Janney Montgomery Scott LLC Increases Stake in PennyMac Mortgage Investment Trust (NYSE:PMT)

Janney Montgomery Scott LLC increased its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,794 shares of the real estate investment trust’s stock after buying an additional 2,387 shares during the period. Janney Montgomery Scott LLC owned about 0.07% of PennyMac Mortgage Investment Trust worth $810,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PMT. BNP Paribas Financial Markets grew its stake in PennyMac Mortgage Investment Trust by 20.6% in the first quarter. BNP Paribas Financial Markets now owns 52,493 shares of the real estate investment trust’s stock valued at $771,000 after purchasing an additional 8,966 shares during the last quarter. ProShare Advisors LLC grew its stake in PennyMac Mortgage Investment Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust’s stock valued at $257,000 after purchasing an additional 1,207 shares during the last quarter. Entropy Technologies LP purchased a new position in PennyMac Mortgage Investment Trust in the first quarter valued at about $149,000. State Board of Administration of Florida Retirement System grew its stake in PennyMac Mortgage Investment Trust by 53.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 38,766 shares of the real estate investment trust’s stock valued at $569,000 after purchasing an additional 13,530 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new position in PennyMac Mortgage Investment Trust in the first quarter valued at about $157,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Performance

PennyMac Mortgage Investment Trust stock opened at $13.06 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.41 and a debt-to-equity ratio of 1.56. PennyMac Mortgage Investment Trust has a 52 week low of $12.81 and a 52 week high of $15.89. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 9.60 and a beta of 1.51. The stock has a 50-day moving average price of $13.88 and a 200 day moving average price of $13.93.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. The firm had revenue of $80.86 million for the quarter, compared to analyst estimates of $93.75 million. During the same period last year, the firm earned $0.51 EPS. Sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 12.25%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 117.65%.

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction that occurred 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 owns 49,114 shares in the company, valued at approximately $688,087.14. This represents a 42.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PMT shares. Piper Sandler dropped 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. Wedbush restated a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. B. Riley restated a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods dropped their price target 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.93.

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.