Longboard Asset Management LP Buys New Stake in PennyMac Mortgage Investment Trust (NYSE:PMT)

Longboard Asset Management LP bought a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,684 shares of the real estate investment trust’s stock, valued at approximately $160,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PMT. Millennium Management LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 223.1% in the second quarter. Millennium Management LLC now owns 232,576 shares of the real estate investment trust’s stock valued at $3,198,000 after purchasing an additional 160,595 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of PennyMac Mortgage Investment Trust by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 43,720 shares of the real estate investment trust’s stock valued at $601,000 after purchasing an additional 1,827 shares in the last quarter. Truist Financial Corp purchased a new position in PennyMac Mortgage Investment Trust during the second quarter worth $407,000. Cetera Investment Advisers boosted its stake in PennyMac Mortgage Investment Trust by 2.2% during the second quarter. Cetera Investment Advisers now owns 72,125 shares of the real estate investment trust’s stock worth $992,000 after buying an additional 1,553 shares during the period. Finally, SG Americas Securities LLC purchased a new position in PennyMac Mortgage Investment Trust during the third quarter worth $599,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on PMT shares. Wedbush reaffirmed a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. JMP Securities reaffirmed a “market outperform” rating and set a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

PennyMac Mortgage Investment Trust Stock Up 1.3 %

Shares of PMT opened at $13.52 on Wednesday. The firm has a market capitalization of $1.17 billion, a P/E ratio of 10.17 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $15.22. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average price of $12.97 and a 200-day moving average price of $13.50.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. Equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.53 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, December 27th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.83%. The ex-dividend date of this dividend was Friday, December 27th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 120.30%.

PennyMac Mortgage Investment Trust Profile

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.