Citigroup Inc. Grows Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

Citigroup Inc. boosted its position in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 43.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 407,660 shares of the real estate investment trust's stock after purchasing an additional 123,079 shares during the period. Citigroup Inc. owned about 0.47% of PennyMac Mortgage Investment Trust worth $5,813,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PMT. Simplify Asset Management Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust in the third quarter valued at approximately $143,000. Aigen Investment Management LP purchased a new position in PennyMac Mortgage Investment Trust in the 3rd quarter worth approximately $152,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 2nd quarter valued at $177,000. Caprock Group LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 9.3% during the 3rd quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust's stock worth $195,000 after acquiring an additional 1,156 shares during the last quarter. Finally, Caxton Associates LP purchased a new position in PennyMac Mortgage Investment Trust in the second quarter worth $232,000. Institutional investors own 67.38% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated a "neutral" rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $14.93.

Insider Buying and Selling

In other news, Director Doug Jones sold 37,010 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total value of $518,510.10. Following the transaction, the director now owns 49,114 shares in the company, valued at $688,087.14. This represents a 42.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is owned by corporate insiders.

PennyMac Mortgage Investment Trust Stock Up 0.2 %

PennyMac Mortgage Investment Trust stock traded up $0.03 during mid-day trading on Monday, hitting $13.62. The company had a trading volume of 494,054 shares, compared to its average volume of 728,029. PennyMac Mortgage Investment Trust has a 12 month low of $12.81 and a 12 month high of $15.89. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. The stock's 50 day moving average price is $13.73 and its two-hundred day moving average price is $13.82. The company has a market capitalization of $1.18 billion, a PE ratio of 10.01 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $80.86 million for the quarter, compared to analysts' expectations of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same period last year, the company posted $0.51 earnings per share. As a group, sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.75%. The ex-dividend date of this dividend was Friday, October 11th. PennyMac Mortgage Investment Trust's payout ratio is 117.65%.

PennyMac Mortgage Investment Trust 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.