TrueMark Investments LLC Buys Shares of 212,023 PennyMac Mortgage Investment Trust (NYSE:PMT)

TrueMark Investments LLC acquired a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 212,023 shares of the real estate investment trust's stock, valued at approximately $3,106,000. TrueMark Investments LLC owned 0.24% of PennyMac Mortgage Investment Trust as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers boosted its position in PennyMac Mortgage Investment Trust by 0.4% in the fourth quarter. Rhumbline Advisers now owns 264,702 shares of the real estate investment trust's stock valued at $3,333,000 after buying an additional 1,001 shares in the last quarter. GAMMA Investing LLC boosted its position in PennyMac Mortgage Investment Trust by 204.0% in the first 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. QRG Capital Management Inc. boosted its position in PennyMac Mortgage Investment Trust by 8.3% in the first quarter. QRG Capital Management Inc. now owns 25,673 shares of the real estate investment trust's stock valued at $376,000 after buying an additional 1,974 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at about $25,000. Finally, Principal Securities Inc. boosted its position in PennyMac Mortgage Investment Trust by 2,042.9% in the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 2,288 shares in the last quarter. 67.38% of the stock is owned by institutional investors.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Catherine A. Lynch acquired 2,878 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average cost of $12.15 per share, for a total transaction of $34,967.70. Following the completion of the acquisition, the director now directly owns 49,254 shares of the company's stock, valued at approximately $598,436.10. This represents a 6.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is currently owned by company insiders.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE PMT traded up $0.22 during trading on Thursday, reaching $12.88. The company had a trading volume of 623,906 shares, compared to its average volume of 795,842. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market cap of $1.12 billion, a PE ratio of 13.84, a PEG ratio of 1.25 and a beta of 1.27. The business's 50 day moving average price is $12.60 and its 200-day moving average price is $13.18. 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 announced 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 net margin of 40.42% and a return on equity of 8.87%. The business had revenue of $44.47 million during the quarter, compared to analyst estimates of $94.36 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. Analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be issued a $0.40 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.60 annualized dividend and a yield of 12.43%. PennyMac Mortgage Investment Trust's dividend payout ratio is currently 172.04%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company dropped 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. Jones Trading reaffirmed a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. Finally, UBS Group dropped their target price on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $14.50.

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.