Commonwealth Equity Services LLC Acquires 3,729 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Commonwealth Equity Services LLC increased its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 29.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,301 shares of the real estate investment trust’s stock after acquiring an additional 3,729 shares during the quarter. Commonwealth Equity Services LLC’s holdings in PennyMac Mortgage Investment Trust were worth $319,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in PMT. Creative Planning bought a new position in PennyMac Mortgage Investment Trust during the fourth quarter worth about $212,000. Victory Capital Management Inc. increased its position in PennyMac Mortgage Investment Trust by 42.1% during the fourth quarter. Victory Capital Management Inc. now owns 107,377 shares of the real estate investment trust’s stock worth $1,889,000 after acquiring an additional 31,799 shares during the period. California Public Employees Retirement System increased its position in PennyMac Mortgage Investment Trust by 3.2% during the fourth quarter. California Public Employees Retirement System now owns 231,580 shares of the real estate investment trust’s stock worth $4,073,000 after acquiring an additional 7,109 shares during the period. State of New Jersey Common Pension Fund D increased its position in PennyMac Mortgage Investment Trust by 3.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 131,616 shares of the real estate investment trust’s stock worth $2,315,000 after acquiring an additional 4,072 shares during the period. Finally, CIBC Asset Management Inc bought a new position in PennyMac Mortgage Investment Trust in the 4th quarter valued at about $230,000. 68.79% of the stock is currently owned by institutional investors and hedge funds.

PMT opened at $20.64 on Friday. The firm has a 50 day moving average of $19.72. PennyMac Mortgage Investment Trust has a 1-year low of $13.82 and a 1-year high of $20.96. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.29. The firm has a market cap of $2.02 billion, a P/E ratio of 2.99 and a beta of 1.17.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Thursday, May 6th. The real estate investment trust reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. PennyMac Mortgage Investment Trust had a net margin of 60.51% and a return on equity of 35.75%. On average, equities analysts predict that PennyMac Mortgage Investment Trust will post 2.34 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 29th. Stockholders of record on Thursday, April 15th were paid a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, April 14th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.11%. PennyMac Mortgage Investment Trust’s payout ratio is currently 696.30%.

In related news, Director Scott W. Carnahan sold 1,419 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Wednesday, June 2nd. The shares were sold at an average price of $19.92, for a total transaction of $28,266.48. Following the sale, the director now directly owns 58,110 shares in the company, valued at approximately $1,157,551.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Marianne Sullivan sold 7,583 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $20.17, for a total transaction of $152,949.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,776 shares of company stock worth $196,463. 0.84% of the stock is owned by corporate insiders.

Several equities analysts have commented on PMT shares. Zacks Investment Research lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Wednesday, May 5th. TheStreet raised shares of PennyMac Mortgage Investment Trust from a “d+” rating to a “c-” rating in a report on Thursday, March 25th. BTIG Research reissued a “hold” rating on shares of PennyMac Mortgage Investment Trust in a report on Friday, April 23rd. Wells Fargo & Company raised their target price on shares of PennyMac Mortgage Investment Trust from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, May 13th. Finally, Barclays raised their target price on shares of PennyMac Mortgage Investment Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $19.75.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in mortgage-related assets in the United States. The company operates through Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

See Also: Index Funds

Want to see what other hedge funds are holding PMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennyMac Mortgage Investment Trust (NYSE:PMT).

Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

Receive News & Ratings for PennyMac Mortgage Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Mortgage Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.