Sharpepoint LLC Purchases Shares of 72,114 PennyMac Mortgage Investment Trust $PMT

Sharpepoint LLC bought a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) during the 4th quarter, Holdings Channel.com reports. The fund bought 72,114 shares of the real estate investment trust’s stock, valued at approximately $905,000.

Several other hedge funds also recently made changes to their positions in PMT. Flagship Harbor Advisors LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth approximately $26,000. GAMMA Investing LLC increased its stake 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 acquiring an additional 1,395 shares during the last quarter. Clearstead Advisors LLC increased its stake in PennyMac Mortgage Investment Trust by 184.3% in 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. increased its stake in PennyMac Mortgage Investment Trust by 200.0% in 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 bought a new position in PennyMac Mortgage Investment Trust in the third quarter valued at approximately $50,000. 67.38% of the stock is owned by institutional investors.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PennyMac Mortgage Investment Trust stock opened at $9.86 on Thursday. PennyMac Mortgage Investment Trust has a fifty-two week low of $9.84 and a fifty-two week high of $13.81. The company has a debt-to-equity ratio of 7.99, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $860.16 million, a P/E ratio of 8.58, a P/E/G ratio of 0.62 and a beta of 1.15. The company’s 50 day moving average price is $11.17 and its two-hundred day moving average price is $12.03.

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 for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). PennyMac Mortgage Investment Trust had a net margin of 41.38% and a return on equity of 10.71%. The company had revenue of $82.29 million during the quarter, compared to analyst estimates of $92.92 million. On average, equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PMT shares. Wells Fargo & Company decreased their price objective on shares of PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th. Wall Street Zen cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Zacks Research cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Piper Sandler decreased their price objective on shares of PennyMac Mortgage Investment Trust from $13.00 to $11.50 and set a “neutral” rating on the stock in a research note on Tuesday, May 26th. Finally, 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 note on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average price target of $12.80.

PennyMac Mortgage Investment Trust Company 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.