Millennium Management LLC Grows Stock Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

Millennium Management LLC lifted its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 99.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,974 shares of the real estate investment trust’s stock after purchasing an additional 76,751 shares during the period. Millennium Management LLC owned 0.18% of PennyMac Mortgage Investment Trust worth $1,939,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PMT. Invesco Ltd. boosted its stake in PennyMac Mortgage Investment Trust by 167.5% during the fourth quarter. Invesco Ltd. now owns 2,173,869 shares of the real estate investment trust’s stock worth $27,369,000 after buying an additional 1,361,282 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PennyMac Mortgage Investment Trust by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,520,394 shares of the real estate investment trust’s stock worth $19,142,000 after acquiring an additional 63,781 shares during the period. Northern Trust Corp boosted its position in shares of PennyMac Mortgage Investment Trust by 28.6% during the 4th quarter. Northern Trust Corp now owns 1,145,336 shares of the real estate investment trust’s stock valued at $14,420,000 after acquiring an additional 254,581 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PennyMac Mortgage Investment Trust by 9.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 777,712 shares of the real estate investment trust’s stock valued at $9,791,000 after purchasing an additional 66,371 shares during the period. Finally, First Trust Advisors LP increased its position in PennyMac Mortgage Investment Trust by 5.5% during the fourth quarter. First Trust Advisors LP now owns 772,213 shares of the real estate investment trust’s stock worth $9,722,000 after purchasing an additional 40,270 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 14,530 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the sale, the director now owns 64,082 shares of the company’s stock, valued at $929,189. This trade represents a 18.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Catherine A. Lynch purchased 2,878 shares of the stock in a transaction on Thursday, April 24th. The shares were purchased at an average price of $12.15 per share, with a total value of $34,967.70. Following the acquisition, the director now directly owns 49,254 shares in the company, valued at $598,436.10. This represents a 6.21% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Jones Trading reiterated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 24th. UBS Group lowered 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. Keefe, Bruyette & Woods cut their price objective on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their target price on shares of PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, May 2nd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.50.

PennyMac Mortgage Investment Trust Price Performance

PMT stock opened at $12.12 on Tuesday. The business’s fifty day moving average price is $12.95 and its 200 day moving average price is $13.30. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $14.98. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.05 billion, a PE ratio of 9.11 and a beta of 1.32.

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). The business had revenue of $44.47 million for the quarter, compared to analyst estimates of $94.36 million. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. During the same period in the prior year, the company posted $0.39 EPS. On average, sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 13.20%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 172.04%.

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.