PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Bought by LPL Financial LLC

LPL Financial LLC boosted its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 178,208 shares of the real estate investment trust’s stock after buying an additional 2,182 shares during the quarter. LPL Financial LLC owned approximately 0.20% of PennyMac Mortgage Investment Trust worth $2,402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC acquired a new stake in PennyMac Mortgage Investment Trust during the first quarter valued at $798,000. EMG Holdings L.P. grew its position in shares of PennyMac Mortgage Investment Trust by 33.7% in the first quarter. EMG Holdings L.P. now owns 92,273 shares of the real estate investment trust’s stock valued at $1,138,000 after purchasing an additional 23,269 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of PennyMac Mortgage Investment Trust by 30.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,771 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 3,481 shares during the period. Moors & Cabot Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 45.5% in the first quarter. Moors & Cabot Inc. now owns 16,000 shares of the real estate investment trust’s stock valued at $197,000 after purchasing an additional 5,000 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of PennyMac Mortgage Investment Trust by 5.6% in the first quarter. Van ECK Associates Corp now owns 376,883 shares of the real estate investment trust’s stock valued at $4,647,000 after purchasing an additional 19,920 shares during the period. Institutional investors and hedge funds own 66.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PMT shares. B. Riley lowered their price target on shares of PennyMac Mortgage Investment Trust from $16.00 to $15.00 in a research report on Tuesday, August 8th. JMP Securities boosted their price target on shares of PennyMac Mortgage Investment Trust from $12.50 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, July 21st. Wedbush boosted their price target on shares of PennyMac Mortgage Investment Trust from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. StockNews.com upgraded shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Piper Sandler reduced their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.00 in a research note on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.67.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $13.41 on Friday. The company’s 50 day simple moving average is $12.37 and its 200-day simple moving average is $12.60. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 12.19 and a beta of 1.47. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.77. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.31 and a current ratio of 0.31.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 13th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.93%. The ex-dividend date was Thursday, October 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 145.46%.

PennyMac Mortgage Investment Trust Company 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.