Legal & General Group Plc Makes New Investment in PennyMac Mortgage Investment Trust $PMT

Legal & General Group Plc acquired a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 216,707 shares of the real estate investment trust’s stock, valued at approximately $2,444,000.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in PennyMac Mortgage Investment Trust in the second quarter valued at about $164,344,000. Invesco Ltd. grew its stake in PennyMac Mortgage Investment Trust by 8.8% during the third quarter. Invesco Ltd. now owns 2,204,584 shares of the real estate investment trust’s stock worth $27,028,000 after buying an additional 178,834 shares in the last quarter. Geode Capital Management LLC increased its holdings in PennyMac Mortgage Investment Trust by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 2,113,185 shares of the real estate investment trust’s stock valued at $26,524,000 after buying an additional 11,764 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PennyMac Mortgage Investment Trust by 7.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,501,206 shares of the real estate investment trust’s stock valued at $18,405,000 after buying an additional 98,701 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of PennyMac Mortgage Investment Trust by 41.8% in the 3rd quarter. Millennium Management LLC now owns 1,339,158 shares of the real estate investment trust’s stock valued at $16,418,000 after buying an additional 394,497 shares in the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on PMT shares. Deutsche Bank Aktiengesellschaft raised shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of PennyMac Mortgage Investment Trust in a report on Tuesday, August 18th. Wells Fargo & Company decreased their price target on PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, July 31st. UBS Group lowered their price target on PennyMac Mortgage Investment Trust from $11.25 to $10.00 and set a “neutral” rating for the company in a report on Friday, August 21st. Finally, Wall Street Zen lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Three 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.50.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT opened at $9.66 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 9.18. The stock has a market cap of $842.35 million, a PE ratio of 6.80, a PEG ratio of 0.72 and a beta of 1.14. PennyMac Mortgage Investment Trust has a 12-month low of $9.05 and a 12-month high of $13.81. The business has a 50-day simple moving average of $9.81 and a two-hundred day simple moving average of $10.77.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). The firm had revenue of ($46.00) million for the quarter, compared to analyst estimates of $93.93 million. PennyMac Mortgage Investment Trust had a net margin of 47.79% and a return on equity of 12.50%. Analysts anticipate that PennyMac Mortgage Investment Trust will post 1.03 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Thursday, October 8th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $1.60 annualized dividend and a dividend yield of 16.6%. PennyMac Mortgage Investment Trust’s payout ratio is currently 112.68%.

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.