PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 253,099 shares of the real estate investment trust’s stock after selling 11,603 shares during the period. Rhumbline Advisers owned about 0.29% of PennyMac Mortgage Investment Trust worth $3,708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth approximately $25,000. Principal Securities Inc. grew its stake in PennyMac Mortgage Investment Trust by 2,042.9% in the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 2,288 shares during the period. New Age Alpha Advisors LLC purchased a new stake in PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $36,000. Allworth Financial LP purchased a new stake in PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $39,000. Finally, Sandy Spring Bank purchased a new stake in PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Down 2.5%

Shares of PMT opened at $12.56 on Friday. The firm has a market cap of $1.09 billion, a PE ratio of 9.44 and a beta of 1.27. The company’s fifty day moving average is $12.66 and its two-hundred day moving average is $13.25. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $14.98. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43.

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

Analyst Ratings Changes

Several analysts have commented on PMT shares. Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an “outperform” rating for the company in a research note on Thursday, April 24th. UBS Group lowered their target price on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company lowered their target price on shares of PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. Finally, Jones Trading reaffirmed a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.50.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Catherine A. Lynch bought 2,878 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Thursday, April 24th. The shares were acquired 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 of the company’s stock, valued at $598,436.10. The trade was a 6.21% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.92% of the company’s stock.

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.