Sandy Spring Bank Takes Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Sandy Spring Bank acquired a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) in the 4th quarter, Holdings Channel reports. The fund acquired 3,907 shares of the real estate investment trust’s stock, valued at approximately $49,000.

Several other institutional investors and hedge funds have also made changes to their positions in PMT. Caprock Group LLC boosted its holdings in PennyMac Mortgage Investment Trust by 9.3% during the third quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock worth $195,000 after buying an additional 1,156 shares in the last quarter. Intech Investment Management LLC boosted its holdings in PennyMac Mortgage Investment Trust by 126.9% during the third quarter. Intech Investment Management LLC now owns 38,944 shares of the real estate investment trust’s stock worth $555,000 after buying an additional 21,777 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in PennyMac Mortgage Investment Trust by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,456,613 shares of the real estate investment trust’s stock worth $20,771,000 after buying an additional 18,368 shares in the last quarter. Citigroup Inc. boosted its holdings in PennyMac Mortgage Investment Trust by 43.2% during the third quarter. Citigroup Inc. now owns 407,660 shares of the real estate investment trust’s stock worth $5,813,000 after buying an additional 123,079 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in PennyMac Mortgage Investment Trust by 16.2% during the third quarter. Penserra Capital Management LLC now owns 91,855 shares of the real estate investment trust’s stock worth $1,309,000 after buying an additional 12,806 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated a “market outperform” rating and set a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust has a consensus rating of “Moderate Buy” and a consensus target price of $15.20.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of PennyMac Mortgage Investment Trust stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total transaction of $210,685.00. Following the completion of the sale, the director now owns 64,082 shares of the company’s stock, valued at $929,189. This trade represents a 18.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Trading Down 0.9 %

NYSE PMT opened at $14.62 on Friday. PennyMac Mortgage Investment Trust has a twelve month low of $11.77 and a twelve month high of $15.22. 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 stock has a market cap of $1.27 billion, a price-to-earnings ratio of 10.99 and a beta of 1.51. The firm’s 50 day moving average price is $13.71 and its two-hundred day moving average price is $13.60.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping 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%. Equities analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.94%. The ex-dividend date of this dividend is Friday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) 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.