Goldman Sachs Group Inc. Has $4.59 Million Stake in PennyMac Mortgage Investment Trust $PMT

Key Points

• Goldman Sachs Group Inc. has reduced its stake in PennyMac Mortgage Investment Trust by 63.3%, now holding approximately 313,265 shares worth $4,589,000 after selling 539,795 shares in the first quarter.
• PennyMac reported a quarterly loss with an EPS of ($0.04), missing analysts' consensus estimates of $0.35, and revenue of $70.2 million fell short of expectations.
• The company announced a quarterly dividend of $0.40 per share, resulting in a dividend yield of 13.2%, despite having a dividend payout ratio of 222.22%.

Goldman Sachs Group Inc. reduced its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 63.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 313,265 shares of the real estate investment trust's stock after selling 539,795 shares during the quarter. Goldman Sachs Group Inc. owned 0.36% of PennyMac Mortgage Investment Trust worth $4,589,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in PennyMac Mortgage Investment Trust by 204.0% during the first quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 1,363 shares in the last quarter. Russell Investments Group Ltd. raised its position in PennyMac Mortgage Investment Trust by 196.5% during the first quarter. Russell Investments Group Ltd. now owns 3,262 shares of the real estate investment trust's stock worth $48,000 after acquiring an additional 2,162 shares in the last quarter. PNC Financial Services Group Inc. raised its position in PennyMac Mortgage Investment Trust by 71.2% during the first quarter. PNC Financial Services Group Inc. now owns 9,968 shares of the real estate investment trust's stock worth $146,000 after acquiring an additional 4,147 shares in the last quarter. Motiv8 Investments LLC raised its position in PennyMac Mortgage Investment Trust by 13.1% during the first quarter. Motiv8 Investments LLC now owns 11,547 shares of the real estate investment trust's stock worth $169,000 after acquiring an additional 1,333 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in PennyMac Mortgage Investment Trust by 36.7% during the first quarter. AQR Capital Management LLC now owns 16,155 shares of the real estate investment trust's stock worth $237,000 after acquiring an additional 4,335 shares in the last quarter. 67.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

PennyMac Mortgage Investment Trust Stock Performance

NYSE:PMT traded down $0.12 during mid-day trading on Friday, reaching $12.08. 2,080,897 shares of the company's stock were exchanged, compared to its average volume of 613,858. PennyMac Mortgage Investment Trust has a one year low of $11.70 and a one year high of $14.93. The firm has a market capitalization of $1.05 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 2.98 and a beta of 1.30. The business's fifty day simple moving average is $12.27 and its two-hundred day simple moving average is $12.85. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.80 and a current ratio of 0.80.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.39). PennyMac Mortgage Investment Trust had a return on equity of 7.68% and a net margin of 34.65%.The business had revenue of $70.20 million for the quarter, compared to the consensus estimate of $95.46 million. Analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 13.3%. The ex-dividend date of this dividend is Friday, October 10th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is currently 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.