Vanguard Group Inc. Acquires 30,334 Shares of PennyMac Mortgage Investment Trust $PMT

Vanguard Group Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 0.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,623,312 shares of the real estate investment trust’s stock after buying an additional 30,334 shares during the quarter. Vanguard Group Inc. owned 11.06% of PennyMac Mortgage Investment Trust worth $140,982,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Motiv8 Investments LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 13.1% during the first quarter. Motiv8 Investments LLC now owns 11,547 shares of the real estate investment trust’s stock valued at $169,000 after buying an additional 1,333 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 204.0% during the first quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 1,363 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 8.3% during the first quarter. QRG Capital Management Inc. now owns 25,673 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 1,974 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 17.1% during the fourth quarter. Guggenheim Capital LLC now owns 26,115 shares of the real estate investment trust’s stock valued at $329,000 after buying an additional 3,810 shares during the last quarter. Finally, 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. Institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Up 0.1%

Shares of NYSE PMT opened at $12.1750 on Thursday. The stock has a 50 day moving average price of $12.50 and a 200 day moving average price of $13.10. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.98 and a beta of 1.22. PennyMac Mortgage Investment Trust has a 52-week low of $11.70 and a 52-week high of $14.93.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.39). The company had revenue of $70.20 million for the quarter, compared to analysts’ expectations of $95.46 million. PennyMac Mortgage Investment Trust had a return on equity of 7.68% and a net margin of 34.65%. Sell-side analysts expect 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 announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, July 11th. This represents a $1.60 dividend on an annualized basis and a yield of 13.1%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 222.22%.

Analysts Set New Price Targets

A number of research firms have recently commented on PMT. Wells Fargo & Company cut their target price on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, May 2nd. Jones Trading reiterated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lowered PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $14.50 to $13.50 in a report on Friday, July 25th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.