PennyMac Mortgage Investment Trust (NYSE:PMT) Position Boosted by Millennium Management LLC

Millennium Management LLC grew its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 99.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 153,974 shares of the real estate investment trust's stock after purchasing an additional 76,751 shares during the period. Millennium Management LLC owned 0.18% of PennyMac Mortgage Investment Trust worth $1,939,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PMT. Invesco Ltd. raised its holdings in shares of PennyMac Mortgage Investment Trust by 167.5% during the fourth 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 period. Norges Bank acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth about $5,212,000. Northern Trust Corp increased its holdings in shares of PennyMac Mortgage Investment Trust by 28.6% in the 4th 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 period. GraniteShares Advisors LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth about $2,461,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth about $2,139,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Catherine A. Lynch acquired 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, for a total transaction of $34,967.70. Following the transaction, the director now owns 49,254 shares in the company, valued at approximately $598,436.10. This trade represents a 6.21% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.92% of the stock is currently owned by insiders.

PennyMac Mortgage Investment Trust Price Performance

PMT traded up $0.07 on Wednesday, reaching $12.31. The company had a trading volume of 701,781 shares, compared to its average volume of 794,117. The company has a fifty day moving average of $12.90 and a 200-day moving average of $13.29. The company has a market capitalization of $1.07 billion, a P/E ratio of 9.26 and a beta of 1.32. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. 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 announced its 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). The company had revenue of $44.47 million during the quarter, compared to the consensus estimate of $94.36 million. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. During the same quarter in the prior year, the company earned $0.39 EPS. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, April 25th. Investors 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 dividend on an annualized basis and a yield of 13.00%. PennyMac Mortgage Investment Trust's dividend payout ratio is presently 172.04%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company dropped their price objective 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. Jones Trading reaffirmed a "hold" rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. UBS Group dropped their price objective on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods dropped their price objective 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of "Hold" and an average target price of $14.50.

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.