Voya Investment Management LLC Acquires 64,912 Shares of PennyMac Mortgage Investment Trust $PMT

Key Points

• Voya Investment Management LLC significantly increased its stake in PennyMac Mortgage Investment Trust by 71.7% during the first quarter, acquiring an additional 64,912 shares.
• PennyMac Mortgage Investment Trust's recent quarterly earnings report revealed an EPS of ($0.04), which fell short of the expected $0.35, leading to a revenue of $70.20 million.
• The company announced a quarterly dividend of $0.40, equating to an annualized dividend yield of 13.3%, with an ex-dividend date of October 10th.

Voya Investment Management LLC lifted its stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 71.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 155,481 shares of the real estate investment trust's stock after buying an additional 64,912 shares during the period. Voya Investment Management LLC owned about 0.18% of PennyMac Mortgage Investment Trust worth $2,278,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PMT. GAMMA Investing LLC lifted its stake 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 valued at $30,000 after buying an additional 1,363 shares during the period. Russell Investments Group Ltd. lifted its stake in PennyMac Mortgage Investment Trust by 196.5% during the first quarter. Russell Investments Group Ltd. now owns 3,262 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 2,162 shares during the period. PNC Financial Services Group Inc. lifted its stake 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 worth $146,000 after purchasing an additional 4,147 shares during the period. Motiv8 Investments LLC lifted its stake 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 worth $169,000 after purchasing an additional 1,333 shares during the period. Finally, AQR Capital Management LLC lifted its stake in PennyMac Mortgage Investment Trust by 36.7% during the first quarter. AQR Capital Management LLC now owns 16,155 shares of the real estate investment trust's stock worth $237,000 after purchasing an additional 4,335 shares during the period. Institutional investors own 67.38% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on PMT shares. Keefe, Bruyette & Woods cut shares of PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $14.50 to $13.50 in a research note on Friday, July 25th. Wells Fargo & Company assumed coverage on shares of PennyMac Mortgage Investment Trust in a report on Monday, August 25th. They set an "equal weight" rating and a $13.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $14.00.

PennyMac Mortgage Investment Trust Trading Down 1.1%

PMT traded down $0.13 during trading on Monday, reaching $11.97. 902,618 shares of the company's stock were exchanged, compared to its average volume of 675,465. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.70 and a fifty-two week high of $14.93. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $1.04 billion, a PE ratio of 16.63, a P/E/G ratio of 2.96 and a beta of 1.30. The company's fifty day moving average price is $12.26 and its 200-day moving average price is $12.81.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released 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 net margin of 34.65% and a return on equity of 7.68%. The firm had revenue of $70.20 million during the quarter, compared to the consensus estimate of $95.46 million. As a group, equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 13.4%. The ex-dividend date of this dividend is Friday, October 10th. PennyMac Mortgage Investment Trust's payout ratio 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.