Sterling Capital Management LLC Purchases New Position in PennyMac Mortgage Investment Trust (PMT)

Sterling Capital Management LLC purchased a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 54,990 shares of the real estate investment trust’s stock, valued at approximately $1,113,000. Sterling Capital Management LLC owned about 0.09% of PennyMac Mortgage Investment Trust as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 89.3% in the third quarter. Acadian Asset Management LLC now owns 509,520 shares of the real estate investment trust’s stock worth $10,311,000 after buying an additional 240,304 shares in the last quarter. Smith Graham & Co. Investment Advisors LP lifted its stake in shares of PennyMac Mortgage Investment Trust by 8.3% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 413,943 shares of the real estate investment trust’s stock worth $8,378,000 after buying an additional 31,770 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of PennyMac Mortgage Investment Trust in the third quarter worth approximately $1,372,000. First Trust Advisors LP lifted its stake in shares of PennyMac Mortgage Investment Trust by 292.6% in the third quarter. First Trust Advisors LP now owns 528,307 shares of the real estate investment trust’s stock worth $10,693,000 after buying an additional 393,727 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 104.1% in the third quarter. Nisa Investment Advisors LLC now owns 24,900 shares of the real estate investment trust’s stock worth $504,000 after buying an additional 12,700 shares in the last quarter. Institutional investors own 68.19% of the company’s stock.

PMT opened at $20.80 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.54 and a quick ratio of 0.60. PennyMac Mortgage Investment Trust has a twelve month low of $15.09 and a twelve month high of $20.91. The company has a market cap of $1.27 billion, a PE ratio of 11.80, a P/E/G ratio of 2.67 and a beta of 0.39.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.25. PennyMac Mortgage Investment Trust had a net margin of 40.40% and a return on equity of 10.64%. The firm had revenue of $108.50 million during the quarter, compared to analysts’ expectations of $121.87 million. During the same period in the previous year, the company earned $0.47 earnings per share. The firm’s quarterly revenue was up 43.1% on a year-over-year basis. As a group, research analysts predict that PennyMac Mortgage Investment Trust will post 1.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Monday, October 15th were issued a dividend of $0.47 per share. The ex-dividend date was Friday, October 12th. This represents a $1.88 annualized dividend and a dividend yield of 9.04%. PennyMac Mortgage Investment Trust’s payout ratio is 144.62%.

In related news, Director Marianne Sullivan acquired 3,015 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was purchased at an average cost of $19.95 per share, with a total value of $60,149.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Dufauchard Jr. Preston sold 5,300 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were 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 owned by insiders.

Several research analysts have recently issued reports on the stock. JMP Securities upped 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 research note on Friday, November 2nd. ValuEngine upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Barclays boosted their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $18.00 and gave the company an “equal weight” rating in a report on Wednesday, July 25th. Wells Fargo & Co started 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 price objective for the company. Finally, Credit Suisse Group boosted their price objective 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock 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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Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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