Raymond James Financial Services Advisors Inc. Has $553,000 Stock Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Raymond James Financial Services Advisors Inc. raised its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 45.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,021 shares of the real estate investment trust’s stock after buying an additional 11,501 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $553,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PMT. Envestnet Asset Management Inc. acquired a new stake in PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $213,000. MAS Advisors LLC grew its holdings in PennyMac Mortgage Investment Trust by 158.9% in the 1st quarter. MAS Advisors LLC now owns 53,037 shares of the real estate investment trust’s stock valued at $895,000 after buying an additional 32,549 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in PennyMac Mortgage Investment Trust by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,113,026 shares of the real estate investment trust’s stock valued at $18,800,000 after buying an additional 30,302 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in PennyMac Mortgage Investment Trust by 3.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust’s stock valued at $548,000 after buying an additional 1,137 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in PennyMac Mortgage Investment Trust by 36.9% in the 1st quarter. MetLife Investment Management LLC now owns 50,826 shares of the real estate investment trust’s stock valued at $858,000 after buying an additional 13,710 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Insider Buying and Selling

In related news, Director Doug Jones sold 7,810 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the completion of the sale, the director now directly owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PMT has been the topic of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday. Deutsche Bank Aktiengesellschaft started coverage on PennyMac Mortgage Investment Trust in a research report on Wednesday, January 10th. They issued a “hold” rating and a $15.00 price objective for the company. Finally, B. Riley raised their price objective on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.58.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $13.28 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market capitalization of $1.15 billion, a PE ratio of 8.25 and a beta of 1.48. PennyMac Mortgage Investment Trust has a one year low of $10.52 and a one year high of $15.89. The business has a 50 day simple moving average of $14.06 and a 200 day simple moving average of $13.89.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 12.05%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 99.38%.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.