Goldman Sachs Group Inc. Sells 539,795 Shares of PennyMac Mortgage Investment Trust $PMT

Goldman Sachs Group Inc. lessened its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 63.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 313,265 shares of the real estate investment trust’s stock after selling 539,795 shares during the period. Goldman Sachs Group Inc. owned approximately 0.36% of PennyMac Mortgage Investment Trust worth $4,589,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Voya Investment Management LLC increased its stake in PennyMac Mortgage Investment Trust by 71.7% in the first quarter. Voya Investment Management LLC now owns 155,481 shares of the real estate investment trust’s stock valued at $2,278,000 after purchasing an additional 64,912 shares in the last quarter. Strs Ohio bought a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter worth $240,000. Westbourne Investments Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 24.6% during the first quarter. Westbourne Investments Inc. now owns 49,480 shares of the real estate investment trust’s stock worth $725,000 after acquiring an additional 9,780 shares in the last quarter. Intech Investment Management LLC increased its position in shares of PennyMac Mortgage Investment Trust by 1.3% during the first quarter. Intech Investment Management LLC now owns 109,272 shares of the real estate investment trust’s stock worth $1,601,000 after acquiring an additional 1,411 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter worth $4,166,000. Institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT stock opened at $12.14 on Wednesday. The stock has a market cap of $1.06 billion, a P/E ratio of 16.86, a P/E/G ratio of 3.00 and a beta of 1.30. The company has a debt-to-equity ratio of 3.82, a current ratio of 0.80 and a quick ratio of 0.80. The company has a fifty day moving average price of $12.32 and a two-hundred day moving average price of $12.88. PennyMac Mortgage Investment Trust has a one year low of $11.70 and a one year high of $14.93.

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

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date was Friday, July 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 222.22%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PMT shares. Keefe, Bruyette & Woods downgraded shares of PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $14.50 to $13.50 in a research report on Friday, July 25th. Wells Fargo & Company started coverage on shares of PennyMac Mortgage Investment Trust in a research report on Monday, August 25th. They set an “equal weight” rating and a $13.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.00.

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.