PennyMac Mortgage Investment Trust (NYSE:PMT) Holdings Raised by Stifel Financial Corp

Stifel Financial Corp boosted its stake in PennyMac Mortgage Investment Trust (NYSE:PMT) by 24.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,659 shares of the real estate investment trust’s stock after buying an additional 8,358 shares during the period. Stifel Financial Corp’s holdings in PennyMac Mortgage Investment Trust were worth $537,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Rialto Wealth Management LLC bought a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in PennyMac Mortgage Investment Trust in the third quarter worth approximately $28,000. Principal Securities Inc. boosted its stake in PennyMac Mortgage Investment Trust by 2,042.9% during the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,288 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth $36,000. Finally, Allworth Financial LP bought a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth $39,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

PMT has been the topic of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 23rd. Keefe, Bruyette & Woods reduced their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Jones Trading reiterated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. Wells Fargo & Company cut their target price on shares of PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. Finally, UBS Group decreased their price target on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.50.

Insider Activity

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total transaction of $210,685.00. Following the completion of the sale, the director now directly owns 64,082 shares in the company, valued at approximately $929,189. This trade represents a 18.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Catherine A. Lynch bought 2,878 shares of the stock in a transaction on Thursday, April 24th. The shares were acquired at an average cost of $12.15 per share, for a total transaction of $34,967.70. Following the purchase, the director now owns 49,254 shares in the company, 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. Corporate insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Trading Up 0.5%

Shares of PMT opened at $12.75 on Monday. The business’s 50-day moving average price is $13.58 and its 200 day moving average price is $13.39. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.11 billion, a P/E ratio of 9.59 and a beta of 1.32. PennyMac Mortgage Investment Trust has a 1-year low of $11.77 and a 1-year high of $15.22.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.38 by ($0.39). PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. The firm had revenue of $44.47 million during the quarter, compared to analyst estimates of $94.36 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. Analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a dividend of $0.40 per share. 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 dividend payout ratio (DPR) is currently 172.04%.

PennyMac Mortgage Investment Trust Company 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.