PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 8.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,065 shares of the real estate investment trust’s stock after selling 1,210 shares during the period. Mutual of America Capital Management LLC’s holdings in PennyMac Mortgage Investment Trust were worth $186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Bank of New York Mellon Corp grew its stake in shares of PennyMac Mortgage Investment Trust by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 792,354 shares of the real estate investment trust’s stock worth $10,895,000 after acquiring an additional 9,506 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of PennyMac Mortgage Investment Trust by 34.4% in the second quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock worth $8,554,000 after acquiring an additional 159,131 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 18.2% in the third quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock worth $7,221,000 after acquiring an additional 77,955 shares in the last quarter. Wolverine Asset Management LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 105.8% in the third quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust’s stock worth $6,578,000 after acquiring an additional 237,210 shares in the last quarter. Finally, Dana Investment Advisors Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 40.7% in the second quarter. Dana Investment Advisors Inc. now owns 427,941 shares of the real estate investment trust’s stock worth $5,884,000 after acquiring an additional 123,890 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT stock opened at $13.60 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. The firm has a fifty day moving average price of $13.74 and a 200 day moving average price of $13.85. The company has a market cap of $1.18 billion, a P/E ratio of 10.00 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 12 month low of $12.81 and a 12 month high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued 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 quarter in the previous year, the firm posted $0.51 EPS. Sell-side analysts predict that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal 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 paid 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 11.77%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 117.65%.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the transaction, the director now owns 49,114 shares in the company, valued at $688,087.14. This represents a 42.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Wedbush reiterated a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.93.

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.