First Trust Advisors LP Boosts Stock Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

First Trust Advisors LP raised its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 772,213 shares of the real estate investment trust’s stock after purchasing an additional 40,270 shares during the period. First Trust Advisors LP’s holdings in PennyMac Mortgage Investment Trust were worth $9,722,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Invesco Ltd. increased its stake in shares of PennyMac Mortgage Investment Trust by 167.5% in the fourth quarter. Invesco Ltd. now owns 2,173,869 shares of the real estate investment trust’s stock worth $27,369,000 after purchasing an additional 1,361,282 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in PennyMac Mortgage Investment Trust by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,520,394 shares of the real estate investment trust’s stock valued at $19,142,000 after acquiring an additional 63,781 shares in the last quarter. JPMorgan Chase & Co. grew its stake in PennyMac Mortgage Investment Trust by 1.5% during the third quarter. JPMorgan Chase & Co. now owns 1,219,206 shares of the real estate investment trust’s stock valued at $17,386,000 after acquiring an additional 18,122 shares in the last quarter. Van ECK Associates Corp grew its stake in PennyMac Mortgage Investment Trust by 9.8% during the fourth quarter. Van ECK Associates Corp now owns 643,570 shares of the real estate investment trust’s stock valued at $8,103,000 after acquiring an additional 57,281 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in PennyMac Mortgage Investment Trust by 5.8% during the fourth quarter. Principal Financial Group Inc. now owns 535,899 shares of the real estate investment trust’s stock valued at $6,747,000 after acquiring an additional 29,550 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Trading Up 3.4 %

Shares of PMT opened at $12.62 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41. 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 price of $13.86 and a 200-day moving average price of $13.46. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 9.49 and a beta of 1.17.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.38 by ($0.39). PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. The firm had revenue of $44.47 million during the quarter, compared to analysts’ expectations of $94.36 million. During the same period in the previous year, the firm earned $0.39 earnings per share. As a group, equities research analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 12.68%. The ex-dividend date of this dividend was Friday, April 11th. PennyMac Mortgage Investment Trust’s payout ratio is 172.04%.

Insider Buying and Selling

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the sale, the director now directly owns 64,082 shares in the company, valued at $929,189. This trade represents a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Catherine A. Lynch acquired 2,878 shares of the stock in a transaction on Thursday, April 24th. The stock was bought at an average price of $12.15 per share, with a total value of $34,967.70. Following the completion of the acquisition, the director now directly owns 49,254 shares of the company’s stock, valued at $598,436.10. This trade represents a 6.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.89% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group reduced their price objective on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Jones Trading reiterated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, JMP Securities restated a “market outperform” rating and issued a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.75.

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.