PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lessened its stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 64.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,686 shares of the real estate investment trust's stock after selling 39,848 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in PennyMac Mortgage Investment Trust were worth $273,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PMT. Invesco Ltd. boosted its stake in shares of PennyMac Mortgage Investment Trust by 167.5% during the 4th quarter. Invesco Ltd. now owns 2,173,869 shares of the real estate investment trust's stock worth $27,369,000 after purchasing an additional 1,361,282 shares during the last quarter. Norges Bank acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth about $5,212,000. Northern Trust Corp boosted its position in shares of PennyMac Mortgage Investment Trust by 28.6% in the fourth quarter. Northern Trust Corp now owns 1,145,336 shares of the real estate investment trust's stock worth $14,420,000 after acquiring an additional 254,581 shares during the last quarter. GraniteShares Advisors LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $2,461,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $2,139,000. Hedge funds and other institutional investors own 67.38% of the company's stock.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other news, Director Catherine A. Lynch purchased 2,878 shares of PennyMac Mortgage Investment Trust 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 completion of the acquisition, the director now owns 49,254 shares in the company, valued at $598,436.10. The trade was a 6.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Doug Jones sold 14,530 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total transaction of $210,685.00. Following the transaction, the director now directly owns 64,082 shares of the company's stock, valued at approximately $929,189. This trade represents a 18.48% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.

Analysts Set New Price Targets

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

PennyMac Mortgage Investment Trust Stock Down 0.3%

Shares of NYSE:PMT traded down $0.04 during midday trading on Friday, reaching $12.30. The company had a trading volume of 621,072 shares, compared to its average volume of 794,618. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41. The stock's fifty day moving average price is $13.00 and its 200-day moving average price is $13.30. The stock has a market capitalization of $1.07 billion, a P/E ratio of 9.25 and a beta of 1.32. PennyMac Mortgage Investment Trust has a one year low of $11.77 and a one year high of $14.98.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.39). PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. The company had revenue of $44.47 million during the quarter, compared to the consensus estimate of $94.36 million. During the same quarter last year, the firm posted $0.39 EPS. Equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced 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 of this dividend was Friday, April 11th. This represents a $1.60 annualized dividend and a yield of 13.01%. PennyMac Mortgage Investment Trust's payout ratio is 172.04%.

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.