Shell Asset Management Co. Sells 4,087 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Shell Asset Management Co. lowered its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMTGet Rating) by 12.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,684 shares of the real estate investment trust’s stock after selling 4,087 shares during the quarter. Shell Asset Management Co.’s holdings in PennyMac Mortgage Investment Trust were worth $468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PMT. Janney Montgomery Scott LLC raised its position in shares of PennyMac Mortgage Investment Trust by 3.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,150 shares of the real estate investment trust’s stock worth $488,000 after acquiring an additional 857 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth $384,000. Commonwealth Equity Services LLC increased its holdings in PennyMac Mortgage Investment Trust by 57.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 28,566 shares of the real estate investment trust’s stock valued at $495,000 after purchasing an additional 10,412 shares during the last quarter. Yousif Capital Management LLC bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at about $1,547,000. Finally, Centaurus Financial Inc. increased its holdings in PennyMac Mortgage Investment Trust by 3.7% in the fourth quarter. Centaurus Financial Inc. now owns 49,578 shares of the real estate investment trust’s stock valued at $859,000 after purchasing an additional 1,778 shares during the last quarter. Institutional investors own 70.77% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Up 1.5 %

NYSE:PMT opened at $15.14 on Thursday. PennyMac Mortgage Investment Trust has a 1 year low of $11.64 and a 1 year high of $20.72. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.38. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -20.74 and a beta of 1.17. The stock has a 50-day moving average price of $14.62 and a two-hundred day moving average price of $15.63.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 28th. Stockholders of record on Thursday, July 14th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Wednesday, July 13th. This represents a $1.88 annualized dividend and a dividend yield of 12.42%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently -257.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PMT shares. Jonestrading dropped their price objective on PennyMac Mortgage Investment Trust from $18.50 to $18.00 in a report on Friday, May 6th. B. Riley dropped their price objective on PennyMac Mortgage Investment Trust from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, July 1st. Credit Suisse Group dropped their price objective on PennyMac Mortgage Investment Trust to $16.50 in a report on Friday, July 22nd. StockNews.com downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Finally, Piper Sandler decreased their target price on PennyMac Mortgage Investment Trust from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.97.

PennyMac Mortgage Investment Trust Company Profile

(Get Rating)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

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Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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