Victory Capital Management Inc. Has $235,000 Stock Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

Victory Capital Management Inc. trimmed its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 16.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,463 shares of the real estate investment trust’s stock after selling 3,332 shares during the quarter. Victory Capital Management Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $235,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Aigen Investment Management LP acquired a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter valued at about $152,000. Wolverine Asset Management LLC raised its position 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 last quarter. State of New Jersey Common Pension Fund D raised its position in shares of PennyMac Mortgage Investment Trust by 3.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 141,280 shares of the real estate investment trust’s stock worth $2,015,000 after acquiring an additional 4,753 shares during the last quarter. Principal Financial Group Inc. raised 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 during the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of PennyMac Mortgage Investment Trust by 5.0% during the third quarter. QRG Capital Management Inc. now owns 23,036 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 1,093 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Trading Up 0.2 %

Shares of PMT stock opened at $13.59 on Friday. The company has a market cap of $1.18 billion, a P/E ratio of 9.99 and a beta of 1.51. The stock has a 50 day simple moving average of $13.74 and a two-hundred day simple moving average of $13.84. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41. PennyMac Mortgage Investment Trust has a fifty-two week low of $12.81 and a fifty-two week high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $80.86 million during 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 quarter in the previous year, the firm posted $0.51 earnings per share. Research analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.77%. The ex-dividend date of this dividend was Friday, October 11th. PennyMac Mortgage Investment Trust’s payout ratio is 117.65%.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at $688,087.14. This represents a 42.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Wedbush restated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.