Intech Investment Management LLC Has $3.96 Million Stake in PennyMac Mortgage Investment Trust $PMT

Intech Investment Management LLC grew its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 319.3% during the fourth quarter, HoldingsChannel reports. The firm owned 315,415 shares of the real estate investment trust’s stock after buying an additional 240,197 shares during the period. Intech Investment Management LLC’s holdings in PennyMac Mortgage Investment Trust were worth $3,958,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PMT. Flagship Harbor Advisors LLC bought a new position in PennyMac Mortgage Investment Trust during the fourth quarter worth $26,000. GAMMA Investing LLC lifted its holdings in PennyMac Mortgage Investment Trust by 102.8% in the fourth quarter. GAMMA Investing LLC now owns 2,752 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 1,395 shares during the period. Clearstead Advisors LLC boosted its position in PennyMac Mortgage Investment Trust by 184.3% during the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,815 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its position in PennyMac Mortgage Investment Trust by 200.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,000 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in PennyMac Mortgage Investment Trust during the 3rd quarter worth about $50,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Trading Down 1.1%

NYSE PMT opened at $10.35 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 7.99. PennyMac Mortgage Investment Trust has a 52 week low of $10.18 and a 52 week high of $13.81. The business has a 50 day moving average price of $11.34 and a 200-day moving average price of $12.14. The company has a market cap of $902.10 million, a price-to-earnings ratio of 9.00, a P/E/G ratio of 0.63 and a beta of 1.21.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). PennyMac Mortgage Investment Trust had a return on equity of 10.71% and a net margin of 41.38%.The firm had revenue of $82.29 million during the quarter, compared to the consensus estimate of $92.92 million. As a group, equities analysts expect that PennyMac Mortgage Investment Trust will post 1.24 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Thursday, April 9th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 15.5%. The ex-dividend date of this dividend was Thursday, April 9th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 139.13%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $12.00 price objective (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a research report on Friday, May 8th. Weiss Ratings lowered PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 21st. Wells Fargo & Company lowered their target price on PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. Wall Street Zen lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Zacks Research cut PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and a consensus target price of $12.80.

PennyMac Mortgage Investment Trust Profile

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.