Entropy Technologies LP purchased a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT – FREE REPORT ) during the first quarter, the company announced in its latest filing with the Securities and Exchange Commission (SEC). The fund purchased 10,158 shares of the real estate investment trust's stock worth about $149,000.
Other institutional investors and hedge funds also recently modified their holdings in the company. Roble Belco & Co. acquired a new stake in PennyMac Mortgage Investment Trust worth $29,000 in the first quarter. National Bank of Canada FI increased its holding 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. acquired a new stake in PennyMac Mortgage Investment Trust worth $150,000 in the fourth quarter. Kestra Private Wealth Services LLC acquired a new stake in PennyMac Mortgage Investment Trust worth $183,000 in the fourth quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in PennyMac Mortgage Investment Trust during the 4th quarter worth $204,000. Institutional investors and hedge funds now own 67.38% of the company's shares.
What Wall Street analysts are saying
Several equity analysts have recently commented on PMT stock. Piper Sandler reaffirmed a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust (up from the previous $14.50) in a research report on Thursday, May 9th. Keefe, Bruett & Woods raised shares of PennyMac Mortgage Investment Trust from a “market average” rating to an “outperform” rating and increased their price target for the company from $15.00 to $15.50 in a research report on Wednesday, July 10th. Wedbush reaffirmed a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust (up from the previous $14.50) in a research report on Monday, April 29th. Finally, JMP Securities increased their price objective on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company an “outperform market” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, and three have assigned a buy rating to the stock. According to MarketBeat, the company's current consensus rating is a “hold” and the average target price is $15.07.
Read the latest PMT report
PennyMac Mortgage Mutual Fund Price Performance
Shares of NYSE:PMT opened trading at $14.50 on Friday. The company's 50-day simple moving average is $13.99 and its 200-day simple moving average is $14.15. PennyMac Mortgage Investment Trust's one year low is $10.52 and high is $15.89. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.34 and a current ratio of 0.34. 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 is Friday, July 12th. This equates to an annualized dividend of $1.60 and a yield of 11.03%. PennyMac Mortgage Investment Trust's dividend payout ratio is currently 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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