Comerica Bank Takes $1.18 Million Position in PennyMac Mortgage Investment Trust (PMT)

Comerica Bank acquired a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 66,543 shares of the real estate investment trust’s stock, valued at approximately $1,178,000. Comerica Bank owned approximately 0.11% of PennyMac Mortgage Investment Trust at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Rhumbline Advisers boosted its stake in PennyMac Mortgage Investment Trust by 111.8% during the first quarter. Rhumbline Advisers now owns 148,085 shares of the real estate investment trust’s stock worth $2,670,000 after acquiring an additional 78,158 shares in the last quarter. Algebris UK Ltd bought a new position in shares of PennyMac Mortgage Investment Trust in the first quarter worth approximately $5,779,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $288,000. Xact Kapitalforvaltning AB bought a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $323,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $526,000. 70.63% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on PMT. Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Saturday, May 12th. ValuEngine downgraded shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd.

In related news, CEO David Spector sold 18,846 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $17.30, for a total transaction of $326,035.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven Richard Bailey sold 8,490 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $17.33, for a total transaction of $147,131.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,818 shares of company stock worth $602,718. 2.46% of the stock is owned by insiders.

Shares of NYSE PMT opened at $18.62 on Friday. The company has a market capitalization of $1.13 billion, a PE ratio of 14.32 and a beta of 0.39. PennyMac Mortgage Investment Trust has a 52-week low of $14.87 and a 52-week high of $18.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.57 and a current ratio of 0.57.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Thursday, May 3rd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. The firm had revenue of $75.67 million for the quarter, compared to the consensus estimate of $80.20 million. PennyMac Mortgage Investment Trust had a net margin of 33.00% and a return on equity of 7.28%. During the same quarter in the prior year, the firm posted $0.47 earnings per share. research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.66 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 27th. Investors of record on Friday, April 13th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, April 12th. This represents a $1.88 dividend on an annualized basis and a yield of 10.10%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 144.62%.

About PennyMac Mortgage Investment Trust

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).

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

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