Powell Investment Advisors LLC acquired a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,441 shares of the real estate investment trust’s stock, valued at approximately $171,000.
Other large investors have also made changes to their positions in the company. CWM LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 199.7% in the 3rd quarter. CWM LLC now owns 1,801 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 1,200 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of PennyMac Mortgage Investment Trust during the third quarter worth $44,000. Private Advisor Group LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the second quarter worth $87,000. Bank of Montreal Can raised its position in PennyMac Mortgage Investment Trust by 1,107.4% during the 2nd quarter. Bank of Montreal Can now owns 9,575 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 8,782 shares during the last quarter. Finally, Paradigm Financial Advisors LLC bought a new position in PennyMac Mortgage Investment Trust during the 3rd quarter worth $166,000. Hedge funds and other institutional investors own 75.40% of the company’s stock.
PMT opened at $17.28 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.51 and a quick ratio of 0.51. The stock’s 50 day simple moving average is $17.61 and its 200 day simple moving average is $17.32. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -78.55 and a beta of 1.08. PennyMac Mortgage Investment Trust has a 1 year low of $3.50 and a 1 year high of $23.79.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, December 30th. This represents a $1.88 annualized dividend and a yield of 10.88%. PennyMac Mortgage Investment Trust’s payout ratio is currently 77.69%.
In other news, insider Doug Jones sold 9,000 shares of the stock in a transaction dated Tuesday, December 8th. The shares were sold at an average price of $17.81, for a total transaction of $160,290.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.63% of the stock is owned by company insiders.
PMT has been the topic of a number of recent analyst reports. BidaskClub lowered PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, January 6th. BTIG Research assumed coverage on shares of PennyMac Mortgage Investment Trust in a research report on Monday, November 23rd. They set a “neutral” rating for the company. Barclays boosted their target price on shares of PennyMac Mortgage Investment Trust from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 9th. Credit Suisse Group reiterated a “buy” rating on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, October 7th. Finally, Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Friday, December 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $19.06.
About PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in mortgage-related assets in the United States. The company operates through Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, including firm commitment to purchase CRT securities, distressed loans, real estate, and non-agency subordinated bonds.
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