Inspire Investing LLC Acquires 3,160 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Inspire Investing LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 12.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 28,724 shares of the real estate investment trust’s stock after acquiring an additional 3,160 shares during the period. Inspire Investing LLC’s holdings in PennyMac Mortgage Investment Trust were worth $410,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Roble Belko & Company Inc bought a new position in PennyMac Mortgage Investment Trust during the first quarter worth about $29,000. EntryPoint Capital LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 251.8% during the 1st quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 5,015 shares during the period. Entropy Technologies LP acquired a new stake in PennyMac Mortgage Investment Trust in the 1st quarter valued at $149,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in PennyMac Mortgage Investment Trust in the 1st quarter valued at $157,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in PennyMac Mortgage Investment Trust in the second quarter valued at $177,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PennyMac Mortgage Investment Trust stock opened at $14.06 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a 50 day simple moving average of $14.02 and a 200 day simple moving average of $13.99. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.52 and a fifty-two week high of $15.89. The firm has a market cap of $1.22 billion, a P/E ratio of 9.31 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.17). PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. The firm had revenue of $71.20 million during the quarter, compared to analyst estimates of $90.26 million. During the same period last year, the business posted $0.16 earnings per share. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 11.38%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 105.96%.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at $688,087.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have acquired 2,879 shares of company stock worth $39,028. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PMT. JMP Securities lifted their price objective on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Wedbush restated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, July 25th. Keefe, Bruyette & Woods decreased their price objective on shares of 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. Piper Sandler cut their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, B. Riley reissued a “buy” rating and issued a $16.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.93.

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.