Intech Investment Management LLC Boosts Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

Intech Investment Management LLC grew its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 126.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,944 shares of the real estate investment trust’s stock after acquiring an additional 21,777 shares during the quarter. Intech Investment Management LLC’s holdings in PennyMac Mortgage Investment Trust were worth $555,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp increased its position in PennyMac Mortgage Investment Trust by 1.2% during 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 purchasing an additional 9,506 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of PennyMac Mortgage Investment Trust by 34.4% during the 2nd quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock valued at $8,554,000 after buying an additional 159,131 shares during the period. Principal Financial Group Inc. increased its holdings in shares of PennyMac Mortgage Investment Trust by 18.2% during the 3rd quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock worth $7,221,000 after buying an additional 77,955 shares during the last quarter. Wolverine Asset Management LLC raised its position in shares of PennyMac Mortgage Investment Trust by 105.8% in the 3rd quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust’s stock worth $6,578,000 after buying an additional 237,210 shares during the period. Finally, Dana Investment Advisors Inc. boosted its holdings in 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 valued at $5,884,000 after acquiring an additional 123,890 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and a consensus target price of $14.93.

Insider Activity

In other news, Director Doug Jones sold 37,010 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 49,114 shares in the company, valued at $688,087.14. This trade represents a 42.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Performance

NYSE:PMT opened at $13.59 on Monday. The firm’s fifty day simple moving average is $13.74 and its 200 day simple moving average is $13.83. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. PennyMac Mortgage Investment Trust has a twelve month low of $12.81 and a twelve month high of $15.89. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.99 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data 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). The company had revenue of $80.86 million for the quarter, compared to analyst estimates of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same quarter in the prior year, the firm earned $0.51 EPS. As a group, equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.77%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 117.65%.

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.