Sei Investments Co. lowered its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT – Free Report) by 4.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,241 shares of the real estate investment trust’s stock after selling 1,043 shares during the quarter. Sei Investments Co.’s holdings in PennyMac Mortgage Investment Trust were worth $333,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Roble Belko & Company Inc acquired a new stake in PennyMac Mortgage Investment Trust in the 1st quarter worth about $29,000. EntryPoint Capital LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 251.8% in the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 5,015 shares during the period. Entropy Technologies LP acquired a new stake in PennyMac Mortgage Investment Trust during the first quarter worth approximately $149,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in PennyMac Mortgage Investment Trust during the first quarter worth approximately $157,000. Finally, Allspring Global Investments Holdings LLC bought a new position in PennyMac Mortgage Investment Trust during the 2nd quarter worth $177,000. Institutional investors own 67.38% of the company’s stock.
PennyMac Mortgage Investment Trust Price Performance
PMT stock opened at $14.26 on Friday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 9.51 and a beta of 1.51. 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 50 day simple moving average of $13.93 and a 200 day simple moving average of $14.01. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89.
PennyMac Mortgage Investment Trust Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 11.22%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 106.67%.
Analyst Ratings Changes
Several analysts have recently issued reports on PMT shares. B. Riley reissued a “buy” rating and set a $16.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. Keefe, Bruyette & Woods decreased their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Piper Sandler cut their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a report on Wednesday, July 24th. 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. Finally, Wedbush restated 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. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.93.
Check Out Our Latest Stock Report on PennyMac Mortgage Investment Trust
Insider Activity
In other news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the transaction, the director now owns 49,114 shares of the company’s stock, valued at $688,087.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have bought 2,879 shares of company stock valued at $39,028. 0.89% of the stock is currently owned by corporate insiders.
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.
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