PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,810 shares of the real estate investment trust’s stock after purchasing an additional 5,963 shares during the quarter. Van ECK Associates Corp owned about 0.53% of PennyMac Mortgage Investment Trust worth $6,874,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in PennyMac Mortgage Investment Trust by 1,307.8% in 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 in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in PennyMac Mortgage Investment Trust by 23.2% during the 3rd 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 purchasing an additional 284,200 shares during the last quarter. Advisors Preferred LLC acquired a new position in PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $2,105,000. Charles Schwab Investment Management Inc. raised its holdings in shares of PennyMac Mortgage Investment Trust by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,299,582 shares of the real estate investment trust’s stock worth $16,115,000 after buying an additional 78,311 shares during the last quarter. Finally, Significant Wealth Partners LLC acquired a new position in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at $896,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $14.34, for a total value of $111,995.40. Following the completion of the transaction, the director now owns 53,311 shares in the company, valued at $764,479.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.89% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on PMT. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th. B. Riley increased their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, January 10th. They set a “hold” rating and a $15.00 price target for the company. Finally, Wedbush reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.75.

PennyMac Mortgage Investment Trust Trading Up 1.4 %

PennyMac Mortgage Investment Trust stock opened at $14.70 on Friday. The firm has a market cap of $1.28 billion, a PE ratio of 9.80 and a beta of 1.47. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89. The stock’s 50 day simple moving average is $14.12 and its two-hundred day simple moving average is $14.03. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 1.37.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 10.88%. The ex-dividend date of this dividend was Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 106.67%.

PennyMac Mortgage Investment Trust Company 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.