GSA Capital Partners LLP Makes New Investment in PennyMac Mortgage Investment Trust $PMT

GSA Capital Partners LLP bought a new stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 56,335 shares of the real estate investment trust’s stock, valued at approximately $635,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PMT. Bessemer Group Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 142.1% in the first quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 1,285 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth about $33,000. Clearstead Advisors LLC increased its holdings in PennyMac Mortgage Investment Trust by 184.3% in the fourth quarter. Clearstead Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 1,815 shares during the last quarter. Advisory Services Network LLC acquired a new position in PennyMac Mortgage Investment Trust in the third quarter worth approximately $50,000. Finally, Russell Investments Group Ltd. raised its position in PennyMac Mortgage Investment Trust by 49.0% during the second quarter. Russell Investments Group Ltd. now owns 4,861 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 1,599 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on PMT shares. Zacks Research cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Piper Sandler reduced their price objective on shares of PennyMac Mortgage Investment Trust from $11.50 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Wells Fargo & Company decreased their price objective on shares of PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, July 31st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of PennyMac Mortgage Investment Trust in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.08.

PennyMac Mortgage Investment Trust Price Performance

Shares of PennyMac Mortgage Investment Trust stock opened at $9.40 on Friday. The firm has a fifty day simple moving average of $10.00 and a 200-day simple moving average of $10.98. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 9.18. PennyMac Mortgage Investment Trust has a 1-year low of $9.05 and a 1-year high of $13.81. The stock has a market capitalization of $819.70 million, a price-to-earnings ratio of 6.62, a PEG ratio of 0.71 and a beta of 1.14.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.07). PennyMac Mortgage Investment Trust had a return on equity of 12.50% and a net margin of 47.79%.The firm had revenue of ($46.00) million for the quarter, compared to the consensus estimate of $93.93 million. On average, sell-side analysts expect that PennyMac Mortgage Investment Trust will post 1.03 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Thursday, July 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $1.60 dividend on an annualized basis and a yield of 17.0%. PennyMac Mortgage Investment Trust’s payout ratio is currently 112.68%.

PennyMac Mortgage Investment Trust Profile

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.