11,921 Shares in PennyMac Mortgage Investment Trust (NYSE:PMT) Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC bought a new position in PennyMac Mortgage Investment Trust (NYSE:PMT) during the 4th quarter, Holdings Channel reports. The fund bought 11,921 shares of the real estate investment trust’s stock, valued at approximately $183,000.

Several other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings 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 worth $97,000 after acquiring an additional 1,115 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PennyMac Mortgage Investment Trust by 22.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,788 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 3,929 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in PennyMac Mortgage Investment Trust by 2.3% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 180,378 shares of the real estate investment trust’s stock worth $2,237,000 after acquiring an additional 4,041 shares during the period. Nisa Investment Advisors LLC raised its holdings in PennyMac Mortgage Investment Trust by 10.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 43,519 shares of the real estate investment trust’s stock worth $651,000 after acquiring an additional 4,239 shares during the period. Finally, Deutsche Bank AG raised its holdings in PennyMac Mortgage Investment Trust by 12.4% in the 3rd quarter. Deutsche Bank AG now owns 44,166 shares of the real estate investment trust’s stock worth $548,000 after acquiring an additional 4,878 shares during the period. Institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PMT shares. JMP Securities restated 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. B. Riley raised their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Wedbush restated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Monday, April 29th. Finally, Piper Sandler restated a “neutral” rating and issued a $15.00 price target (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and an average price target of $14.92.

Insider Activity

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $14.34, for a total value of $111,995.40. Following the transaction, the director now directly owns 53,311 shares in the company, valued at $764,479.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.89% of the stock is owned by company insiders.

PennyMac Mortgage Investment Trust Price Performance

Shares of PennyMac Mortgage Investment Trust stock opened at $14.72 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.34 and a current ratio of 0.34. The firm’s 50-day simple moving average is $14.20 and its 200-day simple moving average is $14.14. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. The firm has a market cap of $1.28 billion, a P/E ratio of 9.81 and a beta of 1.47.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 10.87%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 106.67%.

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.