Cetera Investment Advisers Increases Stake in PennyMac Mortgage Investment Trust (NYSE:PMT)

Cetera Investment Advisers grew its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,125 shares of the real estate investment trust’s stock after buying an additional 1,553 shares during the quarter. Cetera Investment Advisers owned 0.08% of PennyMac Mortgage Investment Trust worth $992,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PMT. Jane Street Group LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 124.7% during the 1st quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust’s stock worth $4,277,000 after acquiring an additional 161,723 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 173.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 155,309 shares of the real estate investment trust’s stock valued at $2,280,000 after purchasing an additional 98,500 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust during the second quarter worth approximately $302,000. ProShare Advisors LLC grew its position in shares of PennyMac Mortgage Investment Trust by 7.4% during the first quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust’s stock worth $257,000 after buying an additional 1,207 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of PennyMac Mortgage Investment Trust by 0.7% during the first quarter. Van ECK Associates Corp now owns 463,002 shares of the real estate investment trust’s stock worth $6,797,000 after buying an additional 3,192 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Stock Down 0.3 %

PMT stock opened at $14.09 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.51. The business has a 50 day moving average price of $14.01 and a two-hundred day moving average price of $13.99. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 9.39 and a beta of 1.51. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.17). PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. The firm had revenue of $71.20 million during the quarter, compared to the consensus estimate of $90.26 million. During the same quarter last year, the firm earned $0.16 earnings per share. Analysts anticipate that PennyMac Mortgage Investment Trust will post 1.28 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 11.36%. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

Insider Activity

In related news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total transaction of $518,510.10. Following the sale, the director now owns 49,114 shares in the company, valued at $688,087.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders purchased 2,879 shares of company stock valued at $39,028. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

PMT has been the subject of a number of research reports. JMP Securities lifted their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. B. Riley reaffirmed a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. Piper Sandler cut their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Wedbush reiterated a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods cut their target price on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and an average price target of $14.93.

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.