UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 82,735 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 90.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 174,436 shares of the real estate investment trust’s stock after buying an additional 82,735 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.20% of PennyMac Mortgage Investment Trust worth $2,487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PMT. Principal Financial Group Inc. increased its position 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 valued at $7,221,000 after purchasing an additional 77,955 shares during the last quarter. Citigroup Inc. grew its position in PennyMac Mortgage Investment Trust by 43.2% during the third quarter. Citigroup Inc. now owns 407,660 shares of the real estate investment trust’s stock valued at $5,813,000 after acquiring an additional 123,079 shares during the last quarter. Wolverine Asset Management LLC grew its position in PennyMac Mortgage Investment Trust by 105.8% during the third quarter. Wolverine Asset Management LLC now owns 461,323 shares of the real estate investment trust’s stock valued at $6,578,000 after acquiring an additional 237,210 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 1,607.2% during the third quarter. International Assets Investment Management LLC now owns 367,908 shares of the real estate investment trust’s stock worth $5,246,000 after acquiring an additional 346,358 shares in the last quarter. Finally, Dana Investment Advisors Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 40.7% in the 2nd 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 during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wedbush reaffirmed a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.17.

PennyMac Mortgage Investment Trust Stock Performance

NYSE:PMT opened at $13.55 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41. PennyMac Mortgage Investment Trust has a fifty-two week low of $12.81 and a fifty-two week high of $15.89. The firm has a market cap of $1.18 billion, a PE ratio of 9.96 and a beta of 1.50. The business has a 50 day moving average price of $13.60 and a 200-day moving average price of $13.80.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced 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 firm had revenue of $80.86 million during the quarter, compared to the consensus estimate 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 period last year, the business earned $0.51 EPS. Equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

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

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.