Virtu Financial LLC Takes $419,000 Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Virtu Financial LLC purchased a new position in PennyMac Mortgage Investment Trust (NYSE:PMT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 33,241 shares of the real estate investment trust’s stock, valued at approximately $419,000.

Other institutional investors have also bought and sold shares of the company. Sandy Spring Bank bought a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at about $49,000. Amundi raised its position in shares of PennyMac Mortgage Investment Trust by 169.7% in the fourth quarter. Amundi now owns 41,977 shares of the real estate investment trust’s stock valued at $521,000 after purchasing an additional 26,411 shares during the period. Rialto Wealth Management LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at approximately $25,000. Raymond James Financial Inc. bought a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $1,300,000. Finally, Dana Investment Advisors Inc. grew its stake in PennyMac Mortgage Investment Trust by 5.1% in the 4th quarter. Dana Investment Advisors Inc. now owns 496,570 shares of the real estate investment trust’s stock valued at $6,252,000 after buying an additional 23,948 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $15.50 price target 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.20.

PennyMac Mortgage Investment Trust Stock Performance

PennyMac Mortgage Investment Trust stock opened at $14.68 on Thursday. The firm’s 50 day simple moving average is $13.85 and its 200 day simple moving average is $13.62. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. PennyMac Mortgage Investment Trust has a 1-year low of $11.77 and a 1-year high of $15.22. The firm has a market capitalization of $1.27 billion, a PE ratio of 11.03 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results 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%. As a group, analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.90%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 120.30%.

Insider Activity

In other news, Director Doug Jones sold 14,530 shares of the firm’s 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 sale, the director now owns 64,082 shares in the company, valued at approximately $929,189. This trade represents a 18.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Profile

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.