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

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth $25,000. Principal Securities Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 2,042.9% during the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 2,288 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth $36,000. Allworth Financial LP bought a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth $39,000. Finally, Sandy Spring Bank bought a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth $49,000. 67.38% of the stock is owned by institutional investors.

PennyMac Mortgage Investment Trust Stock Up 0.6%

Shares of PMT traded up $0.08 during mid-day trading on Friday, reaching $12.44. The company's stock had a trading volume of 507,599 shares, compared to its average volume of 795,362. The business has a fifty day moving average of $12.81 and a 200 day moving average of $13.28. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 9.35 and a beta of 1.32. PennyMac Mortgage Investment Trust has a 1 year low of $11.77 and a 1 year high of $14.98. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released 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 business had revenue of $44.47 million during the quarter, compared to analysts' expectations 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 previous year, the company earned $0.39 EPS. As a group, analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Catherine A. Lynch acquired 2,878 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average cost of $12.15 per share, for a total transaction of $34,967.70. Following the completion of the acquisition, the director now owns 49,254 shares in the company, valued at approximately $598,436.10. The trade was a 6.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.92% of the company's stock.

Wall Street Analyst Weigh In

PMT has been the subject of several research reports. Jones Trading reissued a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price objective on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company reduced their price objective on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Finally, UBS Group reduced their price objective on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of "Hold" and a consensus price target of $14.50.

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.