Sterling Capital Management LLC Takes Position in PennyMac Mortgage Investment Trust (PMT)

Sterling Capital Management LLC purchased a new position in PennyMac Mortgage Investment Trust (NYSE:PMT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 54,990 shares of the real estate investment trust’s stock, valued at approximately $1,113,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new position in shares of PennyMac Mortgage Investment Trust in the second quarter worth approximately $208,000. Centaurus Financial Inc. bought a new position in shares of PennyMac Mortgage Investment Trust in the second quarter worth approximately $220,000. Nisa Investment Advisors LLC bought a new position in shares of PennyMac Mortgage Investment Trust in the second quarter worth approximately $232,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of PennyMac Mortgage Investment Trust in the second quarter worth approximately $245,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of PennyMac Mortgage Investment Trust in the second quarter worth approximately $281,000. Institutional investors and hedge funds own 68.19% of the company’s stock.

In other PennyMac Mortgage Investment Trust news, Director Marianne Sullivan acquired 3,015 shares of the stock in a transaction on Friday, August 31st. The stock was acquired at an average price of $19.95 per share, for a total transaction of $60,149.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Dufauchard Jr. Preston sold 5,300 shares of the stock in a transaction on Monday, August 13th. The shares were sold at an average price of $19.52, for a total transaction of $103,456.00. The disclosure for this sale can be found here. 2.46% of the stock is currently owned by corporate insiders.

Shares of NYSE:PMT opened at $20.80 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.54 and a quick ratio of 0.60. PennyMac Mortgage Investment Trust has a fifty-two week low of $15.09 and a fifty-two week high of $20.91. The firm has a market cap of $1.27 billion, a P/E ratio of 11.80, a P/E/G ratio of 2.67 and a beta of 0.39.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.25. PennyMac Mortgage Investment Trust had a net margin of 40.40% and a return on equity of 10.64%. The firm had revenue of $108.50 million during the quarter, compared to analyst estimates of $121.87 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. PennyMac Mortgage Investment Trust’s revenue for the quarter was up 43.1% on a year-over-year basis. Research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.63 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Investors of record on Monday, October 15th were given a dividend of $0.47 per share. The ex-dividend date was Friday, October 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.04%. PennyMac Mortgage Investment Trust’s dividend payout ratio is 144.62%.

A number of equities analysts recently weighed in on PMT shares. ValuEngine upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Credit Suisse Group upped their target price on shares of PennyMac Mortgage Investment Trust from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 25th. Wells Fargo & Co started coverage on shares of PennyMac Mortgage Investment Trust in a research report on Tuesday, September 18th. They set a “market perform” rating and a $20.00 target price for the company. JMP Securities upped their target price on shares of PennyMac Mortgage Investment Trust from $20.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Friday, November 2nd. Finally, Barclays upped their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $20.40.

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PennyMac Mortgage Investment Trust Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

See Also: Hedge Funds Explained

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Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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