American International Group Inc. Sells 1,140 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

American International Group Inc. decreased its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 2.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,428 shares of the real estate investment trust’s stock after selling 1,140 shares during the quarter. American International Group Inc. owned 0.05% of PennyMac Mortgage Investment Trust worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in PennyMac Mortgage Investment Trust by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,801,513 shares of the real estate investment trust’s stock worth $182,438,000 after acquiring an additional 85,349 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in PennyMac Mortgage Investment Trust by 5.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,688,236 shares of the real estate investment trust’s stock worth $58,088,000 after acquiring an additional 227,513 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in PennyMac Mortgage Investment Trust by 11.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,609,260 shares of the real estate investment trust’s stock worth $63,746,000 after acquiring an additional 460,177 shares during the last quarter. State Street Corp increased its position in shares of PennyMac Mortgage Investment Trust by 3.5% during the 1st quarter. State Street Corp now owns 3,544,419 shares of the real estate investment trust’s stock valued at $59,865,000 after purchasing an additional 121,072 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in PennyMac Mortgage Investment Trust by 8.0% during the 1st quarter. Invesco Ltd. now owns 2,409,271 shares of the real estate investment trust’s stock valued at $40,693,000 after acquiring an additional 178,783 shares during the period. Institutional investors own 66.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PennyMac Mortgage Investment Trust Trading Down 1.0 %

PMT opened at $13.83 on Friday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 12.57 and a beta of 1.47. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 1.35. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.58. The stock has a fifty day moving average price of $12.43 and a 200-day moving average price of $12.67.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 13th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.57%. The ex-dividend date of this dividend was Thursday, October 12th. PennyMac Mortgage Investment Trust’s payout ratio 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.