Commonwealth Equity Services LLC Reduces Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Commonwealth Equity Services LLC cut its stake in PennyMac Mortgage Investment Trust (NYSE:PMT) by 9.5% in the fourth quarter, Holdings Channel reports. The fund owned 30,124 shares of the real estate investment trust’s stock after selling 3,158 shares during the period. Commonwealth Equity Services LLC’s holdings in PennyMac Mortgage Investment Trust were worth $379,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth about $25,000. Versant Capital Management Inc increased its holdings in shares of PennyMac Mortgage Investment Trust by 58.0% in the 4th quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 822 shares during the period. Principal Securities Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 2,042.9% during the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 2,288 shares during the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth $39,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 14,530 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total value of $210,685.00. Following the transaction, the director now owns 64,082 shares in the company, valued at approximately $929,189. The trade was a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.89% of the stock is currently owned by corporate insiders.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE:PMT opened at $13.68 on Monday. PennyMac Mortgage Investment Trust has a one year low of $11.77 and a one year high of $15.22. The stock has a market cap of $1.19 billion, a PE ratio of 10.29 and a beta of 1.17. The business’s fifty day moving average price is $14.11 and its two-hundred day moving average price is $13.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. On average, analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.60 annualized dividend and a yield of 11.69%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 120.30%.

Analyst Upgrades and Downgrades

Separately, JMP Securities restated a “market outperform” rating and issued a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.20.

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.