Smith Graham & Co. Investment Advisors LP decreased its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 1.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 389,433 shares of the real estate investment trust’s stock after selling 4,250 shares during the quarter. Smith Graham & Co. Investment Advisors LP’s holdings in PennyMac Mortgage Investment Trust were worth $8,065,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PMT. Bank of Montreal Can increased its holdings in PennyMac Mortgage Investment Trust by 69.1% in the 4th quarter. Bank of Montreal Can now owns 1,461 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 597 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at $59,000. Meeder Asset Management Inc. bought a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at $85,000. Bronfman E.L. Rothschild L.P. increased its holdings in PennyMac Mortgage Investment Trust by 35,193.8% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 5,647 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 5,631 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in PennyMac Mortgage Investment Trust by 1,138.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,677 shares of the real estate investment trust’s stock valued at $135,000 after acquiring an additional 6,138 shares during the last quarter. Institutional investors own 66.16% of the company’s stock.

A number of analysts have issued reports on PMT shares. Zacks Investment Research downgraded shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. ValuEngine downgraded shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $22.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Tuesday, February 12th. Nomura initiated coverage on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, March 27th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Barclays set a $21.00 target price on shares of PennyMac Mortgage Investment Trust and gave the stock a “hold” rating in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $21.86.

In other news, Director Scott W. Carnahan sold 5,721 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $20.75, for a total value of $118,710.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Spector sold 35,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $20.61, for a total transaction of $721,350.00. The disclosure for this sale can be found here. Insiders own 2.46% of the company’s stock.

Shares of PennyMac Mortgage Investment Trust stock traded up $0.10 during trading hours on Tuesday, reaching $20.92. The company’s stock had a trading volume of 4,972 shares, compared to its average volume of 595,521. PennyMac Mortgage Investment Trust has a one year low of $17.29 and a one year high of $21.42. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.56. The company has a market cap of $1.41 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 2.31 and a beta of 0.60.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Thursday, February 7th. The real estate investment trust reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. PennyMac Mortgage Investment Trust had a net margin of 43.52% and a return on equity of 12.19%. The firm had revenue of $83.90 million for the quarter, compared to the consensus estimate of $138.40 million. During the same period in the previous year, the firm posted $0.32 EPS. The business’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts expect that PennyMac Mortgage Investment Trust will post 1.8 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Monday, April 15th will be issued a $0.47 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 8.99%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 94.47%.

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PennyMac Mortgage Investment Trust Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

See Also: Price to Earnings Ratio (PE) Basics

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

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