PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 275,704 shares of the real estate investment trust’s stock after selling 2,275 shares during the quarter. Rhumbline Advisers’ holdings in PennyMac Mortgage Investment Trust were worth $3,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PMT. Louisiana State Employees Retirement System grew its holdings in PennyMac Mortgage Investment Trust by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust’s stock valued at $601,000 after buying an additional 800 shares during the period. Texas Permanent School Fund Corp lifted its position in PennyMac Mortgage Investment Trust by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 75,812 shares of the real estate investment trust’s stock worth $1,113,000 after acquiring an additional 1,179 shares in the last quarter. ProShare Advisors LLC lifted its position in PennyMac Mortgage Investment Trust by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust’s stock worth $257,000 after acquiring an additional 1,207 shares in the last quarter. National Bank of Canada FI raised its position in shares of PennyMac Mortgage Investment Trust by 94.9% in the 4th 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. Finally, Roble Belko & Company Inc acquired a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 37,010 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the transaction, the director now owns 49,114 shares of the company’s stock, valued at $688,087.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders acquired 2,879 shares of company stock valued at $39,028. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT opened at $14.20 on Tuesday. The company has a market cap of $1.23 billion, a P/E ratio of 9.47 and a beta of 1.51. The stock has a fifty day moving average price of $13.91 and a 200 day moving average price of $14.01. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.33 and a quick ratio of 0.33. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.17). PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. The business had revenue of $71.20 million during the quarter, compared to the consensus estimate of $90.26 million. During the same period in the previous year, the company posted $0.16 EPS. On average, research analysts forecast that PennyMac Mortgage Investment Trust will post 1.27 earnings per share for the current year.

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.