Everence Capital Management Inc. Reduces Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

Everence Capital Management Inc. decreased its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 12.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,660 shares of the real estate investment trust’s stock after selling 1,790 shares during the period. Everence Capital Management Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $181,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PMT. Quadrature Capital Ltd purchased a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at approximately $234,000. Van ECK Associates Corp grew its stake in shares of PennyMac Mortgage Investment Trust by 0.7% in the 1st quarter. Van ECK Associates Corp now owns 463,002 shares of the real estate investment trust’s stock valued at $6,797,000 after buying an additional 3,192 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of PennyMac Mortgage Investment Trust by 4.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 643,252 shares of the real estate investment trust’s stock valued at $9,443,000 after buying an additional 28,121 shares during the period. BNP Paribas Financial Markets grew its stake in shares of PennyMac Mortgage Investment Trust by 20.6% in the 1st quarter. BNP Paribas Financial Markets now owns 52,493 shares of the real estate investment trust’s stock valued at $771,000 after buying an additional 8,966 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 12.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 54,021 shares of the real estate investment trust’s stock valued at $793,000 after buying an additional 5,974 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 37,010 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the sale, the director now owns 49,114 shares in the company, valued at approximately $688,087.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders bought 2,879 shares of company stock worth $39,028. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on PMT shares. Wedbush restated a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, July 25th. Piper Sandler decreased their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. B. Riley restated a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. JMP Securities upped their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Five 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.93.

PennyMac Mortgage Investment Trust Trading Down 1.0 %

NYSE PMT opened at $13.67 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.33 and a quick ratio of 0.33. The firm’s fifty day moving average price is $14.04 and its 200 day moving average price is $13.98. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 9.05 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.17). PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. The business had revenue of $71.20 million for the quarter, compared to analysts’ expectations of $90.26 million. During the same period in the previous year, the business posted $0.16 earnings per share. On average, 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 disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.70%. The ex-dividend date of this dividend is Friday, October 11th. PennyMac Mortgage Investment Trust’s payout ratio is currently 105.96%.

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.