Raymond James Financial Services Advisors Inc. Buys 11,501 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Raymond James Financial Services Advisors Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 45.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 37,021 shares of the real estate investment trust’s stock after acquiring an additional 11,501 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $553,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in PennyMac Mortgage Investment Trust by 0.8% during 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 period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of 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 valued at $58,088,000 after purchasing an additional 227,513 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 valued at $63,746,000 after purchasing an additional 460,177 shares in the last quarter. State Street Corp boosted its holdings in shares of PennyMac Mortgage Investment Trust by 3.5% in 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 in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 8.0% in 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 purchasing an additional 178,783 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PMT shares. B. Riley raised their target price on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They issued a “hold” rating and a $15.00 target price on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.58.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the transaction, the director now directly owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is currently owned by company insiders.

PennyMac Mortgage Investment Trust Trading Up 0.3 %

NYSE PMT opened at $13.28 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.37. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 8.25 and a beta of 1.48. The business’s fifty day moving average is $14.06 and its 200 day moving average is $13.89.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 12.05%. The ex-dividend date is Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 99.38%.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.