Jump Financial LLC Takes $1.38 Million Position in PennyMac Mortgage Investment Trust $PMT

Key Points

• Jump Financial LLC has invested approximately $1.38 million in PennyMac Mortgage Investment Trust by acquiring 94,400 shares, representing about 0.11% of the company's stock.
• PennyMac Mortgage Investment Trust reported a loss of ($0.04) EPS for the most recent quarter, significantly missing analysts' expectations of $0.35 EPS, with revenues also falling short at $70.20 million.
• The company's recent quarterly dividend of $0.40 per share translates to an annualized yield of 13.2%, despite a high dividend payout ratio of 222.22%.

Jump Financial LLC bought a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 94,400 shares of the real estate investment trust's stock, valued at approximately $1,383,000. Jump Financial LLC owned about 0.11% of PennyMac Mortgage Investment Trust at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its position in PennyMac Mortgage Investment Trust by 0.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,895,196 shares of the real estate investment trust's stock valued at $86,365,000 after purchasing an additional 20,578 shares during the last quarter. Boston Partners purchased a new position in shares of PennyMac Mortgage Investment Trust during the 1st quarter worth approximately $14,807,000. Russell Investments Group Ltd. grew its holdings in shares of PennyMac Mortgage Investment Trust by 196.5% during 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. Public Sector Pension Investment Board grew its holdings in shares of PennyMac Mortgage Investment Trust by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 275,423 shares of the real estate investment trust's stock worth $4,035,000 after acquiring an additional 59,008 shares during the period. Finally, Nuveen LLC purchased a new position in shares of PennyMac Mortgage Investment Trust during the 1st quarter worth approximately $3,713,000. Institutional investors own 67.38% of the company's stock.

Analyst Upgrades and Downgrades

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

PennyMac Mortgage Investment Trust Trading Up 0.7%

NYSE PMT traded up $0.09 during trading on Wednesday, hitting $12.22. The stock had a trading volume of 70,834 shares, compared to its average volume of 809,245. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 3.01 and a beta of 1.30. PennyMac Mortgage Investment Trust has a one year low of $11.70 and a one year high of $14.93. The stock has a 50 day simple moving average of $12.45 and a 200 day simple moving average of $13.01.

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

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 13.1%. The ex-dividend date of this dividend was Friday, July 11th. PennyMac Mortgage Investment Trust's payout ratio is currently 222.22%.

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.