Northern Trust Corp Has $14.42 Million Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Northern Trust Corp grew its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 28.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,145,336 shares of the real estate investment trust's stock after buying an additional 254,581 shares during the period. Northern Trust Corp owned approximately 1.32% of PennyMac Mortgage Investment Trust worth $14,420,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Nebula Research & Development LLC acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter worth about $196,000. Dark Forest Capital Management LP acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter worth about $696,000. Stifel Financial Corp raised its position in PennyMac Mortgage Investment Trust by 24.4% in the fourth quarter. Stifel Financial Corp now owns 42,659 shares of the real estate investment trust's stock worth $537,000 after purchasing an additional 8,358 shares in the last quarter. First Trust Advisors LP raised its position in PennyMac Mortgage Investment Trust by 5.5% in the fourth quarter. First Trust Advisors LP now owns 772,213 shares of the real estate investment trust's stock worth $9,722,000 after purchasing an additional 40,270 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in PennyMac Mortgage Investment Trust by 17.1% in the fourth quarter. Guggenheim Capital LLC now owns 26,115 shares of the real estate investment trust's stock worth $329,000 after purchasing an additional 3,810 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

PennyMac Mortgage Investment Trust Price Performance

Shares of PennyMac Mortgage Investment Trust stock opened at $13.07 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 9.83 and a beta of 1.32. PennyMac Mortgage Investment Trust has a 1-year low of $11.77 and a 1-year high of $15.22. The firm's 50-day moving average price is $13.45 and its two-hundred day moving average price is $13.37.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.38 by ($0.39). PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. The company had revenue of $44.47 million for the quarter, compared to the consensus estimate of $94.36 million. During the same period last year, the company earned $0.39 earnings per share. On average, equities analysts predict that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 12.24%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is currently 172.04%.

Wall Street Analysts Forecast Growth

PMT has been the subject of several recent research reports. JMP Securities reissued a "market outperform" rating and issued a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Wells Fargo & Company decreased their price objective on shares of PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating on the stock 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. UBS Group decreased their price objective on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $14.50.

Insider Activity

In other PennyMac Mortgage Investment Trust news, Director Catherine A. Lynch acquired 2,878 shares of PennyMac Mortgage Investment Trust stock in a transaction on Thursday, April 24th. The shares were purchased at an average cost of $12.15 per share, with a total value of $34,967.70. Following the completion of the purchase, the director now owns 49,254 shares in the company, valued at $598,436.10. The trade was a 6.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Doug Jones sold 14,530 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total transaction of $210,685.00. Following the completion of the transaction, the director now directly owns 64,082 shares in the company, valued at approximately $929,189. The trade was a 18.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.