Nuveen LLC Buys Shares of 253,449 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 stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 253,449 shares of the real estate investment trust's stock, valued at approximately $3,713,000. Nuveen LLC owned approximately 0.29% of PennyMac Mortgage Investment Trust at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 204.0% during the 1st quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 1,363 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of PennyMac Mortgage Investment Trust by 71.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,968 shares of the real estate investment trust's stock valued at $146,000 after buying an additional 4,147 shares in the last quarter. Motiv8 Investments LLC lifted its position 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 in the last quarter. Nebula Research & Development LLC purchased a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $196,000. Finally, Kestra Private Wealth Services LLC purchased a new position in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at approximately $258,000. Hedge funds and other institutional investors own 67.38% of the company's stock.

PennyMac Mortgage Investment Trust Trading Down 1.5%

Shares of PMT traded down $0.19 during midday trading on Tuesday, reaching $12.12. The company had a trading volume of 650,699 shares, compared to its average volume of 586,028. PennyMac Mortgage Investment Trust has a 1-year low of $11.70 and a 1-year high of $14.93. The stock has a market cap of $1.05 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. The firm has a 50 day simple moving average of $12.45 and a 200-day simple moving average of $13.01. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 3.82.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.39). The company 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%. Research analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend was Friday, July 11th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is presently 222.22%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PMT shares. Keefe, Bruyette & Woods downgraded PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $14.50 to $13.50 in a research note on Friday, July 25th. Wells Fargo & Company started coverage on PennyMac Mortgage Investment Trust in a research note on Monday, August 25th. They issued 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $14.00.

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.