Tudor Investment Corp ET AL Sells 155,435 Shares of PennyMac Mortgage Investment Trust $PMT

Key Points

• Tudor Investment Corp ET AL cut its stake in PennyMac Mortgage Investment Trust by 93.1%, selling 155,435 shares in Q3 and leaving 11,549 shares worth $142,000.
• PennyMac announced a quarterly dividend of $0.40 (annualized $1.60), implying a 13.3% yield with a payout ratio of 163.27%; record date Apr 9 and payable Apr 24.
• The REIT reported quarterly EPS of $0.48 vs. $0.41 expected, and analysts hold a consensus "Hold" rating with a $13.60 target while the stock trades near $12.08 (12‑month range $11.15–$13.81).

Tudor Investment Corp ET AL reduced its position in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 93.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,549 shares of the real estate investment trust's stock after selling 155,435 shares during the quarter. Tudor Investment Corp ET AL's holdings in PennyMac Mortgage Investment Trust were worth $142,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Spinnaker Investment Group LLC acquired a new position in PennyMac Mortgage Investment Trust during the third quarter worth $506,000. Public Sector Pension Investment Board raised its stake in PennyMac Mortgage Investment Trust by 14.4% during the third quarter. Public Sector Pension Investment Board now owns 339,375 shares of the real estate investment trust's stock worth $4,161,000 after acquiring an additional 42,720 shares in the last quarter. Dana Investment Advisors Inc. raised its stake in PennyMac Mortgage Investment Trust by 10.2% during the third quarter. Dana Investment Advisors Inc. now owns 525,337 shares of the real estate investment trust's stock worth $6,441,000 after acquiring an additional 48,618 shares in the last quarter. New York State Common Retirement Fund raised its stake in PennyMac Mortgage Investment Trust by 37.7% during the third quarter. New York State Common Retirement Fund now owns 29,233 shares of the real estate investment trust's stock worth $358,000 after acquiring an additional 8,000 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in PennyMac Mortgage Investment Trust during the third quarter worth $380,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PMT has been the subject of several recent analyst reports. Citigroup reiterated an "outperform" rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 22nd. Piper Sandler dropped their price objective on PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, April 2nd. Weiss Ratings reiterated a "hold (c-)" rating on shares of PennyMac Mortgage Investment Trust in a research note on Friday, March 27th. Finally, Citizens Jmp dropped their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a "market outperform" rating for the company in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and six have issued 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 $13.60.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE:PMT opened at $12.08 on Friday. PennyMac Mortgage Investment Trust has a twelve month low of $11.15 and a twelve month high of $13.81. The firm has a market cap of $1.05 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.57 and a beta of 1.24. The company has a debt-to-equity ratio of 6.55, a quick ratio of 1.12 and a current ratio of 1.12. The business has a fifty day moving average of $11.94 and a 200-day moving average of $12.38.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its earnings results on Thursday, January 29th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.07. PennyMac Mortgage Investment Trust had a return on equity of 9.53% and a net margin of 41.59%.The company had revenue of $0.15 million during the quarter, compared to analyst estimates of $96.96 million. On average, equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Thursday, April 9th will be paid a $0.40 dividend. The ex-dividend date is Thursday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.3%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is 163.27%.

PennyMac Mortgage Investment Trust Profile

PennyMac Mortgage Investment Trust NYSE: PMT is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor's mortgage servicing, underwriting and capital markets expertise.

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