PennyMac Mortgage Investment Trust (NYSE:PMT) Stake Lessened by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund lowered its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) by 2.4% in the first quarter, Holdings Channel.com reports. The firm owned 36,872 shares of the real estate investment trust’s stock after selling 900 shares during the period. Oregon Public Employees Retirement Fund’s holdings in PennyMac Mortgage Investment Trust were worth $623,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 6.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,022,501 shares of the real estate investment trust’s stock valued at $87,040,000 after purchasing an additional 305,375 shares in the last quarter. Invesco Ltd. raised its holdings in shares of PennyMac Mortgage Investment Trust by 98.7% during the fourth quarter. Invesco Ltd. now owns 2,230,488 shares of the real estate investment trust’s stock worth $38,654,000 after acquiring an additional 1,107,783 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PennyMac Mortgage Investment Trust by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,029,898 shares of the real estate investment trust’s stock worth $17,849,000 after acquiring an additional 40,236 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of PennyMac Mortgage Investment Trust by 10.9% during the fourth quarter. Alliancebernstein L.P. now owns 753,102 shares of the real estate investment trust’s stock worth $13,051,000 after acquiring an additional 73,750 shares in the last quarter. Finally, Greenwich Investment Management Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth $9,430,000. Hedge funds and other institutional investors own 70.77% of the company’s stock.
PennyMac Mortgage Investment Trust Price Performance
NYSE PMT opened at $13.98 on Friday. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.64 and a fifty-two week high of $20.72. The stock’s 50-day moving average is $14.83 and its two-hundred day moving average is $15.91. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $1.36 billion, a P/E ratio of -19.15 and a beta of 1.14.
PennyMac Mortgage Investment Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 28th. Shareholders of record on Thursday, July 14th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, July 13th. This represents a $1.88 annualized dividend and a yield of 13.45%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently -257.53%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on PMT. Piper Sandler cut their price objective on PennyMac Mortgage Investment Trust from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Tuesday, June 28th. JMP Securities cut their price objective on PennyMac Mortgage Investment Trust from $22.00 to $18.00 and set a “market outperform” rating for the company in a report on Tuesday, April 26th. StockNews.com lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. B. Riley cut their price objective on PennyMac Mortgage Investment Trust from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, July 1st. Finally, TheStreet lowered PennyMac Mortgage Investment Trust from a “c-” rating to a “d” rating in a report on Friday, May 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, PennyMac Mortgage Investment Trust has an average rating of “Moderate Buy” and an average target price of $18.03.
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.
See Also
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 – Get Rating).
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