Corient Private Wealth LP Buys Shares of 146,387 PennyMac Mortgage Investment Trust $PMT

Corient Private Wealth LP bought a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 146,387 shares of the real estate investment trust’s stock, valued at approximately $1,651,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PMT. Bessemer Group Inc. lifted its position in shares of PennyMac Mortgage Investment Trust by 142.1% during the first quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,285 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $33,000. Clearstead Advisors LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 184.3% in the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,815 shares in the last quarter. Allworth Financial LP purchased a new stake in PennyMac Mortgage Investment Trust during the 2nd quarter worth approximately $33,000. Finally, Advisory Services Network LLC purchased a new stake in PennyMac Mortgage Investment Trust during the 3rd quarter worth approximately $50,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Stock Up 1.3%

PMT stock opened at $9.63 on Friday. The company’s 50 day moving average price is $9.83 and its 200 day moving average price is $10.78. The firm has a market capitalization of $839.74 million, a price-to-earnings ratio of 6.78, a PEG ratio of 0.71 and a beta of 1.14. PennyMac Mortgage Investment Trust has a fifty-two week low of $9.05 and a fifty-two week high of $13.81. The company has a debt-to-equity ratio of 9.18, a quick ratio of 1.46 and a current ratio of 1.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). PennyMac Mortgage Investment Trust had a return on equity of 12.50% and a net margin of 47.79%.The firm had revenue of ($46.00) million during the quarter, compared to analysts’ expectations of $93.93 million. On average, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.03 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Thursday, October 8th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 16.6%. The ex-dividend date is Thursday, October 8th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 112.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PMT shares. Zacks Research lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. Piper Sandler dropped their price target on shares of PennyMac Mortgage Investment Trust from $11.50 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Wells Fargo & Company cut their price objective on PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. UBS Group reduced their price objective on PennyMac Mortgage Investment Trust from $11.25 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.50.

PennyMac Mortgage Investment Trust Profile

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.