Geode Capital Management LLC Purchases 28,689 Shares of PennyMac Mortgage Investment Trust $PMT

Geode Capital Management LLC increased its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,096,625 shares of the real estate investment trust’s stock after acquiring an additional 28,689 shares during the period. Geode Capital Management LLC owned about 2.41% of PennyMac Mortgage Investment Trust worth $26,966,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Boston Partners grew its holdings in shares of PennyMac Mortgage Investment Trust by 20.9% during the second quarter. Boston Partners now owns 1,249,758 shares of the real estate investment trust’s stock worth $15,873,000 after purchasing an additional 216,056 shares during the last quarter. Samalin Investment Counsel LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 74.8% in the second quarter. Samalin Investment Counsel LLC now owns 29,158 shares of the real estate investment trust’s stock valued at $375,000 after buying an additional 12,480 shares during the last quarter. Allworth Financial LP lifted its position in PennyMac Mortgage Investment Trust by 1,741.7% during the 2nd quarter. Allworth Financial LP now owns 2,118 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 2,003 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in PennyMac Mortgage Investment Trust during the 2nd quarter worth about $482,000. Finally, Bank of New York Mellon Corp increased its position in PennyMac Mortgage Investment Trust by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 709,370 shares of the real estate investment trust’s stock valued at $9,122,000 after acquiring an additional 28,206 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

Insider Activity

In other news, Director Catherine A. Lynch acquired 2,823 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Monday, September 22nd. The shares were acquired at an average price of $12.02 per share, with a total value of $33,932.46. Following the purchase, the director directly owned 54,711 shares of the company’s stock, valued at $657,626.22. The trade was a 5.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Spector purchased 10,000 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, November 17th. The shares were purchased at an average cost of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the transaction, the chief executive officer owned 357,794 shares of the company’s stock, valued at approximately $4,436,645.60. This represents a 2.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 14,293 shares of company stock valued at $176,557 over the last 90 days. Corporate insiders own 0.92% of the company’s stock.

Analysts Set New Price Targets

PMT has been the topic of a number of research reports. UBS Group upped their target price on shares of PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Wells Fargo & Company initiated coverage on PennyMac Mortgage Investment Trust in a report on Monday, August 25th. They set an “equal weight” rating and a $13.00 price objective on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Monday. Finally, Zacks Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.88.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT stock opened at $12.84 on Friday. The firm’s 50 day moving average price is $12.30 and its two-hundred day moving average price is $12.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.80 and a current ratio of 0.57. PennyMac Mortgage Investment Trust has a 52-week low of $11.60 and a 52-week high of $14.93. The stock has a market cap of $1.12 billion, a PE ratio of 14.11, a PEG ratio of 2.73 and a beta of 1.29.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 EPS for the quarter, beating the consensus estimate of $0.36 by $0.19. PennyMac Mortgage Investment Trust had a net margin of 37.92% and a return on equity of 9.01%. The company had revenue of $99.23 million during the quarter, compared to analysts’ expectations of $97.91 million. As a group, analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 10th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, October 10th. This represents a $1.60 dividend on an annualized basis and a yield of 12.5%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 175.82%.

PennyMac Mortgage Investment Trust 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.