PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. reduced its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 209,634 shares of the real estate investment trust’s stock after selling 11,190 shares during the quarter. Centaurus Financial Inc. owned 0.24% of PennyMac Mortgage Investment Trust worth $2,585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PMT. Envestnet Asset Management Inc. acquired a new position in PennyMac Mortgage Investment Trust during the first quarter worth about $213,000. MAS Advisors LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 158.9% in the first quarter. MAS Advisors LLC now owns 53,037 shares of the real estate investment trust’s stock valued at $895,000 after purchasing an additional 32,549 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 94.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 29,657 shares of the real estate investment trust’s stock valued at $501,000 after purchasing an additional 14,379 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of PennyMac Mortgage Investment Trust by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 1,113,026 shares of the real estate investment trust’s stock valued at $18,800,000 after purchasing an additional 30,302 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 3.6% in the first quarter. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust’s stock valued at $548,000 after purchasing an additional 1,137 shares in the last quarter. 66.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Scott W. Carnahan sold 6,704 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $13.23, for a total transaction of $88,693.92. Following the completion of the transaction, the director now owns 9,844 shares of the company’s stock, valued at $130,236.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PMT shares. StockNews.com downgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Friday, September 1st. JMP Securities upped their price target on shares of PennyMac Mortgage Investment Trust from $12.50 to $15.00 and gave the company an “outperform” rating in a report on Friday, July 21st. Piper Sandler reduced their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.00 in a report on Friday, July 28th. TheStreet downgraded shares of PennyMac Mortgage Investment Trust from a “c-” rating to a “d+” rating in a research note on Wednesday, May 17th. Finally, B. Riley reduced their price objective on shares of 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 given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.83.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT stock opened at $12.78 on Thursday. PennyMac Mortgage Investment Trust has a one year low of $10.78 and a one year high of $15.77. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.33 and a current ratio of 0.33. The company has a 50 day moving average price of $13.21 and a 200 day moving average price of $12.60. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 21.30 and a beta of 1.45.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 12.52%. The ex-dividend date of this dividend is Thursday, October 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 266.67%.

PennyMac Mortgage Investment Trust Profile

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.