BNP Paribas Financial Markets increased its holdings in PennyMac Mortgage Investment Trust (NYSE: PMT – free report ) by 20.6% during the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The firm acquired an additional 8,966 shares during the period, giving it a holding of 52,493 shares of the real estate investment trust. BNP Paribas Financial Markets held about 0.06% of PennyMac Mortgage Investment Trust worth $771,000 at the end of the latest reporting period.
Other hedge funds also recently bought and sold shares of the company. Roble Berco & Co. bought a new stake in PennyMac Mortgage Investment Trust in the first quarter worth about $29,000. National Bank of Canada FI increased its holdings in 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. bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter worth about $150,000. Kestra Private Wealth Services LLC bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter worth about $183,000. Finally, Atria Wealth Solutions Inc. bought a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at about $204,000. Hedge funds and other institutional investors now own 67.38% of the company's shares.
Analyst Rating Changes
PMT has been the subject of a number of research reports recently. Keefe, Bruyette & Woods upgraded shares of PennyMac Mortgage Investment Trust from a “market average” rating to an “outperform” rating and raised their price target for the company from $15.00 to $15.50 in a research report on Wednesday, July 10th. JMP Securities raised their price target for PennyMac Mortgage Investment Trust from $15.00 to $15.50 in a research report on Friday and gave the stock a “market average” rating. Piper Sandler reaffirmed a “neutral” rating on shares of PennyMac Mortgage Investment Trust and raised their price target from $14.50 to $15.00 in a research report on Thursday, May 9th. Finally, Wedbush reaffirmed a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29. Five investment analysts have rated the stock with a hold rating, and three have assigned a buy rating to the company. According to MarketBeat, PennyMac Mortgage Investment Trust currently has a consensus rating of “hold” and an average target price of $15.07.
Get the latest research report on PennyMac Mortgage Investment Trust
PennyMac Mortgage Mutual Fund volume fell 0.4%.
PMT shares opened trading at $14.50 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.34. PennyMac Mortgage Investment Trust's one year low and high are $10.52 and $15.89, respectively. The company's 50-day simple moving average is $13.99 and its 200-day simple moving average is $14.15. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 9.67 and a beta of 1.51.
PennyMac Mortgage Mutual Fund Dividend Announcement
The company also recently declared a quarterly dividend, which is scheduled to be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a dividend of $0.40 per share. The ex-dividend date for this dividend is Friday, July 12th. This equates to a dividend of $1.60 on an annualized basis, or a dividend yield of 11.03%. PennyMac Mortgage Investment Trust has a dividend payout ratio of 106.67%.
About PennyMac Mortgage Investment Trust
(Free report)
PennyMac Mortgage Investment Trust, through its subsidiaries, invests primarily in mortgage-related assets in the United States. The company operates through the following segments: Credit Sensitive Strategies, Interest Rate Sensitive Strategies and Correspondent Production. The Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinated mortgage-backed securities (MBS), non-performing loans and real estate.
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