PennyMac Mortgage Investment Trust (NYSE:PMT) Stake Increased by Simplify Asset Management Inc.

Simplify Asset Management Inc. grew its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 476.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 57,600 shares of the real estate investment trust’s stock after purchasing an additional 47,600 shares during the quarter. Simplify Asset Management Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $725,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at about $217,000. Virtu Financial LLC acquired a new position in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $419,000. Sandy Spring Bank bought a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at approximately $49,000. Amundi raised its position in shares of PennyMac Mortgage Investment Trust by 169.7% during the 4th quarter. Amundi now owns 41,977 shares of the real estate investment trust’s stock valued at $521,000 after acquiring an additional 26,411 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new position in PennyMac Mortgage Investment Trust during the fourth quarter worth $25,000. Institutional investors own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reiterated a “market outperform” rating and set a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.20.

PennyMac Mortgage Investment Trust Trading Down 0.9 %

Shares of NYSE PMT opened at $14.62 on Friday. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $15.22. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 10.99 and a beta of 1.51. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $13.71 and its 200 day simple moving average is $13.60.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. Equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 10.94%. The ex-dividend date of this dividend is Friday, April 11th. PennyMac Mortgage Investment Trust’s payout ratio is 120.30%.

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of PennyMac Mortgage Investment Trust stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total transaction of $210,685.00. Following the sale, the director now owns 64,082 shares of the company’s stock, valued at $929,189. The trade was a 18.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is owned by insiders.

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.