Essex Financial Services Inc. Takes $150,000 Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Essex Financial Services Inc. bought a new position in PennyMac Mortgage Investment Trust (NYSE:PMTFree Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,000 shares of the real estate investment trust’s stock, valued at approximately $150,000.

A number of other hedge funds also recently made changes to their positions in PMT. Victory Capital Management Inc. increased its stake in PennyMac Mortgage Investment Trust by 16.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,702 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 2,439 shares during the last quarter. Kestra Private Wealth Services LLC bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter worth $183,000. Van ECK Associates Corp raised its stake in PennyMac Mortgage Investment Trust by 1.3% during the fourth quarter. Van ECK Associates Corp now owns 459,810 shares of the real estate investment trust’s stock valued at $6,874,000 after purchasing an additional 5,963 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in PennyMac Mortgage Investment Trust during the fourth quarter valued at $204,000. Finally, Significant Wealth Partners LLC purchased a new position in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth $896,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Trading Up 1.4 %

Shares of NYSE PMT opened at $14.70 on Friday. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.52 and a fifty-two week high of $15.89. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.28 and a current ratio of 0.34. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 9.80 and a beta of 1.47. The business’s 50 day moving average price is $14.14 and its 200-day moving average price is $14.07.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $0.40 dividend. The ex-dividend date was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 10.88%. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

Analyst Ratings Changes

Several analysts have recently issued reports on PMT shares. 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 target price on the stock. Wedbush reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29th. 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 report on Wednesday, February 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.75.

View Our Latest Research Report on PMT

Insider Activity

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the business’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 sale, the director now directly owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.89% of the company’s stock.

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.

See Also

Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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