ClearAlpha Technologies LP Sells 9,154 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

ClearAlpha Technologies LP trimmed its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 17.6% in the third quarter, Holdings Channel.com reports. The firm owned 42,747 shares of the real estate investment trust’s stock after selling 9,154 shares during the period. ClearAlpha Technologies LP’s holdings in PennyMac Mortgage Investment Trust were worth $610,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Simplify Asset Management Inc. acquired a new stake in PennyMac Mortgage Investment Trust in the third quarter worth $143,000. Aigen Investment Management LP acquired a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter worth about $152,000. Allspring Global Investments Holdings LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the 2nd quarter valued at about $177,000. Caprock Group LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 9.3% during the 3rd quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock valued at $195,000 after purchasing an additional 1,156 shares in the last quarter. Finally, Caxton Associates LP acquired a new position in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $232,000. 67.38% of the stock is owned by institutional investors.

PennyMac Mortgage Investment Trust Stock Performance

PMT opened at $13.59 on Monday. PennyMac Mortgage Investment Trust has a 52-week low of $12.81 and a 52-week high of $15.89. The firm has a market capitalization of $1.18 billion, a PE ratio of 9.99 and a beta of 1.51. The business’s 50-day simple moving average is $13.74 and its 200 day simple moving average is $13.83. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $80.86 million for the quarter, compared to analyst estimates of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same quarter in the prior year, the business posted $0.51 EPS. As a group, sell-side analysts expect that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 11.77%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 117.65%.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and an average target price of $14.93.

Insider Activity

In other news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total transaction of $518,510.10. Following the completion of the transaction, the director now directly owns 49,114 shares in the company, valued at approximately $688,087.14. This represents a 42.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.89% of the company’s stock.

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.