Charles Schwab Investment Management Inc. grew its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT – Free Report) by 6.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,299,582 shares of the real estate investment trust’s stock after purchasing an additional 78,311 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.50% of PennyMac Mortgage Investment Trust worth $16,115,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in PMT. Almitas Capital LLC acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at $28,000. Federated Hermes Inc. raised its holdings in PennyMac Mortgage Investment Trust by 54.9% in the third quarter. Federated Hermes Inc. now owns 3,641 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 1,291 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of PennyMac Mortgage Investment Trust by 53.2% during the first quarter. Tower Research Capital LLC TRC now owns 5,650 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 1,961 shares during the last quarter. State of Wyoming increased its holdings in shares of PennyMac Mortgage Investment Trust by 294.7% in the 4th quarter. State of Wyoming now owns 6,536 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 4,880 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 16.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 6,743 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 974 shares during the period. 66.89% of the stock is owned by institutional investors and hedge funds.
PennyMac Mortgage Investment Trust Trading Up 0.1 %
NYSE PMT opened at $13.95 on Monday. The company has a market capitalization of $1.21 billion, a PE ratio of 8.66 and a beta of 1.50. The stock has a 50-day simple moving average of $14.56 and a 200 day simple moving average of $13.53. The company has a current ratio of 0.28, a quick ratio of 0.31 and a debt-to-equity ratio of 1.37. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89.
PennyMac Mortgage Investment Trust Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, December 29th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.47%. The ex-dividend date was Thursday, December 28th. PennyMac Mortgage Investment Trust’s payout ratio is presently 99.38%.
Insiders Place Their Bets
In other PennyMac Mortgage Investment Trust news, Director Scott W. Carnahan sold 35,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $15.40, for a total value of $539,000.00. Following the completion of the sale, the director now directly owns 18,055 shares in the company, valued at $278,047. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have weighed in on PMT shares. UBS Group assumed coverage on PennyMac Mortgage Investment Trust in a research report on Wednesday, December 6th. They issued a “neutral” rating and a $13.50 target price on the stock. Wedbush boosted their price target on shares of PennyMac Mortgage Investment Trust from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, January 10th. They set a “hold” rating and a $15.00 price objective on the stock. B. Riley increased their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, StockNews.com upgraded shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, PennyMac Mortgage Investment Trust has an average rating of “Hold” and a consensus price target of $14.58.
View Our Latest Report on PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust Company Profile
PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. It operates through four segments: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production, and Corporate. The company’s 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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