Simplify Asset Management Inc. Purchases 47,600 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Simplify Asset Management Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 476.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 57,600 shares of the real estate investment trust's stock after purchasing an additional 47,600 shares during the period. Simplify Asset Management Inc. owned approximately 0.07% of PennyMac Mortgage Investment Trust worth $725,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PMT. Rialto Wealth Management LLC purchased a new position in PennyMac Mortgage Investment Trust during the fourth quarter valued at $25,000. Versant Capital Management Inc increased its holdings 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 valued at $28,000 after acquiring an additional 822 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter worth about $28,000. Principal Securities Inc. boosted its stake 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 worth $30,000 after purchasing an additional 2,288 shares in the last quarter. Finally, Allworth Financial LP purchased a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at about $39,000. 67.38% of the stock is owned by institutional investors.

PennyMac Mortgage Investment Trust Stock Performance

Shares of NYSE PMT traded up $0.13 during trading on Thursday, reaching $14.78. 957,623 shares of the company traded hands, compared to its average volume of 744,693. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $13.90 and a 200-day simple moving average of $13.63. PennyMac Mortgage Investment Trust has a 52-week low of $11.77 and a 52-week high of $15.22. The stock has a market capitalization of $1.28 billion, a PE ratio of 11.11 and a beta of 1.51.

Remove Ads

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 EPS 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%. Equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 10.83%. The ex-dividend date of this dividend is Friday, April 11th. PennyMac Mortgage Investment Trust's payout ratio is 120.30%.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 14,530 shares of the 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 transaction, the director now directly owns 64,082 shares in the company, valued at approximately $929,189. This represents a 18.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.89% of the company's stock.

Analyst Ratings Changes

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

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.