PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. boosted its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 41.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 230,603 shares of the real estate investment trust's stock after buying an additional 67,000 shares during the period. Prudential Financial Inc. owned approximately 0.27% of PennyMac Mortgage Investment Trust worth $2,903,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Rialto Wealth Management LLC purchased a new position in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at $25,000. Wilmington Savings Fund Society FSB purchased a new position in PennyMac Mortgage Investment Trust in the third quarter valued at about $28,000. Versant Capital Management Inc lifted its stake in shares of PennyMac Mortgage Investment Trust by 58.0% during the fourth 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 in the last quarter. Principal Securities Inc. boosted its position in shares of PennyMac Mortgage Investment Trust by 2,042.9% in the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust's stock worth $30,000 after buying an additional 2,288 shares during the period. Finally, Allworth Financial LP acquired a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at about $39,000. 67.38% of the stock is owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Stock Down 4.7 %

NYSE PMT traded down $0.64 during mid-day trading on Monday, reaching $13.03. 1,924,833 shares of the company's stock traded hands, compared to its average volume of 781,310. 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 1-year low of $11.77 and a 1-year high of $15.22. The company has a fifty day simple moving average of $14.12 and a 200-day simple moving average of $13.63. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 9.80 and a beta of 1.17.

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PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. As a group, equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.28%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is presently 120.30%.

Insider Transactions at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 14,530 shares of the firm's 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 transaction, the director now directly owns 64,082 shares in the company, valued at $929,189. This trade represents a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.89% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a "market outperform" rating and issued a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $15.20.

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.