PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Acquired by Whittier Trust Co.

Whittier Trust Co. lifted its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,897 shares of the real estate investment trust’s stock after buying an additional 2,694 shares during the period. Whittier Trust Co. owned approximately 0.09% of PennyMac Mortgage Investment Trust worth $1,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC increased its holdings in PennyMac Mortgage Investment Trust by 97.9% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,021 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 1,000 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $45,000. NEXT Financial Group Inc increased its holdings in PennyMac Mortgage Investment Trust by 334.0% in the 2nd quarter. NEXT Financial Group Inc now owns 2,756 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 2,121 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $149,000. Finally, NumerixS Investment Technologies Inc increased its holdings in PennyMac Mortgage Investment Trust by 709.8% in the 1st quarter. NumerixS Investment Technologies Inc now owns 8,908 shares of the real estate investment trust’s stock valued at $186,000 after purchasing an additional 7,808 shares during the last quarter. Institutional investors and hedge funds own 70.69% of the company’s stock.

PMT has been the subject of several research reports. Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a report on Wednesday. Piper Jaffray Companies initiated coverage on shares of PennyMac Mortgage Investment Trust in a report on Friday, May 24th. They issued an “overweight” rating and a $23.00 target price for the company. Finally, Wedbush reiterated a “neutral” rating on shares of PennyMac Mortgage Investment Trust in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $22.25.

In other PennyMac Mortgage Investment Trust news, insider Jeffrey Grogin sold 1,862 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $18.69, for a total value of $34,800.78. Following the completion of the transaction, the insider now owns 36,642 shares in the company, valued at $684,838.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.45% of the company’s stock.

Shares of NYSE:PMT traded up $0.14 during trading on Friday, hitting $21.94. The company’s stock had a trading volume of 1,206,422 shares, compared to its average volume of 688,499. The firm’s 50 day simple moving average is $21.95. The stock has a market cap of $1.49 billion, a P/E ratio of 9.28, a PEG ratio of 2.08 and a beta of 0.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.38 and a quick ratio of 0.38. PennyMac Mortgage Investment Trust has a fifty-two week low of $17.88 and a fifty-two week high of $22.62.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The business had revenue of $96.40 million during the quarter, compared to the consensus estimate of $104.95 million. PennyMac Mortgage Investment Trust had a net margin of 47.03% and a return on equity of 14.11%. During the same quarter in the previous year, the firm posted $0.70 earnings per share. On average, equities analysts predict that PennyMac Mortgage Investment Trust will post 2.16 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.88 annualized dividend and a dividend yield of 8.57%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 94.47%.

PennyMac Mortgage Investment Trust Company 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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