Angel Oak Capital Advisors LLC Purchases New Shares in PennyMac Mortgage Investment Trust (NYSE:PMT)

Angel Oak Capital Advisors LLC acquired a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 94,182 shares of the real estate investment trust’s stock, valued at approximately $1,186,000. PennyMac Mortgage Investment Trust comprises about 1.6% of Angel Oak Capital Advisors LLC’s portfolio, making the stock its 10th biggest position. Angel Oak Capital Advisors LLC owned approximately 0.11% of PennyMac Mortgage Investment Trust as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 18.2% during the third quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock valued at $7,221,000 after purchasing an additional 77,955 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in PennyMac Mortgage Investment Trust by 90.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,436 shares of the real estate investment trust’s stock worth $2,487,000 after buying an additional 82,735 shares in the last quarter. Citigroup Inc. boosted its position in PennyMac Mortgage Investment Trust by 43.2% in the 3rd quarter. Citigroup Inc. now owns 407,660 shares of the real estate investment trust’s stock valued at $5,813,000 after buying an additional 123,079 shares during the last quarter. Barclays PLC increased its stake in shares of PennyMac Mortgage Investment Trust by 218.7% in the 3rd quarter. Barclays PLC now owns 148,734 shares of the real estate investment trust’s stock valued at $2,121,000 after buying an additional 102,067 shares during the period. Finally, K2 Principal Fund L.P. bought a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter worth $5,841,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

PMT has been the topic of several recent research reports. Wedbush reiterated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. JMP Securities reissued a “market outperform” rating and set a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

PennyMac Mortgage Investment Trust Stock Performance

PMT stock opened at $13.76 on Tuesday. PennyMac Mortgage Investment Trust has a 1-year low of $11.77 and a 1-year high of $15.22. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The firm has a market cap of $1.20 billion, a PE ratio of 10.35 and a beta of 1.51. The business’s 50-day moving average price is $12.98 and its two-hundred day moving average price is $13.49.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. As a group, research analysts forecast that PennyMac Mortgage Investment Trust will post 1.53 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, December 27th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.63%. The ex-dividend date of this dividend was Friday, December 27th. PennyMac Mortgage Investment Trust’s payout ratio is presently 120.30%.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.