The Manufacturers Life Insurance Company Grows Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

The Manufacturers Life Insurance Company raised its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,720 shares of the real estate investment trust’s stock after buying an additional 1,827 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of PennyMac Mortgage Investment Trust worth $601,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PMT. Roble Belko & Company Inc purchased a new stake in PennyMac Mortgage Investment Trust in the 1st quarter valued at $29,000. EntryPoint Capital LLC boosted its stake 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 buying an additional 5,015 shares during the period. Entropy Technologies LP purchased a new position in shares of PennyMac Mortgage Investment Trust during the first quarter worth about $149,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in PennyMac Mortgage Investment Trust in the 1st quarter valued at about $157,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in PennyMac Mortgage Investment Trust during the 2nd quarter valued at approximately $177,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their target price on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. 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. Wedbush restated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, July 25th. JMP Securities lifted their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Finally, Piper Sandler cut their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average price target of $14.93.

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust 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 transaction of $518,510.10. Following the sale, the director now owns 49,114 shares in the company, valued at approximately $688,087.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders acquired 2,879 shares of company stock worth $39,028. Insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Trading Down 0.2 %

Shares of PMT opened at $14.00 on Wednesday. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. 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 firm has a market capitalization of $1.22 billion, a P/E ratio of 9.33 and a beta of 1.51. The firm’s 50-day moving average is $13.98 and its two-hundred day moving average is $13.99.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.17). The firm had revenue of $71.20 million during the quarter, compared to analysts’ expectations of $90.26 million. PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. During the same period in the previous year, the business earned $0.16 earnings per share. On average, research analysts predict that PennyMac Mortgage Investment Trust will post 1.28 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 11.43%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 106.67%.

PennyMac Mortgage Investment Trust 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.