D. E. Shaw & Co. Inc. Lowers Stock Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

D. E. Shaw & Co. Inc. reduced its stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 64.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,686 shares of the real estate investment trust's stock after selling 39,848 shares during the period. D. E. Shaw & Co. Inc.'s holdings in PennyMac Mortgage Investment Trust were worth $273,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PMT. Invesco Ltd. grew its stake in shares of PennyMac Mortgage Investment Trust by 167.5% in the 4th quarter. Invesco Ltd. now owns 2,173,869 shares of the real estate investment trust's stock valued at $27,369,000 after buying an additional 1,361,282 shares during the period. Charles Schwab Investment Management Inc. grew its stake in PennyMac Mortgage Investment Trust by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,520,394 shares of the real estate investment trust's stock valued at $19,142,000 after acquiring an additional 63,781 shares during the period. Northern Trust Corp increased its holdings in shares of PennyMac Mortgage Investment Trust by 28.6% during the fourth quarter. Northern Trust Corp now owns 1,145,336 shares of the real estate investment trust's stock valued at $14,420,000 after acquiring an additional 254,581 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of PennyMac Mortgage Investment Trust by 5.5% during the fourth quarter. First Trust Advisors LP now owns 772,213 shares of the real estate investment trust's stock valued at $9,722,000 after acquiring an additional 40,270 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of PennyMac Mortgage Investment Trust by 9.8% during the fourth quarter. Van ECK Associates Corp now owns 643,570 shares of the real estate investment trust's stock worth $8,103,000 after purchasing an additional 57,281 shares during the period. Institutional investors and hedge funds own 67.38% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PMT. UBS Group reduced their price target on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Jones Trading restated a "hold" rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. Finally, Wells Fargo & Company cut their price target on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.50.

PennyMac Mortgage Investment Trust Stock Down 0.3%

PennyMac Mortgage Investment Trust stock traded down $0.04 during midday trading on Friday, hitting $12.30. 621,072 shares of the stock were exchanged, compared to its average volume of 794,785. PennyMac Mortgage Investment Trust has a 52-week low of $11.77 and a 52-week high of $14.98. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43. The business's 50-day moving average price is $13.05 and its 200-day moving average price is $13.31. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 9.25 and a beta of 1.32.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.39). The business had revenue of $44.47 million during the quarter, compared to analysts' expectations 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 previous year, the firm earned $0.39 EPS. On average, research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were given a $0.40 dividend. The ex-dividend date was Friday, April 11th. This represents a $1.60 annualized dividend and a yield of 13.01%. PennyMac Mortgage Investment Trust's dividend payout ratio is currently 172.04%.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In related news, Director Catherine A. Lynch bought 2,878 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Thursday, April 24th. The stock was purchased at an average cost of $12.15 per share, with a total value of $34,967.70. Following the transaction, the director now directly owns 49,254 shares of the company's stock, valued at approximately $598,436.10. The trade was a 6.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Doug Jones sold 14,530 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the transaction, the director now owns 64,082 shares in the company, valued at approximately $929,189. The trade was a 18.48% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

PennyMac Mortgage Investment Trust Profile

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.