Price T Rowe Associates Inc. MD Trims Stake in PennyMac Mortgage Investment Trust (NYSE:PMT)

Price T Rowe Associates Inc. MD trimmed its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 38.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,410 shares of the real estate investment trust's stock after selling 47,229 shares during the period. Price T Rowe Associates Inc. MD owned about 0.09% of PennyMac Mortgage Investment Trust worth $963,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in PennyMac Mortgage Investment Trust in the fourth quarter worth $5,212,000. Raymond James Financial Inc. bought a new position in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth about $1,300,000. Principal Financial Group Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 5.8% in the 4th quarter. Principal Financial Group Inc. now owns 535,899 shares of the real estate investment trust's stock worth $6,747,000 after acquiring an additional 29,550 shares in the last quarter. Simplify Asset Management Inc. lifted its position in PennyMac Mortgage Investment Trust by 476.0% during the 4th quarter. Simplify Asset Management Inc. now owns 57,600 shares of the real estate investment trust's stock valued at $725,000 after acquiring an additional 47,600 shares during the period. Finally, Dana Investment Advisors Inc. boosted its stake in PennyMac Mortgage Investment Trust by 5.1% during the fourth quarter. Dana Investment Advisors Inc. now owns 496,570 shares of the real estate investment trust's stock worth $6,252,000 after acquiring an additional 23,948 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Jones Trading reaffirmed a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 24th. UBS Group lowered their price objective on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company dropped their target price on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods reduced their price target on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating for the company in a report on Thursday, April 24th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $14.50.

PennyMac Mortgage Investment Trust Stock Up 1.8%

NYSE PMT traded up $0.24 during mid-day trading on Thursday, reaching $13.07. The stock had a trading volume of 123,145 shares, compared to its average volume of 823,602. The stock has a market cap of $1.14 billion, a PE ratio of 9.82 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 company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41. The company has a fifty day moving average price of $13.48 and a 200 day moving average price of $13.38.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $44.47 million for the quarter, compared to the consensus estimate of $94.36 million. During the same period in the previous year, the company earned $0.39 earnings per share. On average, research analysts expect 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 declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were paid a $0.40 dividend. The ex-dividend date was Friday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.25%. PennyMac Mortgage Investment Trust's dividend payout ratio is presently 172.04%.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 14,530 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total transaction of $210,685.00. Following the transaction, the director now directly owns 64,082 shares of the company's stock, valued at $929,189. This represents a 18.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Catherine A. Lynch purchased 2,878 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was purchased at an average price of $12.15 per share, for a total transaction of $34,967.70. Following the completion of the purchase, the director now owns 49,254 shares in the company, valued at approximately $598,436.10. The trade was a 6.21% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.92% of the company's stock.

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.