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

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

A number of other hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of PennyMac Mortgage Investment Trust by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,520,394 shares of the real estate investment trust's stock valued at $19,142,000 after purchasing an additional 63,781 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at $139,000. Raymond James Financial Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at $1,300,000. Amundi raised its holdings in shares of PennyMac Mortgage Investment Trust by 169.7% in the 4th quarter. Amundi now owns 41,977 shares of the real estate investment trust's stock valued at $521,000 after purchasing an additional 26,411 shares in the last quarter. Finally, Sandy Spring Bank acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at $49,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Catherine A. Lynch acquired 2,878 shares of the stock in a transaction on Thursday, April 24th. The shares were bought at an average cost of $12.15 per share, with a total value of $34,967.70. Following the transaction, the director owned 49,254 shares of the company's stock, valued at approximately $598,436.10. This trade represents a 6.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.92% of the company's stock.

PennyMac Mortgage Investment Trust Stock Up 1.7%

Shares of NYSE PMT traded up $0.22 during mid-day trading on Wednesday, reaching $12.75. The company had a trading volume of 797,480 shares, compared to its average volume of 789,752. 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 50 day simple moving average of $12.67 and a two-hundred day simple moving average of $13.16. The stock has a market cap of $1.11 billion, a P/E ratio of 13.70, a PEG ratio of 1.43 and a beta of 1.24. PennyMac Mortgage Investment Trust has a 52-week low of $11.77 and a 52-week high of $14.98.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.39). The company 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 40.42% and a return on equity of 8.87%. During the same period last year, the business earned $0.39 earnings per share. 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 announced 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 12.55%. The ex-dividend date is Friday, July 11th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is 172.04%.

Analyst Upgrades and Downgrades

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