Simplify Asset Management Inc. Makes New $143,000 Investment in PennyMac Mortgage Investment Trust (NYSE:PMT)

Simplify Asset Management Inc. purchased a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,000 shares of the real estate investment trust’s stock, valued at approximately $143,000.

A number of other institutional investors and hedge funds have also modified their holdings of PMT. Louisiana State Employees Retirement System grew its stake in PennyMac Mortgage Investment Trust by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust’s stock valued at $601,000 after buying an additional 800 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in PennyMac Mortgage Investment Trust by 5.0% during the third quarter. QRG Capital Management Inc. now owns 23,036 shares of the real estate investment trust’s stock valued at $328,000 after acquiring an additional 1,093 shares during the period. Inspire Investing LLC grew its position in shares of PennyMac Mortgage Investment Trust by 4.7% in the second quarter. Inspire Investing LLC now owns 25,564 shares of the real estate investment trust’s stock valued at $352,000 after purchasing an additional 1,144 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of PennyMac Mortgage Investment Trust by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 75,812 shares of the real estate investment trust’s stock worth $1,113,000 after purchasing an additional 1,179 shares during the period. Finally, ProShare Advisors LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust’s stock worth $257,000 after purchasing an additional 1,207 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the transaction, the director now owns 49,114 shares in the company, valued at $688,087.14. This represents a 42.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PMT shares. B. Riley reissued a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. JMP Securities increased their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Wedbush restated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Keefe, Bruyette & Woods decreased their target price on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, Piper Sandler reduced their price objective on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.93.

PennyMac Mortgage Investment Trust Price Performance

PMT traded down $0.03 during midday trading on Friday, reaching $13.03. 129,326 shares of the company’s stock were exchanged, compared to its average volume of 736,624. PennyMac Mortgage Investment Trust has a one year low of $12.81 and a one year high of $15.89. The company has a quick ratio of 0.85, a current ratio of 0.41 and a debt-to-equity ratio of 1.56. The business has a 50-day simple moving average of $13.89 and a two-hundred day simple moving average of $13.94. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 9.58 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. The company had revenue of $80.86 million during the quarter, compared to analyst estimates of $93.75 million. During the same period in the prior year, the firm earned $0.51 EPS. As a group, research analysts predict that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 12.28%. The ex-dividend date of this dividend was Friday, October 11th. PennyMac Mortgage Investment Trust’s payout ratio is currently 117.65%.

About PennyMac Mortgage Investment Trust

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.