PennyMac Mortgage Investment Trust $PMT Shares Acquired by Vanguard Group Inc.

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. increased its position in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,623,312 shares of the real estate investment trust's stock after purchasing an additional 30,334 shares during the quarter. Vanguard Group Inc. owned approximately 11.06% of PennyMac Mortgage Investment Trust worth $140,982,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PMT. Northern Trust Corp lifted its holdings in PennyMac Mortgage Investment Trust by 28.6% during the fourth quarter. Northern Trust Corp now owns 1,145,336 shares of the real estate investment trust's stock worth $14,420,000 after buying an additional 254,581 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 9.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 777,712 shares of the real estate investment trust's stock valued at $9,791,000 after purchasing an additional 66,371 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of PennyMac Mortgage Investment Trust by 5.5% during the 4th quarter. First Trust Advisors LP now owns 772,213 shares of the real estate investment trust's stock valued at $9,722,000 after purchasing an additional 40,270 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 549,340 shares of the real estate investment trust's stock valued at $8,048,000 after purchasing an additional 13,441 shares during the last quarter. Finally, TrueMark Investments LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at $3,106,000. Institutional investors own 67.38% of the company's stock.

PennyMac Mortgage Investment Trust Price Performance

NYSE PMT traded up $0.04 during mid-day trading on Tuesday, hitting $12.29. The stock had a trading volume of 551,899 shares, compared to its average volume of 720,551. The firm's 50 day moving average is $12.47 and its 200 day moving average is $13.06. PennyMac Mortgage Investment Trust has a twelve month low of $11.70 and a twelve month high of $14.93. The company has a debt-to-equity ratio of 3.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 3.00 and a beta of 1.22.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $95.46 million. Equities research analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.0%. PennyMac Mortgage Investment Trust's payout ratio is presently 222.22%.

Analysts Set New Price Targets

PMT has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and decreased their price objective for the company 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 issued an "equal weight" rating and a $13.00 target price 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.com, the stock has an average rating of "Hold" and a consensus price target of $14.00.

About PennyMac Mortgage Investment Trust

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.