PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,112 shares of the real estate investment trust’s stock after selling 874 shares during the quarter. Hsbc Holdings PLC’s holdings in PennyMac Mortgage Investment Trust were worth $127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. increased its stake in 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 purchasing an additional 1,361,282 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,520,394 shares of the real estate investment trust’s stock valued at $19,142,000 after buying an additional 63,781 shares during the period. First Trust Advisors LP grew its position in shares of PennyMac Mortgage Investment Trust by 5.5% during the 4th quarter. First Trust Advisors LP now owns 772,213 shares of the real estate investment trust’s stock valued at $9,722,000 after buying an additional 40,270 shares during the last quarter. Van ECK Associates Corp grew its position in shares of PennyMac Mortgage Investment Trust by 9.8% during the 4th quarter. Van ECK Associates Corp now owns 643,570 shares of the real estate investment trust’s stock valued at $8,103,000 after buying an additional 57,281 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in PennyMac Mortgage Investment Trust by 5.8% during the fourth 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 during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT stock opened at $12.75 on Monday. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month 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 firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 9.59 and a beta of 1.32. The business has a 50 day simple moving average of $13.58 and a 200 day simple moving average of $13.39.

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

PennyMac Mortgage Investment Trust Announces Dividend

The business 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. This represents a $1.60 annualized dividend and a yield of 12.55%. The ex-dividend date was Friday, April 11th. PennyMac Mortgage Investment Trust’s payout ratio is currently 172.04%.

Insider Activity at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 14,530 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the sale, the director now owns 64,082 shares in the company, valued at $929,189. This represents a 18.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Catherine A. Lynch bought 2,878 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The shares were purchased at an average cost of $12.15 per share, with a total value of $34,967.70. Following the purchase, the director now directly owns 49,254 shares of the company’s stock, valued at approximately $598,436.10. This represents a 6.21% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PMT shares. UBS Group decreased their target price 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. JMP Securities restated a “market outperform” rating and set a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Jones Trading restated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. Wells Fargo & Company cut 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 research note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods reduced their price target on shares of 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.50.

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.