Raymond James Financial Inc. Invests $1.30 Million in PennyMac Mortgage Investment Trust (NYSE:PMT)

Raymond James Financial Inc. bought a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 103,277 shares of the real estate investment trust's stock, valued at approximately $1,300,000. Raymond James Financial Inc. owned 0.12% of PennyMac Mortgage Investment Trust at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PMT. Renaissance Technologies LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at $2,139,000. Invesco Ltd. raised its holdings in shares of PennyMac Mortgage Investment Trust by 167.5% during the fourth quarter. Invesco Ltd. now owns 2,173,869 shares of the real estate investment trust's stock valued at $27,369,000 after buying an additional 1,361,282 shares during the last quarter. Polymer Capital Management US LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at $230,000. Wedbush Securities Inc. lifted its position in shares of PennyMac Mortgage Investment Trust by 41.0% in the fourth quarter. Wedbush Securities Inc. now owns 76,125 shares of the real estate investment trust's stock worth $958,000 after buying an additional 22,150 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter worth about $1,057,000. Hedge funds and other institutional investors own 67.38% of the company's stock.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT traded up $0.04 on Friday, hitting $12.73. The company's stock had a trading volume of 78,041 shares, compared to its average volume of 820,925. 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 market capitalization of $1.11 billion, a PE ratio of 9.57 and a beta of 1.32. The company has a 50 day moving average price of $13.61 and a 200 day moving average price of $13.40. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $15.22.

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

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.60 annualized dividend and a yield of 12.57%. PennyMac Mortgage Investment Trust's payout ratio is 172.04%.

Wall Street Analyst Weigh In

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

Insider Transactions at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of the firm's 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 completion of the transaction, the director now owns 64,082 shares of the company's stock, valued at approximately $929,189. This trade represents a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Catherine A. Lynch purchased 2,878 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Thursday, April 24th. The shares were bought at an average cost of $12.15 per share, for a total transaction of $34,967.70. Following the completion of the transaction, the director now directly owns 49,254 shares in the company, valued at $598,436.10. This represents a 6.21 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.89% of the company's stock.

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.