Nuveen LLC Invests $3.71 Million in PennyMac Mortgage Investment Trust $PMT

Key Points

• Nuveen LLC invested approximately $3.71 million in PennyMac Mortgage Investment Trust, acquiring 253,449 shares, marking a stake of about 0.29% by the end of the last reporting period.
• PennyMac reported a loss of $0.04 per share for the most recent quarter, significantly missing the consensus estimate of $0.35, while also declaring a quarterly dividend of $0.40 per share, yielding 13.2%.
• Analysts are cautious with PennyMac's stock, with ratings varying from one Buy and several Hold ratings, and a revised target price from $14.50 to $13.50 by Keefe, Bruyette & Woods.

Nuveen LLC bought a new position in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 253,449 shares of the real estate investment trust's stock, valued at approximately $3,713,000. Nuveen LLC owned 0.29% of PennyMac Mortgage Investment Trust as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PMT. GAMMA Investing LLC grew its stake 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 worth $30,000 after acquiring an additional 1,363 shares during the period. PNC Financial Services Group Inc. grew its stake in PennyMac Mortgage Investment Trust by 71.2% in 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 acquiring an additional 4,147 shares during the period. Motiv8 Investments LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 13.1% during the 1st quarter. Motiv8 Investments LLC now owns 11,547 shares of the real estate investment trust's stock valued at $169,000 after buying an additional 1,333 shares during the period. Nebula Research & Development LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at $196,000. Finally, Kestra Private Wealth Services LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at $258,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Stock Up 1.2%

PMT stock 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. PennyMac Mortgage Investment Trust has a 1-year low of $11.70 and a 1-year high of $14.93. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 3.82. The company has a market capitalization of $1.07 billion, a P/E ratio of 17.12, a PEG ratio of 3.01 and a beta of 1.30. The firm has a fifty day moving average price of $12.46 and a 200 day moving average price of $13.02.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last issued 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). The firm had revenue of $70.20 million during the quarter, compared to analyst estimates of $95.46 million. PennyMac Mortgage Investment Trust had a return on equity of 7.68% and a net margin of 34.65%. On average, equities 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 disclosed 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 annualized dividend and a dividend yield of 13.0%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is 222.22%.

Analyst Ratings Changes

PMT has been the subject of several research reports. Keefe, Bruyette & Woods cut shares of PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $14.50 to $13.50 in a research note on Friday, July 25th. 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 objective for the company. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $14.00.

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.