PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 22.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,788 shares of the real estate investment trust’s stock after acquiring an additional 3,929 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PennyMac Mortgage Investment Trust were worth $326,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in PennyMac Mortgage Investment Trust by 16.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 1,115 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter worth $157,000. Axxcess Wealth Management LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the third quarter valued at about $210,000. Mackenzie Financial Corp acquired a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at about $214,000. Finally, Inspire Investing LLC purchased a new position in shares of PennyMac Mortgage Investment Trust in the third quarter worth about $306,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on PMT. B. Riley upped their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the company a “buy” rating in a research note 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 price target for the company. Wedbush reissued a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29th. Finally, JMP Securities restated a “market outperform” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $14.75.

PennyMac Mortgage Investment Trust Stock Up 1.4 %

PMT stock opened at $14.70 on Friday. PennyMac Mortgage Investment Trust has a one year low of $10.52 and a one year high of $15.89. The firm has a market cap of $1.28 billion, a PE ratio of 9.80 and a beta of 1.47. The firm’s 50 day moving average price is $14.14 and its 200-day moving average price is $14.07. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.28 and a current ratio of 0.34.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 10.88%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 106.67%.

Insider Activity

In related news, Director Doug Jones sold 7,810 shares of the firm’s 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

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.