414,015 Shares in PennyMac Mortgage Investment Trust (NYSE:PMT) Acquired by Norges Bank

Norges Bank bought a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 414,015 shares of the real estate investment trust's stock, valued at approximately $5,212,000. Norges Bank owned 0.48% of PennyMac Mortgage Investment Trust at the end of the most recent quarter.

Several other large investors have also modified their holdings of PMT. GraniteShares Advisors LLC acquired a new position in PennyMac Mortgage Investment Trust in the 4th quarter valued at $2,461,000. Raymond James Financial Inc. acquired a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at about $1,300,000. Barclays PLC boosted its holdings in PennyMac Mortgage Investment Trust by 218.7% in the 3rd quarter. Barclays PLC now owns 148,734 shares of the real estate investment trust's stock valued at $2,121,000 after purchasing an additional 102,067 shares in the last quarter. Angel Oak Capital Advisors LLC acquired a new position in PennyMac Mortgage Investment Trust during the 4th quarter worth approximately $1,186,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 worth $2,487,000 after buying an additional 82,735 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of the stock in a transaction on Wednesday, March 5th. The stock was 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 in the company, valued at approximately $929,189. This represents a 18.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is owned by corporate insiders.

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Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, PennyMac Mortgage Investment Trust presently has an average rating of "Moderate Buy" and an average price target of $15.20.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock traded up $0.16 during mid-day trading on Tuesday, reaching $12.72. The company had a trading volume of 105,373 shares, compared to its average volume of 823,061. The stock's 50-day simple moving average is $14.06 and its 200-day simple moving average is $13.57. PennyMac Mortgage Investment Trust has a 1 year low of $11.77 and a 1 year high of $15.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41. The company has a market capitalization of $1.10 billion, a P/E ratio of 9.55 and a beta of 1.17.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 12.58%. PennyMac Mortgage Investment Trust's dividend payout ratio is presently 120.30%.

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.