JPMorgan Chase & Co. Has $1.19 Million Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

JPMorgan Chase & Co. lowered its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 51.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,966 shares of the real estate investment trust’s stock after selling 71,426 shares during the period. JPMorgan Chase & Co. owned approximately 0.10% of PennyMac Mortgage Investment Trust worth $1,189,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new position in shares of PennyMac Mortgage Investment Trust during the first quarter worth about $104,000. ProShare Advisors LLC raised its position in shares of PennyMac Mortgage Investment Trust by 198.3% in the first quarter. ProShare Advisors LLC now owns 33,844 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 22,500 shares during the period. Eqis Capital Management Inc. purchased a new position in shares of PennyMac Mortgage Investment Trust during the first quarter worth about $210,000. Karp Capital Management Corp purchased a new position in shares of PennyMac Mortgage Investment Trust during the first quarter worth about $240,000. Finally, Credit Agricole S A purchased a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth about $254,000. Hedge funds and other institutional investors own 64.06% of the company’s stock.

PennyMac Mortgage Investment Trust (NYSE:PMT) traded up 0.11% during midday trading on Wednesday, hitting $17.42. The stock had a trading volume of 326,251 shares. The stock has a 50 day moving average of $17.77 and a 200 day moving average of $17.51. PennyMac Mortgage Investment Trust has a 12 month low of $14.28 and a 12 month high of $18.46. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 10.41 and a beta of 0.52.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.05. The firm had revenue of $83.96 million during the quarter, compared to analysts’ expectations of $80.12 million. PennyMac Mortgage Investment Trust had a return on equity of 8.67% and a net margin of 37.97%. The business’s revenue was up 76.4% on a year-over-year basis. During the same period last year, the business earned ($0.08) earnings per share. Analysts expect that PennyMac Mortgage Investment Trust will post $1.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Thursday, July 13th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 10.79%. The ex-dividend date of this dividend was Tuesday, July 11th. PennyMac Mortgage Investment Trust’s payout ratio is presently 109.94%.

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A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday, May 9th. BidaskClub raised PennyMac Mortgage Investment Trust from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $18.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.46.

In related news, CFO Andrew S. Chang sold 1,937 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $17.64, for a total transaction of $34,168.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David Spector sold 8,235 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $17.59, for a total transaction of $144,853.65. The disclosure for this sale can be found here. Insiders have sold 12,626 shares of company stock worth $222,229 over the last ninety days. 1.80% of the stock is currently owned by insiders.

About PennyMac Mortgage Investment Trust

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. (its Operating Partnership) and its subsidiaries.

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

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