Rhumbline Advisers Reduces Stock Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

Rhumbline Advisers cut its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 275,704 shares of the real estate investment trust’s stock after selling 2,275 shares during the period. Rhumbline Advisers owned 0.32% of PennyMac Mortgage Investment Trust worth $3,791,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Roble Belko & Company Inc purchased a new position in shares of PennyMac Mortgage Investment Trust during the first quarter worth approximately $29,000. National Bank of Canada FI grew its position in shares of PennyMac Mortgage Investment Trust by 94.9% during the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 1,603 shares during the last quarter. EntryPoint Capital LLC grew its position in shares of PennyMac Mortgage Investment Trust by 251.8% during the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 5,015 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of PennyMac Mortgage Investment Trust during the first quarter worth approximately $149,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of PennyMac Mortgage Investment Trust during the first quarter worth approximately $157,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 37,010 shares of PennyMac Mortgage Investment Trust stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total transaction of $518,510.10. Following the completion of the transaction, the director now owns 49,114 shares of the company’s stock, valued at approximately $688,087.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders bought 2,879 shares of company stock valued at $39,028 in the last 90 days. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PMT has been the topic of a number of analyst reports. Piper Sandler lowered their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Wedbush reiterated a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, July 25th. JMP Securities lifted their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. B. Riley reiterated a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.93.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $14.20 on Tuesday. The company has a market cap of $1.23 billion, a P/E ratio of 9.47 and a beta of 1.51. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.33 and a current ratio of 0.33. PennyMac Mortgage Investment Trust has a one year low of $10.52 and a one year high of $15.89. The business has a fifty day moving average of $13.91 and a two-hundred day moving average of $14.01.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.17). The firm had revenue of $71.20 million for the quarter, compared to analyst estimates of $90.26 million. PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. During the same period last year, the firm earned $0.16 EPS. As a group, analysts predict that PennyMac Mortgage Investment Trust will post 1.27 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Company Profile

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.