Jenkins Wealth purchased a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating ) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 79,393 shares of the real estate investment trust’s stock, valued at approximately $984,000. Jenkins Wealth owned approximately 0.09% of PennyMac Mortgage Investment Trust as of its most recent filing with the Securities and Exchange Commission (SEC).
→ “Prepare for five years of famine” (From Legacy Research)
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PMT. Centaurus Financial Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 8.2% during the third quarter. Centaurus Financial Inc. now owns 236,053 shares of the real estate investment trust’s stock valued at $2,781,000 after acquiring an additional 17,875 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in PennyMac Mortgage Investment Trust during the third quarter valued at $1,047,000. Teacher Retirement System of The State of Kentucky bought a new stake in PennyMac Mortgage Investment Trust during the third quarter valued at $346,000. State Street Corp boosted its holdings in PennyMac Mortgage Investment Trust by 0.4% during the third quarter. State Street Corp now owns 3,499,296 shares of the real estate investment trust’s stock valued at $41,222,000 after buying an additional 13,287 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in PennyMac Mortgage Investment Trust by 3.6% in the third quarter. Thrivent Financial for Lutherans now owns 93,625 shares of the real estate investment trust’s stock valued at $1,103,000 after buying an additional 3,284 shares during the last quarter. 71.21% of the shares are currently owned by hedge funds and other institutional investors.
Insiders place their bets
In other PennyMac Mortgage Investment Trust news, insider Doug Jones sold 17,559 shares of the stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $13.51, for a total value of $237,222.09. Following the sale, the insider now directly owns 66,547 shares in the company, valued at $899,049.97. The transaction was disclosed in a document filed with the SEC, which is available on the SEC’s website. In related news, insider Doug Jones sold 17,559 shares of the firm’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $13.51, for a total transaction of $237,222.09. Following the sale, the insider now directly owns 66,547 shares in the company, valued at $899,049.97. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marian Sullivan acquired 9,900 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The shares were bought at an average price of $14.00 per share, for a total transaction of $138,600.00. Following the completion of the acquisition, the director now owns 11,600 shares of the company’s stock, valued at $162,400. Disclosure of this purchase can be found here. Over the last three months, insiders have sold 20,765 shares of company stock worth $279,988. Company insiders own 0.78% of the company’s shares.
PennyMac Mortgage Investment Trust trades down 5.3%
Shares of NYSE PMT opened at $11.36 on Friday. The company’s 50-day simple moving average is $13.84, and its 200-day simple moving average is $13.74. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.78 and a fifty-two week high of $17.24. The firm has a market cap of $1.01 billion, a P/E ratio of -9.02 and a beta of 1.43. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.39, and a quick ratio of 0.39.
PennyMac Mortgage Investment Trust Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be given a $0.40 dividend. The ex-dividend date is Thursday, April 13th. This represents a $1.60 annual dividend and a yield of 14.08%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently -126.98%.
Promote and demote an analyst
A number of brokerages recently issued reports on PMT. Barclays reduced their price objective on shares of PennyMac Mortgage Investment Trust from $18.00 to $14.00 in a report on Friday, January 6th. StockNews.com lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Friday, March 10th. Piper Sandler cut shares of PennyMac Mortgage Investment Trust from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $15.00 in a report on Monday, February 6th. They noted that the move was a call for evaluation. BTIG Research lowered shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “neutral” rating in a report on Friday, February 17th. Finally, Jonestrading lowered shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Wednesday, November 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and a consensus target price of $15.57, according to MarketBeat.com.
PennyMac Mortgage Investment Trust Company Profile
(Get Rating)
PennyMac Mortgage Investment Trust is a financial company that invests primarily in residential mortgage loans and mortgage-related assets. It operates through the following segments: Correspondent Production, Credit Sensitive Strategies, Interest Sensitive Strategies and Corporate Activities. The Correspondent Origination segment is engaged in the purchase, pooling and resale of newly originated mortgage loans of prime credit quality, either directly or in the form of mortgage-backed securities in the capital markets.
Featured stories
Want to see what other hedge funds are holding PMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennyMac Mortgage Investment Trust (NYSE: PMT – Get Rating ).
This instant news alert is generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider PennyMac Mortgage Investment Trust, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients daily. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now, before the broader market takes a nosedive … and PennyMac Mortgage Investment Trust wasn’t on the list.
While PennyMac Mortgage Investment Trust currently has a “Hold” rating among analysts, the top-rated analysts think these five stocks are better buys.
Check out the five stocks here
