Vanguard Group Inc. Sells 120,292 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Vanguard Group Inc. trimmed its position in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,592,978 shares of the real estate investment trust's stock after selling 120,292 shares during the period. Vanguard Group Inc. owned approximately 11.04% of PennyMac Mortgage Investment Trust worth $120,776,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 90.2% in 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 valued at $2,487,000 after buying an additional 82,735 shares during the period. HighTower Advisors LLC raised its position in shares of PennyMac Mortgage Investment Trust by 56.1% during the third quarter. HighTower Advisors LLC now owns 32,023 shares of the real estate investment trust's stock worth $454,000 after purchasing an additional 11,509 shares during the period. Stifel Financial Corp lifted its holdings in shares of PennyMac Mortgage Investment Trust by 169.6% during the 3rd quarter. Stifel Financial Corp now owns 34,301 shares of the real estate investment trust's stock valued at $489,000 after purchasing an additional 21,580 shares in the last quarter. Barclays PLC grew its position in shares of 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 during the period. Finally, Vestcor Inc raised its holdings in PennyMac Mortgage Investment Trust by 136.5% during the 3rd quarter. Vestcor Inc now owns 71,565 shares of the real estate investment trust's stock worth $1,021,000 after buying an additional 41,300 shares during the period. Institutional investors own 67.38% of the company's stock.

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Insider Activity

In other news, Director Doug Jones sold 14,530 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the sale, the director now owns 64,082 shares of the company's stock, valued at approximately $929,189. The trade was a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

PennyMac Mortgage Investment Trust Stock Performance

NYSE:PMT traded down $0.40 during mid-day trading on Friday, hitting $12.23. The stock had a trading volume of 1,342,885 shares, compared to its average volume of 795,466. The company's 50 day simple moving average is $14.08 and its 200 day simple moving average is $13.58. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 9.19 and a beta of 1.17. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41. PennyMac Mortgage Investment Trust has a twelve month low of $11.77 and a twelve month high of $15.22.

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 EPS for the quarter, beating the consensus estimate 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%. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.09%. The ex-dividend date of this dividend is Friday, April 11th. 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.