K2 Principal Fund L.P. purchased a new position in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 409,610 shares of the real estate investment trust's stock, valued at approximately $5,841,000. K2 Principal Fund L.P. owned 0.47% of PennyMac Mortgage Investment Trust as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in PMT. Stifel Financial Corp raised its stake in PennyMac Mortgage Investment Trust by 169.6% in the third quarter. Stifel Financial Corp now owns 34,301 shares of the real estate investment trust's stock valued at $489,000 after purchasing an additional 21,580 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 56.1% in the 3rd quarter. HighTower Advisors LLC now owns 32,023 shares of the real estate investment trust's stock worth $454,000 after buying an additional 11,509 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PennyMac Mortgage Investment Trust by 90.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,436 shares of the real estate investment trust's stock valued at $2,487,000 after buying an additional 82,735 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 16.2% during the 3rd quarter. Penserra Capital Management LLC now owns 91,855 shares of the real estate investment trust's stock worth $1,309,000 after acquiring an additional 12,806 shares during the last quarter. Finally, Citigroup Inc. grew its position in PennyMac Mortgage Investment Trust by 43.2% in the third quarter. Citigroup Inc. now owns 407,660 shares of the real estate investment trust's stock worth $5,813,000 after acquiring an additional 123,079 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.
Analysts Set New Price Targets
Separately, Wedbush restated a "neutral" rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $15.17.
Check Out Our Latest Analysis on PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust Trading Up 1.0 %
PennyMac Mortgage Investment Trust stock traded up $0.13 during mid-day trading on Friday, hitting $13.56. The company's stock had a trading volume of 399,627 shares, compared to its average volume of 617,896. The business has a 50 day moving average price of $13.67 and a 200-day moving average price of $13.80. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41. PennyMac Mortgage Investment Trust has a 12 month low of $12.81 and a 12 month high of $15.89. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 9.97 and a beta of 1.50.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $80.86 million for the quarter, compared to the consensus estimate of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same quarter in the previous year, the business earned $0.51 earnings per share. As a group, analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.
PennyMac Mortgage Investment Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.80%. The ex-dividend date was Friday, October 11th. PennyMac Mortgage Investment Trust's payout ratio is 117.65%.
About PennyMac Mortgage Investment Trust
(
Free Report)
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.
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