Vanguard Group Inc. Reduces Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

Vanguard Group Inc. lowered its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 0.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,884,272 shares of the real estate investment trust’s stock after selling 81,908 shares during the period. Vanguard Group Inc. owned 0.11% of PennyMac Mortgage Investment Trust worth $147,770,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI grew its position in shares of PennyMac Mortgage Investment Trust by 94.9% in the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,603 shares in the last quarter. Essex Financial Services Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth $150,000. Kestra Private Wealth Services LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth $183,000. Atria Wealth Solutions Inc. purchased a new position in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth $204,000. Finally, Axxcess Wealth Management LLC acquired a new position in shares of PennyMac Mortgage Investment Trust during the 3rd quarter valued at about $210,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wedbush restated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Monday, April 29th. JMP Securities restated a “market outperform” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $15.00 price objective (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.92.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $13.75 on Friday. The company’s 50 day simple moving average is $14.03 and its 200-day simple moving average is $14.24. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.34 and a current ratio of 0.34. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 9.17 and a beta of 1.51.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.64%. The ex-dividend date of this dividend is Friday, July 12th. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

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.