MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 557,389 Shares of PennyMac Mortgage Investment Trust $PMT

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 71.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,335,101 shares of the real estate investment trust's stock after buying an additional 557,389 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.53% of PennyMac Mortgage Investment Trust worth $19,559,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in shares of PennyMac Mortgage Investment Trust by 24.4% during the 4th quarter. Stifel Financial Corp now owns 42,659 shares of the real estate investment trust's stock valued at $537,000 after acquiring an additional 8,358 shares during the last quarter. Northern Trust Corp increased its position in PennyMac Mortgage Investment Trust by 28.6% in the fourth quarter. Northern Trust Corp now owns 1,145,336 shares of the real estate investment trust's stock worth $14,420,000 after purchasing an additional 254,581 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in PennyMac Mortgage Investment Trust by 45.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,928 shares of the real estate investment trust's stock valued at $352,000 after purchasing an additional 8,690 shares in the last quarter. Deutsche Bank AG lifted its position in PennyMac Mortgage Investment Trust by 44.5% during the fourth quarter. Deutsche Bank AG now owns 77,555 shares of the real estate investment trust's stock valued at $976,000 after purchasing an additional 23,874 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in PennyMac Mortgage Investment Trust by 11.7% during the fourth quarter. Lazard Asset Management LLC now owns 61,314 shares of the real estate investment trust's stock valued at $771,000 after purchasing an additional 6,421 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Wall Street Analyst Weigh In

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

PennyMac Mortgage Investment Trust Trading Down 0.4%

NYSE PMT traded down $0.06 during trading on Friday, hitting $12.31. The stock had a trading volume of 233,142 shares, compared to its average volume of 805,477. 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 $12.38 and a 200 day simple moving average of $12.94. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 3.03 and a beta of 1.30. 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 issued 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). 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 analysts' expectations of $95.46 million. Sell-side 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. Stockholders of record on Friday, July 11th were issued a $0.40 dividend. The ex-dividend date 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 is presently 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.