Chicago Equity Partners LLC purchased a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 143,345 shares of the real estate investment trust’s stock, valued at approximately $2,901,000. Chicago Equity Partners LLC owned approximately 0.24% of PennyMac Mortgage Investment Trust at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of PMT. LPL Financial LLC acquired a new stake in PennyMac Mortgage Investment Trust in the first quarter valued at $358,000. Guggenheim Capital LLC raised its holdings in PennyMac Mortgage Investment Trust by 79.1% in the first quarter. Guggenheim Capital LLC now owns 134,059 shares of the real estate investment trust’s stock valued at $2,417,000 after acquiring an additional 59,227 shares in the last quarter. Legal & General Group Plc raised its holdings in PennyMac Mortgage Investment Trust by 54.1% in the first quarter. Legal & General Group Plc now owns 163,222 shares of the real estate investment trust’s stock valued at $2,935,000 after acquiring an additional 57,330 shares in the last quarter. Royal Bank of Canada raised its holdings in PennyMac Mortgage Investment Trust by 36.6% in the first quarter. Royal Bank of Canada now owns 39,270 shares of the real estate investment trust’s stock valued at $709,000 after acquiring an additional 10,516 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in PennyMac Mortgage Investment Trust by 3,577.8% in the first quarter. Principal Financial Group Inc. now owns 475,874 shares of the real estate investment trust’s stock valued at $8,580,000 after acquiring an additional 462,935 shares in the last quarter. 68.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:PMT opened at $20.80 on Friday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 2.63 and a beta of 0.39. PennyMac Mortgage Investment Trust has a 1-year low of $15.09 and a 1-year high of $20.91. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.60 and a current ratio of 0.54.
PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.25. The company had revenue of $108.50 million for the quarter, compared to analysts’ expectations of $121.87 million. PennyMac Mortgage Investment Trust had a net margin of 40.40% and a return on equity of 10.64%. The firm’s revenue was up 43.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 earnings per share. As a group, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Monday, October 15th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, October 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.04%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 144.62%.
In other news, Director Marianne Sullivan acquired 3,015 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were acquired at an average price of $19.95 per share, with a total value of $60,149.25. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul Dufauchard Jr. Preston sold 5,300 shares of the stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $19.52, for a total transaction of $103,456.00. The disclosure for this sale can be found here. 2.46% of the stock is currently owned by corporate insiders.
Several analysts recently issued reports on PMT shares. Credit Suisse Group upped their price target on shares of PennyMac Mortgage Investment Trust from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 25th. Wells Fargo & Co assumed coverage on shares of PennyMac Mortgage Investment Trust in a report on Tuesday, September 18th. They set a “market perform” rating and a $20.00 target price on the stock. ValuEngine raised shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Barclays increased their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $18.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 25th. Finally, JMP Securities increased their target price on shares of PennyMac Mortgage Investment Trust from $20.00 to $21.00 and gave the stock a “market outperform” rating in a report on Friday, November 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $20.40.
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PennyMac Mortgage Investment Trust Profile
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).
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