Advisors Asset Management Inc. Cuts Position in PennyMac Mortgage Investment Trust (PMT)

Advisors Asset Management Inc. trimmed its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 32.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 606,272 shares of the real estate investment trust’s stock after selling 295,424 shares during the period. Advisors Asset Management Inc. owned 0.99% of PennyMac Mortgage Investment Trust worth $11,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Global X Management Co LLC increased its position in shares of PennyMac Mortgage Investment Trust by 0.3% in the 2nd quarter. Global X Management Co LLC now owns 1,021,366 shares of the real estate investment trust’s stock valued at $19,396,000 after acquiring an additional 2,794 shares during the period. Centaurus Financial Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at $220,000. Bank of America Corp DE increased its position in shares of PennyMac Mortgage Investment Trust by 16.5% in the 2nd quarter. Bank of America Corp DE now owns 222,812 shares of the real estate investment trust’s stock valued at $4,231,000 after acquiring an additional 31,546 shares during the period. Raymond James & Associates increased its position in shares of PennyMac Mortgage Investment Trust by 42.2% in the 2nd quarter. Raymond James & Associates now owns 14,925 shares of the real estate investment trust’s stock valued at $283,000 after acquiring an additional 4,431 shares during the period. Finally, Citadel Advisors LLC increased its position in shares of PennyMac Mortgage Investment Trust by 363.5% in the 2nd quarter. Citadel Advisors LLC now owns 294,775 shares of the real estate investment trust’s stock valued at $5,598,000 after acquiring an additional 231,175 shares during the period. 67.34% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Marianne Sullivan purchased 3,015 shares of the business’s stock in a transaction on Friday, August 31st. The shares were bought at an average cost of $19.95 per share, with a total value of $60,149.25. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David Spector sold 7,000 shares of the stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $19.15, for a total value of $134,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,790 shares of company stock worth $475,650 over the last ninety days. 2.46% of the stock is owned by insiders.

Shares of PMT opened at $19.09 on Friday. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 2.67 and a beta of 0.38. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.60 and a current ratio of 0.60. PennyMac Mortgage Investment Trust has a fifty-two week low of $14.87 and a fifty-two week high of $20.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.10. The company had revenue of $82.99 million for the quarter, compared to the consensus estimate of $70.85 million. PennyMac Mortgage Investment Trust had a return on equity of 8.37% and a net margin of 36.14%. During the same period last year, the firm earned $0.38 EPS. On average, analysts expect that PennyMac Mortgage Investment Trust will post 1.51 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Monday, October 15th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 9.85%. The ex-dividend date of this dividend is Friday, October 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 144.62%.

Several research firms recently issued reports on PMT. ValuEngine raised PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Barclays upped their target price on PennyMac Mortgage Investment Trust from $15.00 to $18.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 25th. Credit Suisse Group upped their target price on PennyMac Mortgage Investment Trust from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 25th. Finally, Wells Fargo & Co began coverage on PennyMac Mortgage Investment Trust in a research report on Tuesday, September 18th. They issued a “market perform” rating and a $20.00 target price on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.25.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

Featured Article: Average Daily Trade Volume – ADTV

Want to see what other hedge funds are holding PMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennyMac Mortgage Investment Trust (NYSE:PMT).

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

Receive News & Ratings for PennyMac Mortgage Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Mortgage Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply