Comerica Bank Sells 5,458 Shares of PennyMac Mortgage Investment Trust (PMT)

Comerica Bank lessened its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,089 shares of the real estate investment trust’s stock after selling 5,458 shares during the period. Comerica Bank’s holdings in PennyMac Mortgage Investment Trust were worth $1,149,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Centaurus Financial Inc. purchased a new position in PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $220,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $245,000. Crossmark Global Holdings Inc. purchased a new position in PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $281,000. Raymond James & Associates boosted its position in PennyMac Mortgage Investment Trust by 42.2% in the 2nd quarter. Raymond James & Associates now owns 14,925 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 4,431 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $340,000. 68.10% of the stock is owned by institutional investors.

PMT has been the subject of several recent research reports. ValuEngine raised shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. 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 price objective for the company. Credit Suisse Group lifted their price objective 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. Finally, JMP Securities lifted their price objective 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. PennyMac Mortgage Investment Trust has an average rating of “Buy” and a consensus price target of $20.40.

PennyMac Mortgage Investment Trust stock opened at $21.29 on Friday. The firm has a market cap of $1.27 billion, a PE ratio of 16.38, a PEG ratio of 2.49 and a beta of 0.41. PennyMac Mortgage Investment Trust has a 12-month low of $15.44 and a 12-month high of $21.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.54 and a quick ratio of 0.54.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.25. The business had revenue of $108.50 million during the quarter, compared to analysts’ expectations of $121.87 million. PennyMac Mortgage Investment Trust had a net margin of 40.40% and a return on equity of 10.64%. The company’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 EPS. As a group, sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.68 earnings per share for the current year.

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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).

Further Reading: SEC Filing

Want to see what other hedge funds are holding PMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennyMac Mortgage Investment Trust (NYSE:PMT).

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

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