Swiss National Bank Trims Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

Swiss National Bank lessened its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 11.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 192,000 shares of the real estate investment trust’s stock after selling 26,000 shares during the period. Swiss National Bank owned about 0.22% of PennyMac Mortgage Investment Trust worth $2,367,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PMT. Almitas Capital LLC purchased a new position in PennyMac Mortgage Investment Trust during the 4th quarter valued at about $28,000. Federated Hermes Inc. increased its holdings in PennyMac Mortgage Investment Trust by 54.9% during the 3rd quarter. Federated Hermes Inc. now owns 3,641 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 1,291 shares during the period. Tower Research Capital LLC TRC increased its holdings in PennyMac Mortgage Investment Trust by 53.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 5,650 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 1,961 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in PennyMac Mortgage Investment Trust by 575.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,769 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 4,915 shares during the period. Finally, State of Wyoming increased its holdings in PennyMac Mortgage Investment Trust by 294.7% during the 4th quarter. State of Wyoming now owns 6,536 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 4,880 shares during the period. Hedge funds and other institutional investors own 66.89% of the company’s stock.

Insider Activity

In other news, Director Scott W. Carnahan sold 6,704 shares of the stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $13.23, for a total transaction of $88,693.92. Following the transaction, the director now directly owns 9,844 shares of the company’s stock, valued at approximately $130,236.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

PMT has been the topic of a number of research analyst reports. TheStreet downgraded PennyMac Mortgage Investment Trust from a “c-” rating to a “d+” rating in a report on Wednesday, May 17th. JMP Securities upped their target price on PennyMac Mortgage Investment Trust from $12.50 to $15.00 and gave the stock an “outperform” rating in a report on Friday, July 21st. Piper Sandler cut their price target on PennyMac Mortgage Investment Trust from $15.00 to $14.00 in a research note on Friday, July 28th. StockNews.com downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Finally, B. Riley cut their price target on PennyMac Mortgage Investment Trust from $16.00 to $15.00 in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and an average price target of $14.83.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT opened at $13.04 on Wednesday. The business’s fifty day simple moving average is $13.28 and its two-hundred day simple moving average is $12.62. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.40. PennyMac Mortgage Investment Trust has a 12 month low of $10.78 and a 12 month high of $15.77. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 21.73 and a beta of 1.45.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.60 annualized dividend and a yield of 12.27%. PennyMac Mortgage Investment Trust’s dividend payout ratio is 266.67%.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. It operates through four segments: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production, and Corporate. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.