Advisors Preferred LLC bought a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 140,333 shares of the real estate investment trust's stock, valued at approximately $2,105,000. Advisors Preferred LLC owned approximately 0.16% of PennyMac Mortgage Investment Trust as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of PMT. Norges Bank bought a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $10,708,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of PennyMac Mortgage Investment Trust by 11.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,609,260 shares of the real estate investment trust's stock valued at $63,746,000 after purchasing an additional 460,177 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in PennyMac Mortgage Investment Trust by 55.9% during the first quarter. JPMorgan Chase & Co. now owns 1,103,922 shares of the real estate investment trust's stock worth $13,611,000 after acquiring an additional 395,970 shares during the period. International Assets Investment Management LLC lifted its holdings in PennyMac Mortgage Investment Trust by 1,307.8% during the fourth quarter. International Assets Investment Management LLC now owns 325,910 shares of the real estate investment trust's stock worth $4,872,000 after acquiring an additional 302,760 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in PennyMac Mortgage Investment Trust by 23.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,507,911 shares of the real estate investment trust's stock worth $18,698,000 after acquiring an additional 284,200 shares during the period. Institutional investors own 67.38% of the company's stock.
PennyMac Mortgage Investment Trust Stock Performance
Shares of NYSE PMT traded up $0.13 during mid-day trading on Friday, hitting $14.40. The company had a trading volume of 594,388 shares, compared to its average volume of 602,507. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The stock's 50-day moving average price is $14.15 and its 200-day moving average price is $13.80. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 8.94 and a beta of 1.48.
PennyMac Mortgage Investment Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.11%. The ex-dividend date is Thursday, April 11th. PennyMac Mortgage Investment Trust's payout ratio is 99.38%.
Insider Buying and Selling
In related news, Director Doug Jones sold 7,810 shares of the business's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the completion of the transaction, the director now directly owns 53,311 shares in the company, valued at $764,479.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.90% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. B. Riley boosted their target price on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on PennyMac Mortgage Investment Trust in a research note on Wednesday, January 10th. They issued a "hold" rating and a $15.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $14.58.
Check Out Our Latest Stock Analysis on PMT
PennyMac Mortgage Investment Trust Profile
(
Free Report)
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.
Further Reading
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