PennyMac Mortgage Investment Trust $PMT Stock Position Lifted by First Trust Advisors LP

First Trust Advisors LP boosted its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 389.6% in the first quarter, HoldingsChannel.com reports. The firm owned 408,785 shares of the real estate investment trust’s stock after acquiring an additional 325,299 shares during the period. First Trust Advisors LP’s holdings in PennyMac Mortgage Investment Trust were worth $4,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. bought a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at about $867,000. Intech Investment Management LLC grew its position in PennyMac Mortgage Investment Trust by 319.3% in the 4th quarter. Intech Investment Management LLC now owns 315,415 shares of the real estate investment trust’s stock worth $3,958,000 after purchasing an additional 240,197 shares during the last quarter. Sharpepoint LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $905,000. Collar Capital Management LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 1.2% during the fourth quarter. Collar Capital Management LLC now owns 90,615 shares of the real estate investment trust’s stock valued at $1,137,000 after buying an additional 1,100 shares during the last quarter. Finally, AlphaCore Capital LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 15.6% during the fourth quarter. AlphaCore Capital LLC now owns 27,351 shares of the real estate investment trust’s stock valued at $343,000 after buying an additional 3,698 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Up 1.0%

Shares of PMT opened at $9.53 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.39 and a current ratio of 0.72. The company has a 50-day simple moving average of $10.17 and a 200-day simple moving average of $11.31. PennyMac Mortgage Investment Trust has a 52 week low of $9.05 and a 52 week high of $13.81. The firm has a market capitalization of $831.36 million, a P/E ratio of 6.71, a P/E/G ratio of 0.63 and a beta of 1.14.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). The business had revenue of ($46.00) million for the quarter, compared to analyst estimates of $93.93 million. PennyMac Mortgage Investment Trust had a return on equity of 12.50% and a net margin of 47.79%. On average, equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.12 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Thursday, July 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 16.8%. The ex-dividend date was Thursday, July 9th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 112.68%.

Wall Street Analyst Weigh In

PMT has been the topic of several analyst reports. Zacks Research cut PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $12.00 price target (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a research note on Friday, May 8th. Wall Street Zen lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Finally, Wells Fargo & Company lowered their target price on shares of PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.10.

PennyMac Mortgage Investment Trust Company Profile

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.