Vanguard Group Inc. Raises Stock Holdings in PennyMac Mortgage Investment Trust $PMT

Key Points

• Vanguard Group Inc. increased its holdings in PennyMac Mortgage Investment Trust by 0.3% during Q1, owning a total of 9,623,312 shares valued at approximately $141 million.
• PennyMac reported a loss of $0.04 per share for the last quarter, significantly missing analysts' estimates, with revenues also falling short of expectations.
• Despite the downturn in earnings, the company maintained a quarterly dividend of $0.40 per share, equating to an annual yield of 13.1%.

Vanguard Group Inc. raised its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,623,312 shares of the real estate investment trust's stock after acquiring an additional 30,334 shares during the period. Vanguard Group Inc. owned about 11.06% of PennyMac Mortgage Investment Trust worth $140,982,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of 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 worth $30,000 after purchasing an additional 1,363 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in 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 buying an additional 4,147 shares during the period. Motiv8 Investments LLC lifted its position in PennyMac Mortgage Investment Trust by 13.1% during the first quarter. Motiv8 Investments LLC now owns 11,547 shares of the real estate investment trust's stock valued at $169,000 after buying an additional 1,333 shares during the period. Nebula Research & Development LLC purchased a new position in PennyMac Mortgage Investment Trust during the fourth quarter valued at $196,000. Finally, Kestra Private Wealth Services LLC purchased a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter worth about $258,000. 67.38% of the stock is currently owned by institutional investors.

PennyMac Mortgage Investment Trust Stock Down 0.8%

Shares of PMT traded down $0.0950 during midday trading on Monday, reaching $12.2650. 301,666 shares of the stock were exchanged, compared to its average volume of 818,204. PennyMac Mortgage Investment Trust has a 52 week low of $11.70 and a 52 week 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 company's 50 day moving average is $12.47 and its two-hundred day moving average is $13.07. The company has a market capitalization of $1.07 billion, a P/E ratio of 17.02, a PEG ratio of 3.02 and a beta of 1.22.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.39). The firm had revenue of $70.20 million for the quarter, compared to the consensus estimate of $95.46 million. PennyMac Mortgage Investment Trust had a return on equity of 7.68% and a net margin of 34.65%. On average, sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.0%. The ex-dividend date was Friday, July 11th. PennyMac Mortgage Investment Trust's dividend payout ratio is 222.22%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods downgraded PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $14.50 to $13.50 in a report on Friday, July 25th. Wells Fargo & Company started coverage on PennyMac Mortgage Investment Trust in a research note on Monday. They set an "equal weight" rating and a $13.00 price objective for the company. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $14.00.

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.