PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. decreased its stake in PennyMac Mortgage Investment Trust (NYSE:PMT) by 12.4% in the 3rd quarter, Holdings Channel reports. The firm owned 12,660 shares of the real estate investment trust’s stock after selling 1,790 shares during the quarter. Everence Capital Management Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $181,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC raised its position in PennyMac Mortgage Investment Trust by 13.0% during the third quarter. Exchange Traded Concepts LLC now owns 70,100 shares of the real estate investment trust’s stock worth $1,000,000 after acquiring an additional 8,044 shares during the last quarter. Inspire Investing LLC raised its position in PennyMac Mortgage Investment Trust by 12.4% during the third quarter. Inspire Investing LLC now owns 28,724 shares of the real estate investment trust’s stock worth $410,000 after acquiring an additional 3,160 shares during the last quarter. Handelsbanken Fonder AB raised its position in PennyMac Mortgage Investment Trust by 26.1% during the third quarter. Handelsbanken Fonder AB now owns 32,811 shares of the real estate investment trust’s stock worth $468,000 after acquiring an additional 6,800 shares during the last quarter. SG Americas Securities LLC acquired a new position in PennyMac Mortgage Investment Trust during the third quarter worth about $599,000. Finally, Dana Investment Advisors Inc. raised its position in PennyMac Mortgage Investment Trust by 40.7% during the second quarter. Dana Investment Advisors Inc. now owns 427,941 shares of the real estate investment trust’s stock worth $5,884,000 after acquiring an additional 123,890 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $13.67 on Wednesday. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The firm has a 50 day moving average price of $14.04 and a 200 day moving average price of $13.98. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 9.05 and a beta of 1.51. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.33 and a current ratio of 0.33.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.17). PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. The company had revenue of $71.20 million during the quarter, compared to analysts’ expectations of $90.26 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Sell-side analysts predict that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 11.70%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 105.96%.

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total transaction of $518,510.10. Following the completion of the sale, the director now directly owns 49,114 shares in the company, valued at $688,087.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 2,879 shares of company stock worth $39,028 over the last ninety days. 0.89% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on PMT shares. Piper Sandler cut their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. B. Riley reiterated a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. JMP Securities lifted their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Wedbush reiterated a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.93.

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.