Mercer Global Advisors Inc. ADV Invests $262,000 in PennyMac Mortgage Investment Trust (NYSE:PMT)

Mercer Global Advisors Inc. ADV purchased a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 19,046 shares of the real estate investment trust’s stock, valued at approximately $262,000.

Several other large investors also recently modified their holdings of the stock. Wolverine Asset Management LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 781.5% during the 2nd quarter. Wolverine Asset Management LLC now owns 224,113 shares of the real estate investment trust’s stock worth $3,082,000 after purchasing an additional 198,688 shares during the last quarter. Van ECK Associates Corp grew its stake in PennyMac Mortgage Investment Trust by 34.4% in the 2nd quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock valued at $8,554,000 after buying an additional 159,131 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in PennyMac Mortgage Investment Trust by 56.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 63,423 shares of the real estate investment trust’s stock valued at $872,000 after buying an additional 22,988 shares in the last quarter. TrueMark Investments LLC purchased a new position in PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $498,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $177,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Down 0.1 %

Shares of NYSE:PMT opened at $14.27 on Tuesday. PennyMac Mortgage Investment Trust has a one year low of $10.52 and a one year high of $15.89. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 9.51 and a beta of 1.51. The firm has a fifty day moving average price of $13.86 and a two-hundred day moving average price of $14.01.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data 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). PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. The company had revenue of $71.20 million for the quarter, compared to the consensus estimate of $90.26 million. During the same period in the prior year, the firm posted $0.16 earnings per share. Analysts anticipate that PennyMac Mortgage Investment Trust will post 1.27 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.22%. The ex-dividend date is Friday, October 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 106.67%.

Analysts Set New Price Targets

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

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 37,010 shares of PennyMac Mortgage Investment Trust stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total transaction of $518,510.10. Following the completion of the sale, the director now directly owns 49,114 shares of the company’s stock, valued at approximately $688,087.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders purchased 2,879 shares of company stock valued at $39,028. 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.