PNC Financial Services Group Inc. Purchases 4,147 Shares of PennyMac Mortgage Investment Trust $PMT

PNC Financial Services Group Inc. raised its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 71.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,968 shares of the real estate investment trust’s stock after acquiring an additional 4,147 shares during the period. PNC Financial Services Group Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $146,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Renaissance Technologies LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at $2,139,000. Raymond James Financial Inc. purchased a new stake in PennyMac Mortgage Investment Trust during the fourth quarter valued at about $1,300,000. Barclays PLC grew its stake in shares of PennyMac Mortgage Investment Trust by 2.7% during the fourth quarter. Barclays PLC now owns 152,767 shares of the real estate investment trust’s stock valued at $1,924,000 after buying an additional 4,033 shares during the last quarter. Guggenheim Capital LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 17.1% in the fourth quarter. Guggenheim Capital LLC now owns 26,115 shares of the real estate investment trust’s stock worth $329,000 after buying an additional 3,810 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of PennyMac Mortgage Investment Trust by 5.5% in the 4th quarter. First Trust Advisors LP now owns 772,213 shares of the real estate investment trust’s stock valued at $9,722,000 after acquiring an additional 40,270 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Price Performance

Shares of PennyMac Mortgage Investment Trust stock opened at $12.00 on Tuesday. The business has a 50 day moving average of $12.52 and a 200 day moving average of $13.11. PennyMac Mortgage Investment Trust has a 52 week low of $11.70 and a 52 week high of $14.93. The company has a market cap of $1.04 billion, a PE ratio of 16.67, a P/E/G ratio of 1.82 and a beta of 1.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 3.82.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.39). PennyMac Mortgage Investment Trust had a net margin of 34.65% and a return on equity of 7.68%. The company had revenue of $70.20 million for the quarter, compared to analysts’ expectations of $95.46 million. As a group, equities research analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were issued a $0.40 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.60 annualized dividend and a yield of 13.3%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 222.22%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut shares of PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $14.50 to $13.50 in a report on Friday, July 25th. Jones Trading reissued a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 24th. Finally, Wells Fargo & Company cut their price target on shares of PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.00.

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.