Schwab Charles Investment Management Inc. Buys 9,986 Shares of PennyMac Mortgage Investment Trust (PMT)

Schwab Charles Investment Management Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 505,493 shares of the real estate investment trust’s stock after acquiring an additional 9,986 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.77% of PennyMac Mortgage Investment Trust worth $8,791,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PMT. Public Employees Retirement System of Ohio lifted its holdings in shares of PennyMac Mortgage Investment Trust by 4.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,207 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 304 shares during the period. M&T Bank Corp lifted its holdings in shares of PennyMac Mortgage Investment Trust by 4.8% in the 2nd quarter. M&T Bank Corp now owns 10,900 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 500 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 2.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,153 shares of the real estate investment trust’s stock valued at $387,000 after buying an additional 533 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 6.0% in the 2nd quarter. Principal Financial Group Inc. now owns 14,489 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 817 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of PennyMac Mortgage Investment Trust by 16.9% in the 2nd quarter. Royal Bank of Canada now owns 15,560 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 2,254 shares during the period. 62.95% of the stock is owned by institutional investors.

PennyMac Mortgage Investment Trust (NYSE:PMT) opened at $16.07 on Tuesday. The stock has a market capitalization of $1,053.68, a price-to-earnings ratio of 11.32 and a beta of 0.52. PennyMac Mortgage Investment Trust has a 1-year low of $14.87 and a 1-year high of $18.46. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.18). The firm had revenue of $75.80 million for the quarter, compared to analyst estimates of $81.72 million. PennyMac Mortgage Investment Trust had a return on equity of 7.59% and a net margin of 36.07%. The business’s revenue for the quarter was down 26.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 earnings per share. analysts predict that PennyMac Mortgage Investment Trust will post 1.32 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, December 29th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.88 annualized dividend and a yield of 11.70%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 132.39%.

PennyMac Mortgage Investment Trust declared that its board has authorized a stock repurchase program on Wednesday, December 20th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Several analysts have recently commented on the company. Zacks Investment Research raised PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Keefe, Bruyette & Woods cut PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $19.00 to $18.00 in a report on Tuesday, October 10th. Finally, ValuEngine raised PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $18.50.

In related news, insider David Spector sold 18,750 shares of PennyMac Mortgage Investment Trust stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $17.39, for a total transaction of $326,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 56,250 shares of company stock valued at $973,313. 2.08% of the stock is currently owned by insiders.

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PennyMac Mortgage Investment Trust Profile

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.

Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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