PennyMac Mortgage Investment Trust $PMT Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 967.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,070 shares of the real estate investment trust’s stock after buying an additional 145,076 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in PennyMac Mortgage Investment Trust were worth $1,806,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PMT. Corient Private Wealth LP acquired a new stake in PennyMac Mortgage Investment Trust in the second quarter valued at $1,651,000. Bank of New York Mellon Corp acquired a new position in PennyMac Mortgage Investment Trust during the 2nd quarter worth $6,137,000. Royal Bank of Canada increased its position in shares of PennyMac Mortgage Investment Trust by 1,469.4% in the 1st quarter. Royal Bank of Canada now owns 642,149 shares of the real estate investment trust’s stock worth $7,488,000 after purchasing an additional 601,233 shares during the last quarter. BlackRock Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust in the 2nd quarter worth about $164,344,000. Finally, Bank of America Corp DE raised its stake in shares of PennyMac Mortgage Investment Trust by 154.1% in the 1st quarter. Bank of America Corp DE now owns 412,512 shares of the real estate investment trust’s stock valued at $4,810,000 after purchasing an additional 250,160 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Up 0.2%

NYSE:PMT opened at $9.19 on Friday. The firm has a market capitalization of $800.93 million, a PE ratio of 6.47, a price-to-earnings-growth ratio of 0.68 and a beta of 1.14. The stock has a 50 day moving average of $9.65 and a 200-day moving average of $10.66. PennyMac Mortgage Investment Trust has a 52 week low of $9.05 and a 52 week high of $13.81. 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 (NYSE:PMT) last announced its quarterly earnings results 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 company had revenue of ($46.00) million during the quarter, compared to the consensus estimate of $93.93 million. Analysts predict that PennyMac Mortgage Investment Trust will post 1.03 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Thursday, October 8th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 17.4%. The ex-dividend date of this dividend is Thursday, October 8th. PennyMac Mortgage Investment Trust’s payout ratio is 112.68%.

Analyst Ratings Changes

PMT has been the topic of several research analyst reports. Wells Fargo & Company reduced their price target on shares of PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Saturday, August 15th. Piper Sandler dropped their price target on PennyMac Mortgage Investment Trust from $11.50 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings restated a “sell (d+)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Tuesday, August 18th. Finally, UBS Group decreased their price objective on shares of PennyMac Mortgage Investment Trust from $11.25 to $10.00 and set a “neutral” rating for the company in a report on Friday, August 21st. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.50.

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.