GSA Capital Partners LLP Sells 60,791 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

GSA Capital Partners LLP cut its stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 43.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,412 shares of the real estate investment trust's stock after selling 60,791 shares during the quarter. GSA Capital Partners LLP owned approximately 0.09% of PennyMac Mortgage Investment Trust worth $1,132,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PMT. Jane Street Group LLC lifted its position in PennyMac Mortgage Investment Trust by 124.7% during the first quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust's stock worth $4,277,000 after acquiring an additional 161,723 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in PennyMac Mortgage Investment Trust by 173.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 155,309 shares of the real estate investment trust's stock worth $2,280,000 after purchasing an additional 98,500 shares during the last quarter. Wolverine Asset Management LLC boosted its stake in PennyMac Mortgage Investment Trust by 105.8% in the 3rd quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust's stock valued at $6,578,000 after purchasing an additional 237,210 shares during the period. International Assets Investment Management LLC grew its holdings in PennyMac Mortgage Investment Trust by 1,607.2% in the 3rd quarter. International Assets Investment Management LLC now owns 367,908 shares of the real estate investment trust's stock valued at $5,246,000 after buying an additional 346,358 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new position in PennyMac Mortgage Investment Trust during the 2nd quarter worth $302,000. Institutional investors and hedge funds own 67.38% of the company's stock.

Analyst Ratings Changes

PMT has been the subject of a number of recent research reports. Wedbush reissued a "neutral" rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. JMP Securities raised their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a "market outperform" rating in a report on Friday, July 19th. Piper Sandler dropped their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a "neutral" rating for the company in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods reduced their price target on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an "outperform" rating on the stock in a research report on Thursday, July 25th. Finally, B. Riley reaffirmed a "buy" rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust has an average rating of "Hold" and an average price target of $14.93.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PennyMac Mortgage Investment Trust stock remained flat at $13.07 during trading on Friday. The stock had a trading volume of 901,046 shares, compared to its average volume of 740,100. The company has a fifty day simple moving average of $13.89 and a 200-day simple moving average of $13.94. The stock has a market cap of $1.13 billion, a P/E ratio of 9.58 and a beta of 1.51. The company has a current ratio of 0.41, a quick ratio of 0.85 and a debt-to-equity ratio of 1.56. PennyMac Mortgage Investment Trust has a 12 month low of $12.81 and a 12 month high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced 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 analyst estimates 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 last year, the company posted $0.51 earnings per share. As a group, equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 12.25%. PennyMac Mortgage Investment Trust's dividend payout ratio is presently 117.65%.

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total transaction of $518,510.10. Following the completion of the sale, the director now owns 49,114 shares of the company's stock, valued at approximately $688,087.14. This represents a 42.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.