The Manufacturers Life Insurance Company Sells 1,298 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

The Manufacturers Life Insurance Company lessened its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 42,422 shares of the real estate investment trust’s stock after selling 1,298 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in PennyMac Mortgage Investment Trust were worth $605,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PMT. International Assets Investment Management LLC increased its position in PennyMac Mortgage Investment Trust by 1,607.2% during the 3rd quarter. International Assets Investment Management LLC now owns 367,908 shares of the real estate investment trust’s stock worth $5,246,000 after buying an additional 346,358 shares during the period. Wolverine Asset Management LLC increased its position in PennyMac Mortgage Investment Trust by 105.8% during the third quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust’s stock worth $6,578,000 after acquiring an additional 237,210 shares during the period. Millennium Management LLC raised its stake in PennyMac Mortgage Investment Trust by 223.1% in the 2nd quarter. Millennium Management LLC now owns 232,576 shares of the real estate investment trust’s stock worth $3,198,000 after purchasing an additional 160,595 shares in the last quarter. Van ECK Associates Corp grew its position in shares of PennyMac Mortgage Investment Trust by 34.4% during the 2nd quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock worth $8,554,000 after purchasing an additional 159,131 shares in the last quarter. Finally, Dana Investment Advisors Inc. raised its position in shares of PennyMac Mortgage Investment Trust by 40.7% in the second quarter. Dana Investment Advisors Inc. now owns 427,941 shares of the real estate investment trust’s stock valued at $5,884,000 after buying an additional 123,890 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush restated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust presently has an average rating of “Moderate Buy” and an average price target of $15.17.

PennyMac Mortgage Investment Trust Stock Up 0.9 %

NYSE PMT opened at $13.55 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41. PennyMac Mortgage Investment Trust has a fifty-two week low of $12.81 and a fifty-two week high of $15.89. The stock has a market capitalization of $1.18 billion, a PE ratio of 9.96 and a beta of 1.50. The business has a fifty day moving average price of $13.60 and a two-hundred day moving average price of $13.80.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $80.86 million for the quarter, compared to analyst estimates of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same period in the previous year, the firm posted $0.51 EPS. Equities analysts expect that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, December 27th. This represents a $1.60 annualized dividend and a dividend yield of 11.81%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 117.65%.

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.