Geode Capital Management LLC Sells 7,516 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Geode Capital Management LLC trimmed its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 0.4% during the fourth quarter, HoldingsChannel reports. The firm owned 2,014,406 shares of the real estate investment trust’s stock after selling 7,516 shares during the quarter. Geode Capital Management LLC’s holdings in PennyMac Mortgage Investment Trust were worth $25,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PMT. Norges Bank acquired a new position in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at approximately $5,212,000. GraniteShares Advisors LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at approximately $2,461,000. Raymond James Financial Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth about $1,300,000. Barclays PLC increased its position in 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 buying an additional 102,067 shares during the last quarter. Finally, Angel Oak Capital Advisors LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth approximately $1,186,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PMT shares. JMP Securities restated a “market outperform” rating and set a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 23rd. UBS Group decreased their price objective on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

PennyMac Mortgage Investment Trust Stock Up 2.3 %

PMT stock opened at $12.99 on Friday. The company has a market cap of $1.13 billion, a PE ratio of 9.76 and a beta of 1.17. 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 has a 52 week low of $11.77 and a 52 week high of $15.22. The business has a 50-day simple moving average of $14.02 and a 200 day simple moving average of $13.55.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 EPS for the quarter, beating 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%. Sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 12.32%. The ex-dividend date is Friday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 120.30%.

Insider Activity

In related news, Director Doug Jones sold 14,530 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred 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 transaction, the director now directly owns 64,082 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is currently owned by insiders.

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.