Mackenzie Financial Corp Takes Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Mackenzie Financial Corp bought a new position in PennyMac Mortgage Investment Trust (NYSE:PMT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,303 shares of the real estate investment trust’s stock, valued at approximately $214,000.

Several other institutional investors have also added to or reduced their stakes in PMT. Charles Schwab Investment Management Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 6.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,299,582 shares of the real estate investment trust’s stock valued at $16,115,000 after acquiring an additional 78,311 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in PennyMac Mortgage Investment Trust by 2.3% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 180,378 shares of the real estate investment trust’s stock valued at $2,237,000 after buying an additional 4,041 shares during the last quarter. International Assets Investment Management LLC raised its stake in PennyMac Mortgage Investment Trust by 1,307.8% during the 4th quarter. International Assets Investment Management LLC now owns 325,910 shares of the real estate investment trust’s stock valued at $4,872,000 after buying an additional 302,760 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 23.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,507,911 shares of the real estate investment trust’s stock valued at $18,698,000 after buying an additional 284,200 shares during the period. Finally, Dark Forest Capital Management LP boosted its stake in shares of PennyMac Mortgage Investment Trust by 99.3% in the 3rd quarter. Dark Forest Capital Management LP now owns 43,941 shares of the real estate investment trust’s stock worth $545,000 after buying an additional 21,896 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE PMT opened at $14.02 on Tuesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.28. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The firm has a fifty day moving average price of $14.10 and a 200-day moving average price of $14.01. The stock has a market cap of $1.22 billion, a PE ratio of 9.34 and a beta of 1.48.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a $0.40 dividend. The ex-dividend date was Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 11.42%. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wedbush restated a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Monday. B. Riley upped their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. JMP Securities reiterated a “market outperform” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, January 10th. They set a “hold” rating and a $15.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.75.

Insider Transactions at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 7,810 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the sale, the director now owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

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.