Advisors Asset Management Inc. Lowers Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Advisors Asset Management Inc. decreased its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 30.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,455 shares of the real estate investment trust’s stock after selling 645 shares during the period. Advisors Asset Management Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $29,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 3.8% in the first quarter. BlackRock Inc. now owns 18,396,373 shares of the real estate investment trust’s stock valued at $360,571,000 after acquiring an additional 667,214 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of PennyMac Mortgage Investment Trust by 62.4% in the first quarter. BNP Paribas Arbitrage SA now owns 69,245 shares of the real estate investment trust’s stock valued at $1,357,000 after acquiring an additional 26,612 shares in the last quarter. Lebenthal Global Advisors LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 110.1% in the first quarter. Lebenthal Global Advisors LLC now owns 11,216 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 5,878 shares in the last quarter. Swiss National Bank boosted its holdings in shares of PennyMac Mortgage Investment Trust by 0.5% in the first quarter. Swiss National Bank now owns 225,700 shares of the real estate investment trust’s stock valued at $4,424,000 after acquiring an additional 1,200 shares in the last quarter. Finally, IndexIQ Advisors LLC boosted its holdings in PennyMac Mortgage Investment Trust by 7.4% during the first quarter. IndexIQ Advisors LLC now owns 37,936 shares of the real estate investment trust’s stock worth $744,000 after buying an additional 2,598 shares in the last quarter. 68.79% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Marianne Sullivan sold 7,583 shares of the firm’s stock in a transaction on Monday, June 7th. The stock was sold at an average price of $20.17, for a total transaction of $152,949.11. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Scott W. Carnahan sold 1,419 shares of the firm’s stock in a transaction on Wednesday, June 2nd. The stock was sold at an average price of $19.92, for a total value of $28,266.48. Following the sale, the director now owns 58,110 shares in the company, valued at approximately $1,157,551.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,776 shares of company stock worth $196,463. 0.84% of the stock is owned by insiders.

Shares of NYSE:PMT opened at $20.64 on Friday. The company’s fifty day moving average is $19.72. The firm has a market cap of $2.02 billion, a PE ratio of 2.99 and a beta of 1.17. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.29. PennyMac Mortgage Investment Trust has a one year low of $13.82 and a one year high of $20.96.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Thursday, May 6th. The real estate investment trust reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. PennyMac Mortgage Investment Trust had a return on equity of 35.75% and a net margin of 60.51%. As a group, equities analysts anticipate that PennyMac Mortgage Investment Trust will post 2.34 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 29th. Shareholders of record on Thursday, April 15th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 9.11%. The ex-dividend date of this dividend was Wednesday, April 14th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 696.30%.

PMT has been the subject of a number of research reports. BTIG Research reiterated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research report on Friday, April 23rd. Barclays raised their price objective on PennyMac Mortgage Investment Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday. TheStreet raised PennyMac Mortgage Investment Trust from a “d+” rating to a “c-” rating in a research note on Thursday, March 25th. Wells Fargo & Company raised their price objective on PennyMac Mortgage Investment Trust from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, May 13th. Finally, Zacks Investment Research downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, May 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. PennyMac Mortgage Investment Trust has an average rating of “Hold” and a consensus price target of $19.75.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in mortgage-related assets in the United States. The company operates through Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

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Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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