Samalin Investment Counsel LLC Has $375,000 Position in PennyMac Mortgage Investment Trust $PMT

Samalin Investment Counsel LLC grew its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 74.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,158 shares of the real estate investment trust’s stock after acquiring an additional 12,480 shares during the period. Samalin Investment Counsel LLC’s holdings in PennyMac Mortgage Investment Trust were worth $375,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Trust Co. of Vermont acquired a new stake in PennyMac Mortgage Investment Trust in the 2nd quarter valued at about $25,000. Allworth Financial LP increased its position in PennyMac Mortgage Investment Trust by 1,741.7% during the second quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 2,003 shares during the last quarter. Signaturefd LLC increased its position in PennyMac Mortgage Investment Trust by 53.8% during the second quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 870 shares during the last quarter. Russell Investments Group Ltd. raised its stake in PennyMac Mortgage Investment Trust by 196.5% in the first quarter. Russell Investments Group Ltd. now owns 3,262 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 2,162 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of PennyMac Mortgage Investment Trust by 71.2% in the first quarter. PNC Financial Services Group Inc. now owns 9,968 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 4,147 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PennyMac Mortgage Investment Trust news, Director Catherine A. Lynch acquired 2,823 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was acquired at an average price of $12.02 per share, for a total transaction of $33,932.46. Following the purchase, the director directly owned 54,711 shares of the company’s stock, valued at $657,626.22. This trade represents a 5.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

PMT has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods downgraded PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and cut their price target for the company from $14.50 to $13.50 in a report on Friday, July 25th. Zacks Research raised shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 21st. UBS Group increased their price objective on shares of PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company initiated coverage on shares of PennyMac Mortgage Investment Trust in a research note on Monday, August 25th. They set an “equal weight” rating and a $13.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.88.

PennyMac Mortgage Investment Trust Stock Performance

NYSE:PMT opened at $12.20 on Tuesday. The stock has a 50 day simple moving average of $12.22 and a 200 day simple moving average of $12.41. The stock has a market cap of $1.06 billion, a P/E ratio of 13.41, a PEG ratio of 2.73 and a beta of 1.29. PennyMac Mortgage Investment Trust has a 1-year low of $11.60 and a 1-year high of $14.93. The company has a current ratio of 0.57, a quick ratio of 0.80 and a debt-to-equity ratio of 0.66.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.19. PennyMac Mortgage Investment Trust had a return on equity of 9.01% and a net margin of 37.92%.The firm had revenue of $99.23 million for the quarter, compared to analysts’ expectations of $97.91 million. Research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 10th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 13.1%. The ex-dividend date of this dividend was Friday, October 10th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 175.82%.

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.