Ieq Capital LLC Purchases New Stake in PennyMac Mortgage Investment Trust $PMT

Key Points

• Ieq Capital LLC has made a new investment of approximately $7.64 million in PennyMac Mortgage Investment Trust, acquiring 521,749 shares during the first quarter.
• PennyMac reported a loss of $0.04 per share for the last quarter, significantly missing analysts' expectations, with revenues of $70.20 million compared to estimates of $95.46 million.
• The firm announced a quarterly dividend of $0.40 per share, representing an annualized yield of 13.2%, and has a current dividend payout ratio of 222.22%.

Ieq Capital LLC bought a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 521,749 shares of the real estate investment trust's stock, valued at approximately $7,644,000. Ieq Capital LLC owned 0.60% of PennyMac Mortgage Investment Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in PennyMac Mortgage Investment Trust by 204.0% in the 1st quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 1,363 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of PennyMac Mortgage Investment Trust by 196.5% in the 1st 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 during the period. PNC Financial Services Group Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 71.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,968 shares of the real estate investment trust's stock worth $146,000 after purchasing an additional 4,147 shares in the last quarter. Motiv8 Investments LLC increased its position in shares of 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 valued at $169,000 after purchasing an additional 1,333 shares during the period. Finally, Nebula Research & Development LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $196,000. 67.38% of the stock is owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE:PMT traded up $0.15 during trading on Monday, reaching $12.33. The stock had a trading volume of 534,207 shares, compared to its average volume of 636,790. The stock has a market capitalization of $1.07 billion, a PE ratio of 17.12, a P/E/G ratio of 3.01 and a beta of 1.30. PennyMac Mortgage Investment Trust has a 52 week low of $11.70 and a 52 week high of $14.93. The business's 50-day moving average price is $12.46 and its 200 day moving average price is $13.02. The company has a debt-to-equity ratio of 3.82, a current ratio of 0.80 and a quick ratio of 0.80.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $95.46 million. As a group, equities analysts predict that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.0%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is currently 222.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PMT shares. Wells Fargo & Company began coverage on shares of PennyMac Mortgage Investment Trust in a research note on Monday, August 25th. They set an "equal weight" rating and a $13.00 price target on the stock. Keefe, Bruyette & Woods downgraded PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $14.50 to $13.50 in a research report on Friday, July 25th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $14.00.

PennyMac Mortgage Investment Trust Company 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.