PennyMac Mortgage Investment Trust $PMT Holdings Reduced by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL decreased its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 93.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,549 shares of the real estate investment trust’s stock after selling 155,435 shares during the period. Tudor Investment Corp ET AL’s holdings in PennyMac Mortgage Investment Trust were worth $142,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. CWM LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 57.7% in the third quarter. CWM LLC now owns 2,943 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 1,077 shares during the period. Advisory Services Network LLC bought a new position in PennyMac Mortgage Investment Trust during the third quarter valued at about $50,000. KERR FINANCIAL PLANNING Corp acquired a new position in PennyMac Mortgage Investment Trust during the third quarter worth about $52,000. Russell Investments Group Ltd. raised its position in PennyMac Mortgage Investment Trust by 49.0% in the second quarter. Russell Investments Group Ltd. now owns 4,861 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 1,599 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in PennyMac Mortgage Investment Trust in the second quarter worth about $129,000. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PMT has been the subject of several research reports. Citigroup restated an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 22nd. Piper Sandler dropped their target price on shares of PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a “neutral” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods raised shares of PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 target price for the company in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Friday, March 27th. Finally, Citizens Jmp decreased their target price on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating for the company in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average target price of $13.60.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $11.97 on Friday. The business’s 50-day simple moving average is $12.11 and its 200 day simple moving average is $12.39. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 6.55. PennyMac Mortgage Investment Trust has a 12-month low of $11.15 and a 12-month high of $14.61. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 0.57 and a beta of 1.24.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Thursday, January 29th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $0.15 million for the quarter, compared to analysts’ expectations of $96.96 million. PennyMac Mortgage Investment Trust had a return on equity of 9.53% and a net margin of 41.59%. As a group, research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Thursday, April 9th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, April 9th. This represents a $1.60 dividend on an annualized basis and a yield of 13.4%. PennyMac Mortgage Investment Trust’s payout ratio is currently 163.27%.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.