Citigroup Inc. Acquires 123,079 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Citigroup Inc. raised its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 43.2% in the third quarter, Holdings Channel reports. The fund owned 407,660 shares of the real estate investment trust’s stock after acquiring an additional 123,079 shares during the period. Citigroup Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $5,813,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,456,613 shares of the real estate investment trust’s stock valued at $20,771,000 after purchasing an additional 18,368 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of PennyMac Mortgage Investment Trust by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 792,354 shares of the real estate investment trust’s stock valued at $10,895,000 after buying an additional 9,506 shares during the period. Van ECK Associates Corp boosted its holdings in shares of PennyMac Mortgage Investment Trust by 34.4% in the second quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock valued at $8,554,000 after buying an additional 159,131 shares during the period. Principal Financial Group Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 18.2% during the third quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock worth $7,221,000 after acquiring an additional 77,955 shares in the last quarter. Finally, Wolverine Asset Management LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 105.8% during the third quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust’s stock worth $6,578,000 after acquiring an additional 237,210 shares during the period. 67.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total transaction of $518,510.10. Following the transaction, the director now directly owns 49,114 shares in the company, valued at $688,087.14. The trade was a 42.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Price Performance

NYSE PMT opened at $13.59 on Monday. PennyMac Mortgage Investment Trust has a 12-month low of $12.81 and a 12-month high of $15.89. The firm’s 50 day moving average is $13.74 and its 200-day moving average is $13.83. The company has a market capitalization of $1.18 billion, a PE ratio of 9.99 and a beta of 1.51. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.56.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $80.86 million for the quarter, compared to the consensus estimate of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same period last year, the firm earned $0.51 earnings per share. Equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 11.77%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 117.65%.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.93.

About PennyMac Mortgage Investment Trust

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.