Raymond James Financial Inc. Takes $1.30 Million Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Raymond James Financial Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 103,277 shares of the real estate investment trust’s stock, valued at approximately $1,300,000. Raymond James Financial Inc. owned about 0.12% of PennyMac Mortgage Investment Trust at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PMT. Norges Bank acquired a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at about $5,212,000. Principal Financial Group Inc. grew its position in PennyMac Mortgage Investment Trust by 5.8% during the 4th quarter. Principal Financial Group Inc. now owns 535,899 shares of the real estate investment trust’s stock worth $6,747,000 after acquiring an additional 29,550 shares during the last quarter. Simplify Asset Management Inc. raised its position in PennyMac Mortgage Investment Trust by 476.0% in the 4th quarter. Simplify Asset Management Inc. now owns 57,600 shares of the real estate investment trust’s stock valued at $725,000 after purchasing an additional 47,600 shares during the last quarter. Dana Investment Advisors Inc. boosted its stake in PennyMac Mortgage Investment Trust by 5.1% in the fourth quarter. Dana Investment Advisors Inc. now owns 496,570 shares of the real estate investment trust’s stock worth $6,252,000 after purchasing an additional 23,948 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 41.0% during the fourth quarter. Prudential Financial Inc. now owns 230,603 shares of the real estate investment trust’s stock worth $2,903,000 after purchasing an additional 67,000 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Catherine A. Lynch purchased 2,878 shares of the stock in a transaction on Thursday, April 24th. The stock was purchased at an average price of $12.15 per share, for a total transaction of $34,967.70. Following the acquisition, the director now owns 49,254 shares in the company, valued at $598,436.10. This trade represents a 6.21 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Doug Jones sold 14,530 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total transaction of $210,685.00. Following the completion of the sale, the director now directly owns 64,082 shares in the company, valued at approximately $929,189. This represents a 18.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday. JMP Securities reissued a “market outperform” rating and set a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Jones Trading reiterated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lowered their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Finally, UBS Group reduced their price target on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.50.

PennyMac Mortgage Investment Trust Trading Up 0.9 %

Shares of PennyMac Mortgage Investment Trust stock opened at $12.93 on Friday. PennyMac Mortgage Investment Trust has a 52-week low of $11.77 and a 52-week high of $15.22. The stock has a market cap of $1.13 billion, a PE ratio of 9.72 and a beta of 1.32. The firm has a 50-day moving average of $13.76 and a 200-day moving average of $13.43. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.39). PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. The company had revenue of $44.47 million during the quarter, compared to the consensus estimate of $94.36 million. During the same quarter last year, the firm posted $0.39 earnings per share. As a group, sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 12.37%. The ex-dividend date of this dividend was Friday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 172.04%.

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.