Prevail Innovative Wealth Advisors LLC Invests $925,000 in PennyMac Mortgage Investment Trust (NYSE:PMT)

Prevail Innovative Wealth Advisors LLC purchased a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 63,120 shares of the real estate investment trust's stock, valued at approximately $925,000. Prevail Innovative Wealth Advisors LLC owned 0.07% of PennyMac Mortgage Investment Trust at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised 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 valued at $30,000 after acquiring an additional 1,363 shares during the period. New Age Alpha Advisors LLC bought a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at $36,000. Sandy Spring Bank bought a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at $49,000. Murphy & Mullick Capital Management Corp bought a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at $118,000. Finally, Proficio Capital Partners LLC bought a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at $139,000. Institutional investors own 67.38% of the company's stock.

Insider Activity at PennyMac Mortgage Investment Trust

In other news, Director Catherine A. Lynch purchased 2,878 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was bought at an average price of $12.15 per share, with a total value of $34,967.70. Following the acquisition, the director owned 49,254 shares in the company, valued at approximately $598,436.10. The trade was a 6.21% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.92% of the company's stock.

PennyMac Mortgage Investment Trust Stock Performance

PMT stock traded down $0.15 during trading hours on Friday, hitting $12.49. 643,606 shares of the stock were exchanged, compared to its average volume of 788,752. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.75. The firm has a market capitalization of $1.09 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.46 and a beta of 1.24. The company has a 50-day simple moving average of $12.67 and a two-hundred day simple moving average of $13.16. PennyMac Mortgage Investment Trust has a 12 month low of $11.77 and a 12 month high of $14.97.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.39). PennyMac Mortgage Investment Trust had a return on equity of 8.87% and a net margin of 40.42%. The firm had revenue of $44.47 million for the quarter, compared to the consensus estimate of $94.36 million. During the same quarter in the previous year, the business earned $0.39 EPS. On average, analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.82%. The ex-dividend date of this dividend is Friday, July 11th. PennyMac Mortgage Investment Trust's payout ratio is currently 172.04%.

Wall Street Analyst Weigh In

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

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.