BNP Paribas Financial Markets Decreases Stake in PennyMac Mortgage Investment Trust (NYSE:PMT)

BNP Paribas Financial Markets lowered its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 7.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,643 shares of the real estate investment trust’s stock after selling 2,123 shares during the quarter. BNP Paribas Financial Markets’ holdings in PennyMac Mortgage Investment Trust were worth $366,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Simplify Asset Management Inc. purchased a new stake in PennyMac Mortgage Investment Trust in the 3rd quarter worth about $143,000. Aigen Investment Management LP bought a new position in PennyMac Mortgage Investment Trust in the 3rd quarter worth about $152,000. Allspring Global Investments Holdings LLC bought a new position in PennyMac Mortgage Investment Trust in the 2nd quarter worth about $177,000. Caprock Group LLC boosted its stake in PennyMac Mortgage Investment Trust by 9.3% in the 3rd quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock worth $195,000 after purchasing an additional 1,156 shares during the period. Finally, Caxton Associates LP bought a new position in PennyMac Mortgage Investment Trust in the 2nd quarter worth about $232,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Analysts Set New Price Targets

Separately, Wedbush restated a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust currently has an average rating of “Moderate Buy” and an average target price of $15.17.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT opened at $13.55 on Friday. The company has a market cap of $1.18 billion, a PE ratio of 9.96 and a beta of 1.50. 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 stock has a 50-day moving average price of $13.60 and a 200-day moving average price of $13.80. 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 quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $80.86 million for the quarter, compared to the consensus estimate of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same quarter last year, the business posted $0.51 EPS. As a group, equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, December 27th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.81%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 117.65%.

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.