BlackRock Fund Advisors lowered its stake in PennyMac Mortgage Investment Trust (NYSE:PMT) by 4.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,561,656 shares of the company’s stock after selling 105,861 shares during the period. BlackRock Fund Advisors owned about 3.47% of PennyMac Mortgage Investment Trust worth $34,941,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of PennyMac Mortgage Investment Trust by 149.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 38,725 shares of the company’s stock valued at $528,000 after buying an additional 23,170 shares in the last quarter. Ellington Management Group LLC bought a new position in PennyMac Mortgage Investment Trust during the fourth quarter worth $1,082,000. Rhumbline Advisers boosted its position in PennyMac Mortgage Investment Trust by 3.9% in the fourth quarter. Rhumbline Advisers now owns 99,512 shares of the company’s stock worth $1,519,000 after buying an additional 3,760 shares during the period. Schwab Charles Investment Management Inc. boosted its position in PennyMac Mortgage Investment Trust by 8.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 342,118 shares of the company’s stock worth $5,221,000 after buying an additional 27,462 shares during the period. Finally, Two Sigma Advisers LLC boosted its position in PennyMac Mortgage Investment Trust by 62.6% in the fourth quarter. Two Sigma Advisers LLC now owns 343,852 shares of the company’s stock worth $5,247,000 after buying an additional 132,414 shares during the period.
Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) traded down 0.31% during midday trading on Tuesday, hitting $16.23. The stock had a trading volume of 314,582 shares. The company’s 50-day moving average price is $16.09 and its 200-day moving average price is $14.19. PennyMac Mortgage Investment Trust has a 12-month low of $10.91 and a 12-month high of $17.97. The firm has a market cap of $1.11 billion and a price-to-earnings ratio of 12.82.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 28th. Stockholders of record on Thursday, July 14th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 11.58%. The ex-dividend date is Tuesday, July 12th.
A number of equities analysts have recently weighed in on the company. JMP Securities reissued a “buy” rating on shares of PennyMac Mortgage Investment Trust in a report on Saturday, June 4th. Zacks Investment Research raised PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating and set a $15.00 price target for the company in a report on Tuesday, April 26th. Barclays PLC set a $15.00 price target on PennyMac Mortgage Investment Trust and gave the stock a “hold” rating in a report on Monday. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $18.50 price target (up from $17.00) on shares of PennyMac Mortgage Investment Trust in a report on Monday, June 13th. Finally, Bank of America Corp. cut PennyMac Mortgage Investment Trust from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $16.57.
In other news, insider David M. Walker sold 1,862 shares of the firm’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $15.71, for a total transaction of $29,252.02. Following the completion of the transaction, the insider now owns 73,703 shares of the company’s stock, valued at $1,157,874.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David Spector sold 17,250 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $14.87, for a total transaction of $256,507.50. Following the transaction, the chief operating officer now directly owns 300,871 shares of the company’s stock, valued at approximately $4,473,951.77. The disclosure for this sale can be found here.
PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. It operates through two segments: correspondent production and investment activities.
