PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 59.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 496,591 shares of the real estate investment trust's stock after selling 722,615 shares during the quarter. JPMorgan Chase & Co. owned 0.57% of PennyMac Mortgage Investment Trust worth $6,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in PennyMac Mortgage Investment Trust by 18.2% in the third quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust's stock worth $7,221,000 after purchasing an additional 77,955 shares in the last quarter. Simplify Asset Management Inc. raised its holdings in PennyMac Mortgage Investment Trust by 476.0% in the fourth quarter. Simplify Asset Management Inc. now owns 57,600 shares of the real estate investment trust's stock worth $725,000 after purchasing an additional 47,600 shares in the last quarter. Dana Investment Advisors Inc. raised its holdings in PennyMac Mortgage Investment Trust by 5.1% in the fourth quarter. Dana Investment Advisors Inc. now owns 496,570 shares of the real estate investment trust's stock worth $6,252,000 after purchasing an additional 23,948 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of PennyMac Mortgage Investment Trust by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,520,394 shares of the real estate investment trust's stock valued at $19,142,000 after acquiring an additional 63,781 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of PennyMac Mortgage Investment Trust by 41.0% during the fourth quarter. Prudential Financial Inc. now owns 230,603 shares of the real estate investment trust's stock valued at $2,903,000 after acquiring an additional 67,000 shares in the last quarter. Institutional investors own 67.38% of the company's stock.

Wall Street Analyst Weigh In

PMT has been the topic of several recent analyst reports. JMP Securities restated a "market outperform" rating and set a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 23rd. UBS Group cut their price objective on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of "Moderate Buy" and a consensus price target of $14.83.

Insider Activity

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of PennyMac Mortgage Investment Trust stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.89% of the company's stock.

PennyMac Mortgage Investment Trust Stock Performance

PennyMac Mortgage Investment Trust stock traded down $0.82 during mid-day trading on Wednesday, hitting $12.39. The company had a trading volume of 514,198 shares, compared to its average volume of 799,258. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $15.22. The company's fifty day moving average is $13.98 and its 200-day moving average is $13.52. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 9.32 and a beta of 1.17.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.38 by ($0.39). PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. The company had revenue of $44.47 million during the quarter, compared to analysts' expectations of $94.36 million. During the same quarter in the prior year, the company posted $0.39 EPS. Equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.91%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is 120.30%.

About PennyMac Mortgage Investment Trust

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.