PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by RDA Financial Network

RDA Financial Network lowered its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,857 shares of the real estate investment trust’s stock after selling 1,000 shares during the period. RDA Financial Network’s holdings in PennyMac Mortgage Investment Trust were worth $321,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Roble Belko & Company Inc acquired a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter valued at $29,000. National Bank of Canada FI boosted its stake in PennyMac Mortgage Investment Trust by 94.9% in the 4th quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 1,603 shares during the last quarter. Essex Financial Services Inc. acquired a new stake in PennyMac Mortgage Investment Trust in the 4th quarter worth about $150,000. Kestra Private Wealth Services LLC acquired a new stake in PennyMac Mortgage Investment Trust in the 4th quarter worth about $183,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in PennyMac Mortgage Investment Trust in the 3rd quarter worth about $157,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

PMT has been the topic of a number of research analyst reports. Wedbush reissued a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29th. Piper Sandler restated a “neutral” rating and issued a $15.00 price objective (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a report on Thursday, May 9th. Finally, JMP Securities restated a “market outperform” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.92.

PennyMac Mortgage Investment Trust Stock Performance

PennyMac Mortgage Investment Trust stock opened at $13.70 on Monday. The stock’s 50-day moving average is $13.99 and its 200-day moving average is $14.30. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 9.12 and a beta of 1.50. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.34. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 11.68%. PennyMac Mortgage Investment Trust’s payout ratio is currently 106.67%.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.