PennyMac Mortgage Investment Trust (NYSE:PMT) Holdings Cut by Raymond James & Associates

Raymond James & Associates lowered its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,493 shares of the real estate investment trust’s stock after selling 3,751 shares during the period. Raymond James & Associates’ holdings in PennyMac Mortgage Investment Trust were worth $620,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PMT. SG Americas Securities LLC bought a new position in PennyMac Mortgage Investment Trust in the third quarter worth about $613,000. Oak Thistle LLC acquired a new position in shares of PennyMac Mortgage Investment Trust during the third quarter valued at approximately $125,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of PennyMac Mortgage Investment Trust by 4.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 646,236 shares of the real estate investment trust’s stock valued at $8,013,000 after acquiring an additional 28,370 shares during the period. Inspire Investing LLC acquired a new position in shares of PennyMac Mortgage Investment Trust during the third quarter valued at approximately $306,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 16.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 1,115 shares during the period. Institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PMT. JMP Securities reiterated a “market outperform” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th. B. Riley lifted their price target on shares of 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, January 10th. They issued a “hold” rating and a $15.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.58.

Insider Buying and Selling

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

PennyMac Mortgage Investment Trust Trading Down 1.4 %

PennyMac Mortgage Investment Trust stock opened at $13.72 on Thursday. The company has a 50 day moving average price of $14.07 and a 200 day moving average price of $13.95. PennyMac Mortgage Investment Trust has a 52 week low of $10.52 and a 52 week high of $15.89. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 8.52 and a beta of 1.48.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.66%. The ex-dividend date is Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is 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.