Stifel Financial Corp Increases Stock Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

Stifel Financial Corp boosted its stake in PennyMac Mortgage Investment Trust (NYSE:PMT) by 169.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,301 shares of the real estate investment trust’s stock after acquiring an additional 21,580 shares during the period. Stifel Financial Corp’s holdings in PennyMac Mortgage Investment Trust were worth $489,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PMT. HighTower Advisors LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 56.1% during the 3rd quarter. HighTower Advisors LLC now owns 32,023 shares of the real estate investment trust’s stock valued at $454,000 after purchasing an additional 11,509 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in PennyMac Mortgage Investment Trust by 90.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,436 shares of the real estate investment trust’s stock worth $2,487,000 after buying an additional 82,735 shares during the period. Penserra Capital Management LLC lifted its holdings in PennyMac Mortgage Investment Trust by 16.2% in the third quarter. Penserra Capital Management LLC now owns 91,855 shares of the real estate investment trust’s stock worth $1,309,000 after buying an additional 12,806 shares during the period. Citigroup Inc. boosted its position in PennyMac Mortgage Investment Trust by 43.2% during the 3rd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,456,613 shares of the real estate investment trust’s stock worth $20,771,000 after acquiring an additional 18,368 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.17.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE PMT opened at $13.00 on Friday. The company has a 50 day simple moving average of $13.41 and a two-hundred day simple moving average of $13.76. PennyMac Mortgage Investment Trust has a fifty-two week low of $12.80 and a fifty-two week high of $15.89. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 9.56 and a beta of 1.50. 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 (NYSE:PMT) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. The company had revenue of $80.86 million for the quarter, compared to the consensus estimate of $93.75 million. During the same period last year, the business earned $0.51 EPS. Analysts expect that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, December 27th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 12.31%. The ex-dividend date of this dividend 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.