Marshall Wace North America L.P. acquired a new position in PennyMac Mortgage Investment Trust (NYSE:PMT) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,982 shares of the real estate investment trust’s stock, valued at approximately $414,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of PMT. Norges Bank bought a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at $18,005,000. Marshall Wace LLP bought a new stake in PennyMac Mortgage Investment Trust during the 1st quarter valued at $14,017,000. Bessemer Group Inc. raised its position in PennyMac Mortgage Investment Trust by 629.8% during the 4th quarter. Bessemer Group Inc. now owns 594,751 shares of the real estate investment trust’s stock valued at $11,074,000 after purchasing an additional 513,251 shares in the last quarter. Algebris UK Ltd bought a new position in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth $5,396,000. Finally, BlackRock Inc. raised its position in shares of PennyMac Mortgage Investment Trust by 2.1% in the 4th quarter. BlackRock Inc. now owns 10,456,171 shares of the real estate investment trust’s stock worth $194,694,000 after acquiring an additional 216,376 shares in the last quarter. 71.51% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently commented on PMT shares. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Piper Jaffray Companies set a $75.00 target price on Ionis Pharmaceuticals and gave the stock a “hold” rating in a research note on Friday, May 24th. Finally, Nomura dropped their price target on Carnival from $66.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.25.
PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.25. The business had revenue of $106.62 million during the quarter, compared to analyst estimates of $89.10 million. PennyMac Mortgage Investment Trust had a return on equity of 13.71% and a net margin of 46.63%. During the same period in the prior year, the business earned $0.35 earnings per share. As a group, analysts forecast that PennyMac Mortgage Investment Trust will post 2.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Monday, July 15th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.88 annualized dividend and a yield of 8.50%. PennyMac Mortgage Investment Trust’s payout ratio is 94.47%.
In related news, insider Jeffrey Grogin sold 1,862 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $18.69, for a total value of $34,800.78. Following the completion of the transaction, the insider now directly owns 36,642 shares in the company, valued at $684,838.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.45% of the company’s stock.
PennyMac Mortgage Investment Trust Profile
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).
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