Arrowstreet Capital Limited Partnership Takes Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Arrowstreet Capital Limited Partnership acquired a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 83,963 shares of the real estate investment trust’s stock, valued at approximately $1,057,000. Arrowstreet Capital Limited Partnership owned 0.10% of PennyMac Mortgage Investment Trust as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PMT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 90.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,436 shares of the real estate investment trust’s stock worth $2,487,000 after purchasing an additional 82,735 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 56.1% during the third quarter. HighTower Advisors LLC now owns 32,023 shares of the real estate investment trust’s stock valued at $454,000 after acquiring an additional 11,509 shares during the period. Stifel Financial Corp boosted its holdings in shares of PennyMac Mortgage Investment Trust by 169.6% during the third quarter. Stifel Financial Corp now owns 34,301 shares of the real estate investment trust’s stock valued at $489,000 after acquiring an additional 21,580 shares during the period. Barclays PLC grew its position in shares of PennyMac Mortgage Investment Trust by 218.7% during the third quarter. Barclays PLC now owns 148,734 shares of the real estate investment trust’s stock worth $2,121,000 after acquiring an additional 102,067 shares during the last quarter. Finally, Vestcor Inc increased its holdings in shares of PennyMac Mortgage Investment Trust by 136.5% in the 3rd quarter. Vestcor Inc now owns 71,565 shares of the real estate investment trust’s stock worth $1,021,000 after acquiring an additional 41,300 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were 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 directly owns 64,082 shares of the company’s stock, valued at approximately $929,189. This represents a 18.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.89% of the stock is owned by insiders.

Analysts Set New Price Targets

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

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE PMT opened at $12.23 on Friday. The stock has a market cap of $1.06 billion, a P/E ratio of 9.19 and a beta of 1.17. The firm’s 50-day simple moving average is $14.08 and its 200 day simple moving average is $13.58. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $15.22. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 EPS for the quarter, topping analysts’ consensus estimates 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%. Equities analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared 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. This represents a $1.60 dividend on an annualized basis and a yield of 13.09%. The ex-dividend date is Friday, April 11th. PennyMac Mortgage Investment Trust’s payout ratio is currently 120.30%.

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.