International Assets Investment Management LLC Cuts Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

International Assets Investment Management LLC decreased its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,800 shares of the real estate investment trust’s stock after selling 1,350 shares during the period. International Assets Investment Management LLC’s holdings in PennyMac Mortgage Investment Trust were worth $326,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. grew its position in shares of PennyMac Mortgage Investment Trust by 4.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,571,966 shares of the real estate investment trust’s stock valued at $23,501,000 after purchasing an additional 64,055 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,299,582 shares of the real estate investment trust’s stock valued at $16,115,000 after purchasing an additional 78,311 shares in the last quarter. Invesco Ltd. grew its position in shares of PennyMac Mortgage Investment Trust by 2.8% during the third quarter. Invesco Ltd. now owns 1,213,989 shares of the real estate investment trust’s stock valued at $15,053,000 after purchasing an additional 32,803 shares in the last quarter. Van ECK Associates Corp grew its position in shares of PennyMac Mortgage Investment Trust by 4.0% during the third quarter. Van ECK Associates Corp now owns 453,847 shares of the real estate investment trust’s stock valued at $5,628,000 after purchasing an additional 17,273 shares in the last quarter. Finally, Natixis Advisors L.P. grew its position in shares of PennyMac Mortgage Investment Trust by 22.3% during the third quarter. Natixis Advisors L.P. now owns 266,105 shares of the real estate investment trust’s stock valued at $3,300,000 after purchasing an additional 48,507 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Up 0.5 %

Shares of NYSE PMT opened at $13.80 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market cap of $1.20 billion, a P/E ratio of 9.20 and a beta of 1.47. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The firm has a 50-day simple moving average of $14.27 and a two-hundred day simple moving average of $14.32.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.59%. The ex-dividend date was Thursday, April 11th. PennyMac Mortgage Investment Trust’s payout ratio is currently 106.67%.

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $14.34, for a total value of $111,995.40. Following the completion of the sale, the director now owns 53,311 shares of the company’s stock, valued at $764,479.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.89% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on PMT shares. B. Riley lifted their price target on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Wedbush reiterated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Monday, April 29th. JMP Securities reiterated a “market outperform” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, April 18th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $15.00 price target (up previously from $14.50) on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.92.

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.