Geode Capital Management LLC Buys 28,689 Shares of PennyMac Mortgage Investment Trust $PMT

Geode Capital Management LLC increased its stake in PennyMac Mortgage Investment Trust (NYSE:PMT) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,096,625 shares of the real estate investment trust’s stock after purchasing an additional 28,689 shares during the period. Geode Capital Management LLC’s holdings in PennyMac Mortgage Investment Trust were worth $26,966,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of PMT. Boston Partners acquired a new position in shares of PennyMac Mortgage Investment Trust during the 1st quarter worth about $14,807,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 71.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,335,101 shares of the real estate investment trust’s stock worth $19,559,000 after buying an additional 557,389 shares during the period. Ieq Capital LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter worth approximately $7,644,000. Jane Street Group LLC acquired a new position in PennyMac Mortgage Investment Trust in the 1st quarter valued at $4,166,000. Finally, Nuveen LLC bought a new position in PennyMac Mortgage Investment Trust during the 1st quarter worth $3,713,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analysts Set New Price Targets

PMT has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Monday. UBS Group lifted their target price on 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. Wells Fargo & Company began coverage on shares of PennyMac Mortgage Investment Trust in a report on Monday, August 25th. They set an “equal weight” rating and a $13.00 price target for the company. Finally, Zacks Research raised PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and an average target price of $13.88.

Insider Transactions at PennyMac Mortgage Investment Trust

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

PennyMac Mortgage Investment Trust Stock Performance

PMT stock opened at $12.84 on Friday. 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. The stock has a 50-day moving average price of $12.30 and a 200-day moving average price of $12.40. The firm has a market cap 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 announced its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $0.55 EPS for the quarter, topping the consensus estimate of $0.36 by $0.19. PennyMac Mortgage Investment Trust had a net margin of 37.92% and a return on equity of 9.01%. The company had revenue of $99.23 million during the quarter, compared to the consensus estimate of $97.91 million. As a group, equities research analysts expect 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 announced a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 10th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.60 annualized dividend and a dividend yield of 12.5%. 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.