Thrivent Financial for Lutherans Sells 1,072 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Thrivent Financial for Lutherans trimmed its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,139 shares of the real estate investment trust’s stock after selling 1,072 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PennyMac Mortgage Investment Trust were worth $845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PMT. Charles Schwab Investment Management Inc. lifted its stake in PennyMac Mortgage Investment Trust by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,456,613 shares of the real estate investment trust’s stock valued at $20,771,000 after buying an additional 18,368 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 90.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,436 shares of the real estate investment trust’s stock valued at $2,487,000 after acquiring an additional 82,735 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 56.1% during the 3rd quarter. HighTower Advisors LLC now owns 32,023 shares of the real estate investment trust’s stock valued at $454,000 after acquiring an additional 11,509 shares during the period. Stifel Financial Corp boosted its stake in PennyMac Mortgage Investment Trust by 169.6% during the third quarter. Stifel Financial Corp now owns 34,301 shares of the real estate investment trust’s stock worth $489,000 after acquiring an additional 21,580 shares in the last quarter. Finally, K2 Principal Fund L.P. acquired a new position in shares of PennyMac Mortgage Investment Trust during the third quarter valued at about $5,841,000. Institutional investors own 67.38% of the company’s stock.

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total transaction of $210,685.00. Following the sale, the director now directly owns 64,082 shares of the company’s stock, valued at $929,189. This represents a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Price Performance

PMT opened at $14.62 on Wednesday. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $15.22. The firm has a 50-day moving average of $14.01 and a 200 day moving average of $13.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market cap of $1.27 billion, a P/E ratio of 10.99 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. On average, research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 10.95%. The ex-dividend date of this dividend is Friday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 120.30%.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market outperform” rating and issued a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.20.

About PennyMac Mortgage Investment Trust

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.