State Street Corp Acquires 37,565 Shares of PennyMac Mortgage Investment Trust (PMT)

State Street Corp boosted its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,479,887 shares of the real estate investment trust’s stock after acquiring an additional 37,565 shares during the period. State Street Corp owned about 2.21% of PennyMac Mortgage Investment Trust worth $27,065,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Campbell & CO Investment Adviser LLC bought a new position in PennyMac Mortgage Investment Trust in the second quarter worth about $184,000. M&T Bank Corp lifted its holdings in PennyMac Mortgage Investment Trust by 4.8% in the second quarter. M&T Bank Corp now owns 10,900 shares of the real estate investment trust’s stock worth $200,000 after acquiring an additional 500 shares during the last quarter. Neuberger Berman Group LLC bought a new position in PennyMac Mortgage Investment Trust in the second quarter worth about $201,000. Creative Planning lifted its holdings in PennyMac Mortgage Investment Trust by 19.1% in the second quarter. Creative Planning now owns 13,088 shares of the real estate investment trust’s stock worth $239,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in PennyMac Mortgage Investment Trust in the first quarter worth about $243,000. 63.86% of the stock is currently owned by hedge funds and other institutional investors.

PMT has been the topic of a number of recent analyst reports. Zacks Investment Research cut PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Wednesday, August 30th. ValuEngine cut PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Monday, November 6th. BidaskClub raised PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Finally, Keefe, Bruyette & Woods cut PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and cut their price target for the company from $19.00 to $18.00 in a report on Tuesday, October 10th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $17.33.

In related news, insider David Spector sold 18,750 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $17.61, for a total transaction of $330,187.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders have sold 75,000 shares of company stock worth $1,299,563. Corporate insiders own 1.80% of the company’s stock.

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Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) opened at $15.16 on Monday. The firm has a market capitalization of $994.01, a P/E ratio of 10.68 and a beta of 0.54. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.46. PennyMac Mortgage Investment Trust has a twelve month low of $14.87 and a twelve month high of $18.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.18). The business had revenue of $75.80 million for the quarter, compared to the consensus estimate of $81.72 million. PennyMac Mortgage Investment Trust had a net margin of 36.07% and a return on equity of 7.59%. The business’s quarterly revenue was down 26.6% on a year-over-year basis. During the same period last year, the firm posted $1.06 EPS. sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.64 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Friday, October 13th were issued a dividend of $0.47 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.40%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 132.39%.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.

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Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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