Perennial Investment Advisors LLC Has $375,000 Stock Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Perennial Investment Advisors LLC lowered its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMTGet Rating) by 21.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,088 shares of the real estate investment trust’s stock after selling 5,933 shares during the period. Perennial Investment Advisors LLC’s holdings in PennyMac Mortgage Investment Trust were worth $375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in PennyMac Mortgage Investment Trust by 6.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,022,501 shares of the real estate investment trust’s stock worth $87,040,000 after acquiring an additional 305,375 shares during the period. Invesco Ltd. increased its position in PennyMac Mortgage Investment Trust by 98.7% in the fourth quarter. Invesco Ltd. now owns 2,230,488 shares of the real estate investment trust’s stock worth $38,654,000 after buying an additional 1,107,783 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in PennyMac Mortgage Investment Trust by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,029,898 shares of the real estate investment trust’s stock worth $17,849,000 after buying an additional 40,236 shares during the last quarter. Alliancebernstein L.P. increased its position in PennyMac Mortgage Investment Trust by 10.9% in the fourth quarter. Alliancebernstein L.P. now owns 753,102 shares of the real estate investment trust’s stock worth $13,051,000 after buying an additional 73,750 shares during the last quarter. Finally, Greenwich Investment Management Inc. purchased a new stake in PennyMac Mortgage Investment Trust in the fourth quarter worth $9,430,000. Institutional investors own 70.77% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Up 1.8 %

PennyMac Mortgage Investment Trust stock opened at $15.48 on Friday. PennyMac Mortgage Investment Trust has a 52 week low of $11.64 and a 52 week high of $20.72. The business has a 50-day simple moving average of $14.59 and a 200 day simple moving average of $15.59. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.52 and a current ratio of 0.45.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 28th. Investors of record on Thursday, July 14th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 12.14%. The ex-dividend date was Wednesday, July 13th. PennyMac Mortgage Investment Trust’s payout ratio is -97.41%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Jonestrading decreased their target price on PennyMac Mortgage Investment Trust from $18.50 to $18.00 in a research report on Friday, May 6th. B. Riley reduced their price target on PennyMac Mortgage Investment Trust from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, July 1st. TheStreet cut PennyMac Mortgage Investment Trust from a “c-” rating to a “d” rating in a research report on Friday, May 6th. JMP Securities reduced their price target on PennyMac Mortgage Investment Trust from $22.00 to $18.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 26th. Finally, Piper Sandler reduced their price target on PennyMac Mortgage Investment Trust from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust presently has an average rating of “Moderate Buy” and a consensus price target of $17.97.

PennyMac Mortgage Investment Trust Profile

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PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

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

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