Caxton Associates LP Invests $232,000 in PennyMac Mortgage Investment Trust (NYSE:PMT)

Caxton Associates LP bought a new position in PennyMac Mortgage Investment Trust (NYSE:PMT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,863 shares of the real estate investment trust’s stock, valued at approximately $232,000.

Several other institutional investors have also made changes to their positions in PMT. Janney Montgomery Scott LLC increased its position in shares of PennyMac Mortgage Investment Trust by 180.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 48,047 shares of the real estate investment trust’s stock worth $718,000 after acquiring an additional 30,914 shares in the last quarter. Norges Bank purchased a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $9,781,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $916,000. B. Riley Wealth Advisors Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 10.4% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 199,073 shares of the real estate investment trust’s stock worth $3,056,000 after acquiring an additional 18,695 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $234,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Price Performance

NYSE PMT opened at $14.28 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $1.24 billion, a PE ratio of 9.52 and a beta of 1.51. The company has a 50 day moving average price of $13.87 and a two-hundred day moving average price of $14.02. PennyMac Mortgage Investment Trust has a 12-month low of $10.52 and a 12-month high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.17). The business had revenue of $71.20 million during the quarter, compared to analyst estimates of $90.26 million. PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. During the same quarter last year, the firm earned $0.16 earnings per share. As a group, equities analysts predict that PennyMac Mortgage Investment Trust will post 1.27 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.20%. The ex-dividend date of this dividend is Friday, October 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 106.67%.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the sale, the director now directly owns 49,114 shares in the company, valued at $688,087.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders bought 2,879 shares of company stock worth $39,028. 0.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PMT shares. JMP Securities lifted their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods lowered their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Piper Sandler lowered their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Wedbush reaffirmed a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, July 25th. Finally, B. Riley reaffirmed a “buy” rating and set a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.93.

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.