $1,651,000. Corient Private Wealth LP owned 0.17% of PennyMac Mortgage Investment Trust at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PMT. Bessemer Group Inc. raised its stake in PennyMac Mortgage Investment Trust by 142.1% during the first quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 1,285 shares during the period. Allworth Financial LP purchased a new stake in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $33,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at approximately $33,000. Clearstead Advisors LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 184.3% during the 4th quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust's stock worth $35,000 after buying an additional 1,815 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth approximately $50,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.
PennyMac Mortgage Investment Trust Price Performance
PennyMac Mortgage Investment Trust stock opened at $9.63 on Friday. The company's 50 day simple moving average is $9.83 and its 200-day simple moving average is $10.78. The company has a market capitalization of $839.74 million, a price-to-earnings ratio of 6.78, a price-to-earnings-growth ratio of 0.71 and a beta of 1.14. 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 quick ratio of 1.46 and a current ratio of 1.46.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.07). PennyMac Mortgage Investment Trust had a return on equity of 12.50% and a net margin of 47.79%.The company had revenue of ($46.00) million for the quarter, compared to analysts' expectations of $93.93 million. As a group, equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.03 earnings per share for the current year.
PennyMac Mortgage Investment Trust Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Thursday, October 8th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 16.6%. The ex-dividend date is Thursday, October 8th. PennyMac Mortgage Investment Trust's dividend payout ratio is 112.68%.
Analysts Set New Price Targets
Several analysts have recently commented on PMT shares. Keefe, Bruyette & Woods reaffirmed 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 report on Friday, May 8th. Piper Sandler cut their target price on PennyMac Mortgage Investment Trust from $11.50 to $10.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Wells Fargo & Company cut their target price on PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft upgraded PennyMac Mortgage Investment Trust from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a research report on Saturday, August 15th. Finally, Wall Street Zen lowered PennyMac Mortgage Investment Trust from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $11.50.
View Our Latest Report on PMT
PennyMac Mortgage Investment Trust Profile
(
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.
See Also
Want to see what other hedge funds are holding PMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report).
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