Public Sector Pension Investment Board Buys 59,008 Shares of PennyMac Mortgage Investment Trust $PMT

Public Sector Pension Investment Board increased its stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 27.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,423 shares of the real estate investment trust's stock after buying an additional 59,008 shares during the period. Public Sector Pension Investment Board owned 0.32% of PennyMac Mortgage Investment Trust worth $4,035,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Nuveen LLC bought a new position in PennyMac Mortgage Investment Trust in the first quarter worth about $3,713,000. Entropy Technologies LP bought a new position in shares of PennyMac Mortgage Investment Trust during the first quarter valued at approximately $259,000. Charles Schwab Investment Management Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,525,689 shares of the real estate investment trust's stock valued at $22,351,000 after purchasing an additional 5,295 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 0.3% during the first quarter. Vanguard Group Inc. now owns 9,623,312 shares of the real estate investment trust's stock valued at $140,982,000 after purchasing an additional 30,334 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 71.2% during the first quarter. PNC Financial Services Group Inc. now owns 9,968 shares of the real estate investment trust's stock valued at $146,000 after purchasing an additional 4,147 shares in the last quarter. 67.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on PMT. Jones Trading reaffirmed a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. Keefe, Bruyette & Woods downgraded 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 note on Friday, July 25th. Finally, Wells Fargo & Company decreased their target price on shares of PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $14.00.

PennyMac Mortgage Investment Trust Trading Down 0.2%

Shares of PMT stock opened at $12.16 on Monday. PennyMac Mortgage Investment Trust has a 12-month low of $11.70 and a 12-month 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 firm's 50 day moving average is $12.53 and its 200 day moving average is $13.12. The stock has a market capitalization of $1.06 billion, a P/E ratio of 16.89, a P/E/G ratio of 1.82 and a beta of 1.22.

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 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 company had revenue of $70.20 million during the quarter, compared to analysts' expectations of $95.46 million. Research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

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

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.

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