Aigen Investment Management LP Buys Shares of 10,650 PennyMac Mortgage Investment Trust (NYSE:PMT)

Aigen Investment Management LP bought a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,650 shares of the real estate investment trust’s stock, valued at approximately $152,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PMT. International Assets Investment Management LLC raised its position in PennyMac Mortgage Investment Trust by 1,607.2% in the third quarter. International Assets Investment Management LLC now owns 367,908 shares of the real estate investment trust’s stock valued at $5,246,000 after purchasing an additional 346,358 shares during the period. Wolverine Asset Management LLC raised its position in PennyMac Mortgage Investment Trust by 105.8% in the third quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust’s stock valued at $6,578,000 after purchasing an additional 237,210 shares during the period. Jane Street Group LLC raised its position in PennyMac Mortgage Investment Trust by 124.7% in the first quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust’s stock valued at $4,277,000 after purchasing an additional 161,723 shares during the period. Millennium Management LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 223.1% in the second quarter. Millennium Management LLC now owns 232,576 shares of the real estate investment trust’s stock valued at $3,198,000 after buying an additional 160,595 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of PennyMac Mortgage Investment Trust by 34.4% in the second quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock valued at $8,554,000 after buying an additional 159,131 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Insider Transactions at PennyMac Mortgage Investment Trust

In other 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 completion of the transaction, the director now directly owns 49,114 shares of the company’s stock, valued at approximately $688,087.14. This represents a 42.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Performance

PMT opened at $13.06 on Monday. PennyMac Mortgage Investment Trust has a 12 month low of $12.81 and a 12 month high of $15.89. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 9.60 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.85. The business has a fifty day moving average price of $13.88 and a 200 day moving average price of $13.93.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $80.86 million for the quarter, compared to analyst estimates of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same period in the previous year, the firm earned $0.51 earnings per share. Sell-side analysts expect that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 12.25%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 117.65%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PMT shares. Wedbush reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. B. Riley reaffirmed a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. Piper Sandler dropped their price objective on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods dropped their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.93.

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.