Optimize Financial Inc Acquires Shares of 24,301 PennyMac Mortgage Investment Trust (NYSE:PMT)

Optimize Financial Inc acquired a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 24,301 shares of the real estate investment trust's stock, valued at approximately $306,000.

A number of other institutional investors also recently bought and sold shares of PMT. Rialto Wealth Management LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $25,000. Versant Capital Management Inc grew its holdings in shares of PennyMac Mortgage Investment Trust by 58.0% during the 4th quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 822 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth about $28,000. Principal Securities Inc. raised its holdings in PennyMac Mortgage Investment Trust by 2,042.9% in the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 2,288 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at about $36,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities reissued a "market outperform" rating and issued a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust presently has an average rating of "Moderate Buy" and an average target price of $15.20.

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PennyMac Mortgage Investment Trust Stock Up 1.6 %

PennyMac Mortgage Investment Trust stock traded up $0.20 during mid-day trading on Tuesday, reaching $12.76. 626,721 shares of the company's stock were exchanged, compared to its average volume of 796,044. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43. PennyMac Mortgage Investment Trust has a twelve month low of $11.77 and a twelve month high of $15.22. The company has a market cap of $1.11 billion, a P/E ratio of 9.59 and a beta of 1.17. The company has a fifty day moving average of $14.05 and a 200-day moving average of $13.56.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. Sell-side analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 12.54%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is currently 120.30%.

Insider Buying and Selling

In related news, 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 transaction of $210,685.00. Following the completion of the sale, the director now owns 64,082 shares in the company, valued at $929,189. The trade was a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.89% of the company's stock.

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.