B. Riley Wealth Advisors Inc. boosted its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT – Free Report) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 180,378 shares of the real estate investment trust’s stock after acquiring an additional 4,041 shares during the period. B. Riley Wealth Advisors Inc. owned 0.21% of PennyMac Mortgage Investment Trust worth $2,237,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Deutsche Bank AG raised its stake in shares of PennyMac Mortgage Investment Trust by 12.4% in the third quarter. Deutsche Bank AG now owns 44,166 shares of the real estate investment trust’s stock valued at $548,000 after acquiring an additional 4,878 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter worth approximately $1,023,000. Tudor Investment Corp Et Al increased its stake in shares of PennyMac Mortgage Investment Trust by 20.0% during the third quarter. Tudor Investment Corp Et Al now owns 19,019 shares of the real estate investment trust’s stock worth $236,000 after acquiring an additional 3,164 shares during the period. Penserra Capital Management LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 9.4% during the 3rd quarter. Penserra Capital Management LLC now owns 59,301 shares of the real estate investment trust’s stock worth $735,000 after buying an additional 5,088 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of PennyMac Mortgage Investment Trust by 22.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 42,806 shares of the real estate investment trust’s stock worth $531,000 after purchasing an additional 7,953 shares during the period. Institutional investors and hedge funds own 66.89% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. UBS Group assumed coverage on PennyMac Mortgage Investment Trust in a report on Wednesday, December 6th. They set a “neutral” rating and a $13.50 target price on the stock. B. Riley raised their price objective on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on PennyMac Mortgage Investment Trust in a research note on Wednesday, January 10th. They issued a “hold” rating and a $15.00 target price for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average target price of $14.58.
Read Our Latest Research Report on PMT
PennyMac Mortgage Investment Trust Stock Down 2.3 %
NYSE PMT opened at $14.09 on Friday. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89. The company’s 50 day simple moving average is $14.23 and its 200 day simple moving average is $13.66. The company has a market capitalization of $1.22 billion, a P/E ratio of 8.75 and a beta of 1.48. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.28 and a quick ratio of 0.28.
Insiders Place Their Bets
In related news, Director Doug Jones sold 7,810 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $14.34, for a total transaction of $111,995.40. Following the transaction, the director now owns 53,311 shares of the company’s stock, valued at $764,479.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.90% of the company’s stock.
PennyMac Mortgage Investment Trust 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.
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