PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247,090 shares of the real estate investment trust’s stock after selling 15,514 shares during the quarter. Ameriprise Financial Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $3,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $25,000. Principal Securities Inc. lifted its holdings in PennyMac Mortgage Investment Trust by 2,042.9% in the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 2,288 shares during the period. New Age Alpha Advisors LLC acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $36,000. Allworth Financial LP acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $39,000. Finally, Sandy Spring Bank acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Up 1.6%

PennyMac Mortgage Investment Trust stock opened at $12.42 on Wednesday. The stock has a market capitalization of $1.08 billion, a PE ratio of 9.34 and a beta of 1.32. PennyMac Mortgage Investment Trust has a 12 month low of $11.77 and a 12 month high of $14.98. The business has a 50 day simple moving average of $13.14 and a 200-day simple moving average of $13.32. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.39). PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. The business had revenue of $44.47 million during the quarter, compared to analysts’ expectations of $94.36 million. During the same quarter last year, the firm earned $0.39 earnings per share. On average, analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 12.88%. The ex-dividend date of this dividend was Friday, April 11th. PennyMac Mortgage Investment Trust’s payout ratio is 172.04%.

Analyst Upgrades and Downgrades

PMT has been the subject of a number of analyst reports. UBS Group decreased their price target on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their price target on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an “outperform” rating for the company in a report on Thursday, April 24th. Wells Fargo & Company decreased their price target on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Finally, Jones Trading reissued a “hold” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust has a consensus rating of “Hold” and a consensus target price of $14.50.

Insider Buying and Selling

In other news, Director Catherine A. Lynch purchased 2,878 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average cost of $12.15 per share, for a total transaction of $34,967.70. Following the completion of the transaction, the director now owns 49,254 shares of the company’s stock, valued at $598,436.10. This trade represents a 6.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Doug Jones sold 14,530 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.

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.