ProShare Advisors LLC Decreases Stake in PennyMac Mortgage Investment Trust (NYSE:PMT)

ProShare Advisors LLC lessened its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 23.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,385 shares of the real estate investment trust’s stock after selling 4,139 shares during the period. ProShare Advisors LLC’s holdings in PennyMac Mortgage Investment Trust were worth $184,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PMT. Louisiana State Employees Retirement System grew its position in shares of PennyMac Mortgage Investment Trust by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust’s stock valued at $601,000 after purchasing an additional 800 shares in the last quarter. Inspire Investing LLC boosted its stake in PennyMac Mortgage Investment Trust by 4.7% during the second quarter. Inspire Investing LLC now owns 25,564 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 1,144 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in PennyMac Mortgage Investment Trust by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 75,812 shares of the real estate investment trust’s stock valued at $1,113,000 after buying an additional 1,179 shares in the last quarter. Roble Belko & Company Inc acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter worth $29,000. Finally, Van ECK Associates Corp raised its holdings in shares of PennyMac Mortgage Investment Trust by 0.7% during the 1st quarter. Van ECK Associates Corp now owns 463,002 shares of the real estate investment trust’s stock worth $6,797,000 after acquiring an additional 3,192 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

Insiders Place Their Bets

In other news, Director Doug Jones sold 37,010 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total value of $518,510.10. Following the sale, the director now directly owns 49,114 shares in the company, valued at approximately $688,087.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 2,879 shares of company stock worth $39,028 over the last 90 days. Corporate insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Trading Up 0.8 %

Shares of NYSE PMT opened at $14.29 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $1.24 billion, a PE ratio of 9.53 and a beta of 1.51. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. The stock has a fifty day simple moving average of $13.89 and a 200-day simple moving average of $14.01.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.17). PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. The business had revenue of $71.20 million for the quarter, compared to analysts’ expectations of $90.26 million. During the same quarter last year, the company earned $0.16 earnings per share. On average, equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.27 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a $0.40 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 11.20%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 106.67%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PMT shares. B. Riley reissued a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. JMP Securities lifted their price target 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. 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. Keefe, Bruyette & Woods cut their target price on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Finally, Piper Sandler decreased their price target on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.93.

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.