U.S. Capital Wealth Advisors LLC increased its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) by 72.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,215 shares of the real estate investment trust’s stock after acquiring an additional 7,215 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in PennyMac Mortgage Investment Trust were worth $203,000 at the end of the most recent reporting period.
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A number of other hedge funds and other institutional investors have also bought and sold shares of PMT. Envestnet Asset Management Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at about $213,000. MAS Advisors LLC grew its position in shares of PennyMac Mortgage Investment Trust by 158.9% in the 1st quarter. MAS Advisors LLC now owns 53,037 shares of the real estate investment trust’s stock valued at $895,000 after buying an additional 32,549 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 94.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 29,657 shares of the real estate investment trust’s stock valued at $501,000 after buying an additional 14,379 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of PennyMac Mortgage Investment Trust by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,113,026 shares of the real estate investment trust’s stock valued at $18,800,000 after buying an additional 30,302 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 3.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust’s stock valued at $548,000 after buying an additional 1,137 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.
PennyMac Mortgage Investment Trust Stock Up 0.9 %
PMT stock opened at $14.55 on Wednesday. The stock’s 50 day simple moving average is $14.24 and its 200 day simple moving average is $14.07. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.78 and a fifty-two week high of $18.67. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market cap of $1.29 billion, a P/E ratio of -9.90 and a beta of 1.33.
PennyMac Mortgage Investment Trust Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, December 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 11.00%. The ex-dividend date is Thursday, December 29th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently -108.84%.
Analysts Set New Price Targets
A number of research firms have commented on PMT. B. Riley upped their price target on PennyMac Mortgage Investment Trust from $15.00 to $16.00 in a research report on Monday, November 21st. Jonestrading downgraded PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Barclays dropped their price objective on PennyMac Mortgage Investment Trust from $18.00 to $14.00 in a research note on Friday, January 6th. Credit Suisse Group dropped their price objective on PennyMac Mortgage Investment Trust to $15.00 in a research note on Thursday, October 13th. Finally, StockNews.com assumed coverage on PennyMac Mortgage Investment Trust in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust has an average rating of “Hold” and an average target price of $15.64.
PennyMac Mortgage Investment Trust Profile
PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company’s Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.
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