Boston Partners Raises Stock Holdings in PennyMac Mortgage Investment Trust $PMT

Boston Partners boosted its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 20.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,249,758 shares of the real estate investment trust’s stock after acquiring an additional 216,056 shares during the quarter. Boston Partners’ holdings in PennyMac Mortgage Investment Trust were worth $15,873,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 0.3% during the first quarter. Vanguard Group Inc. now owns 9,623,312 shares of the real estate investment trust’s stock worth $140,982,000 after purchasing an additional 30,334 shares during the period. Voya Investment Management LLC increased its holdings in PennyMac Mortgage Investment Trust by 71.7% in the 1st quarter. Voya Investment Management LLC now owns 155,481 shares of the real estate investment trust’s stock worth $2,278,000 after buying an additional 64,912 shares during the period. Jump Financial LLC purchased a new position in PennyMac Mortgage Investment Trust during the 1st quarter worth approximately $1,383,000. Caxton Associates LLP purchased a new position in PennyMac Mortgage Investment Trust during the 1st quarter worth approximately $1,331,000. Finally, Public Sector Pension Investment Board lifted its stake in PennyMac Mortgage Investment Trust by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 275,423 shares of the real estate investment trust’s stock valued at $4,035,000 after acquiring an additional 59,008 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Zacks Research upgraded shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday. UBS Group increased their price target on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company began coverage on PennyMac Mortgage Investment Trust in a report on Monday, August 25th. They issued an “equal weight” rating and a $13.00 price objective for the company. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.88.

Insiders Place Their Bets

In related news, Director Catherine A. Lynch acquired 2,823 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were acquired at an average cost of $12.02 per share, with a total value of $33,932.46. Following the completion of the acquisition, the director directly owned 54,711 shares in the company, valued at approximately $657,626.22. This trade represents a 5.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Spector bought 10,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was bought at an average price of $12.40 per share, for a total transaction of $124,000.00. Following the transaction, the chief executive officer owned 357,794 shares of the company’s stock, valued at approximately $4,436,645.60. This trade represents a 2.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 14,293 shares of company stock valued at $176,557 over the last 90 days. 0.92% of the stock is currently owned by company insiders.

PennyMac Mortgage Investment Trust Price Performance

NYSE:PMT opened at $12.84 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.57 and a debt-to-equity ratio of 0.66. PennyMac Mortgage Investment Trust has a 52 week low of $11.60 and a 52 week high of $14.93. The stock’s 50-day moving average price is $12.30 and its 200-day moving average price is $12.40. The stock has a market capitalization of $1.12 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 2.73 and a beta of 1.29.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $99.23 million for the quarter, compared to the consensus estimate of $97.91 million. As a group, equities analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 10th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 12.5%. The ex-dividend date of this dividend was Friday, October 10th. PennyMac Mortgage Investment Trust’s payout ratio is presently 175.82%.

PennyMac Mortgage Investment Trust Profile

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.