Wedbush Securities Inc. Raises Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Wedbush Securities Inc. boosted its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 41.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,125 shares of the real estate investment trust’s stock after purchasing an additional 22,150 shares during the period. Wedbush Securities Inc. owned approximately 0.09% of PennyMac Mortgage Investment Trust worth $958,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth about $5,212,000. K2 Principal Fund L.P. purchased a new position in PennyMac Mortgage Investment Trust in the 3rd quarter worth approximately $5,841,000. GraniteShares Advisors LLC bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $2,461,000. Raymond James Financial Inc. bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at approximately $1,300,000. Finally, Barclays PLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 218.7% during the third quarter. Barclays PLC now owns 148,734 shares of the real estate investment trust’s stock valued at $2,121,000 after purchasing an additional 102,067 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Doug Jones sold 14,530 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total value of $210,685.00. Following the sale, the director now directly owns 64,082 shares of the company’s stock, valued at $929,189. This represents a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $15.50 target price 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 given a buy rating to the company’s stock. Based on 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 Price Performance

Shares of PMT stock opened at $13.68 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market cap of $1.19 billion, a P/E ratio of 10.29 and a beta of 1.17. The business’s 50 day moving average price is $14.11 and its 200-day moving average price is $13.64. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $15.22.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the consensus estimate 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%. On average, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 11.69%. The ex-dividend date is Friday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 120.30%.

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.