PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 5.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 586,289 shares of the real estate investment trust’s stock after selling 35,844 shares during the period. Van ECK Associates Corp owned about 0.67% of PennyMac Mortgage Investment Trust worth $7,927,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PMT. BNP Paribas Financial Markets lifted its holdings in PennyMac Mortgage Investment Trust by 20.6% in the first quarter. BNP Paribas Financial Markets now owns 52,493 shares of the real estate investment trust’s stock worth $771,000 after acquiring an additional 8,966 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in PennyMac Mortgage Investment Trust by 12.4% in the first quarter. Janney Montgomery Scott LLC now owns 54,021 shares of the real estate investment trust’s stock worth $793,000 after acquiring an additional 5,974 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in PennyMac Mortgage Investment Trust by 76.7% in the first quarter. GSA Capital Partners LLP now owns 77,407 shares of the real estate investment trust’s stock worth $1,136,000 after acquiring an additional 33,605 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in 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 acquiring an additional 1,179 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in PennyMac Mortgage Investment Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust’s stock worth $257,000 after acquiring an additional 1,207 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PMT has been the topic of a number of recent research reports. Piper Sandler cut their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. B. Riley reaffirmed a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. Wedbush reaffirmed a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. JMP Securities lifted their price target on 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. Finally, Keefe, Bruyette & Woods cut their price target on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.93.

Insider Buying and Selling

In other news, Director Doug Jones sold 37,010 shares of the firm’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 transaction of $518,510.10. Following the completion of the sale, the director now owns 49,114 shares of the company’s stock, valued at approximately $688,087.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Trading Up 0.5 %

Shares of NYSE:PMT opened at $13.44 on Thursday. The stock has a market capitalization of $1.17 billion, a PE ratio of 9.88 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 1 year low of $12.81 and a 1 year high of $15.89. The firm has a fifty day moving average price of $13.98 and a 200 day moving average price of $13.96. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.56.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. The business had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. Analysts expect that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.90%. The ex-dividend date was Friday, October 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 117.65%.

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.