Charles Schwab Investment Management Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 4.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,360,869 shares of the real estate investment trust's stock after buying an additional 61,287 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.57% of PennyMac Mortgage Investment Trust worth $20,345,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. National Bank of Canada FI lifted its stake in PennyMac Mortgage Investment Trust by 94.9% during the 4th quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 1,603 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in PennyMac Mortgage Investment Trust by 16.5% during the 3rd 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 in the last quarter. Essex Financial Services Inc. bought a new position in PennyMac Mortgage Investment Trust during the 4th quarter valued at $150,000. Kestra Private Wealth Services LLC bought a new position in PennyMac Mortgage Investment Trust during the 4th quarter valued at $183,000. Finally, Sherbrooke Park Advisers LLC bought a new position in PennyMac Mortgage Investment Trust during the 3rd quarter valued at $157,000. 67.38% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. Piper Sandler reaffirmed a "neutral" rating and set a $15.00 target price (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, May 9th. Wedbush reissued a "neutral" rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Monday, April 29th. JMP Securities reissued a "market outperform" rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Finally, B. Riley lifted their price objective on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, February 7th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $14.92.
Get Our Latest Analysis on PennyMac Mortgage Investment Trust
Insider Activity
In other news, Director Doug Jones sold 7,810 shares of PennyMac Mortgage Investment Trust stock in a transaction dated 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 owns 53,311 shares in the company, valued at approximately $764,479.74. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.89% of the company's stock.
PennyMac Mortgage Investment Trust Price Performance
NYSE PMT traded up $0.15 during trading hours on Friday, hitting $13.57. The company had a trading volume of 819,301 shares, compared to its average volume of 915,129. PennyMac Mortgage Investment Trust has a 52 week low of $10.52 and a 52 week high of $15.89. The firm has a 50 day simple moving average of $14.25 and a 200 day simple moving average of $14.33. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.05 and a beta of 1.47.
PennyMac Mortgage Investment Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.79%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is presently 106.67%.
About PennyMac Mortgage Investment Trust
(Free Report)
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.
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