Polymer Capital Management US LLC Purchases New Shares in PennyMac Mortgage Investment Trust (NYSE:PMT)

Polymer Capital Management US LLC acquired a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) during the 4th quarter, Holdings Channel reports. The firm acquired 18,287 shares of the real estate investment trust’s stock, valued at approximately $230,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $5,212,000. GraniteShares Advisors LLC bought a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $2,461,000. Raymond James Financial Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at $1,300,000. Barclays PLC increased its stake in PennyMac Mortgage Investment Trust by 218.7% during 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, Angel Oak Capital Advisors LLC acquired a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $1,186,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 14,530 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the sale, the director now directly owns 64,082 shares of the company’s stock, valued at $929,189. This represents a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is currently owned by insiders.

PennyMac Mortgage Investment Trust Price Performance

NYSE PMT opened at $12.73 on Wednesday. PennyMac Mortgage Investment Trust has a 1 year low of $11.77 and a 1 year high of $15.22. The stock’s 50-day moving average price is $14.12 and its two-hundred day moving average price is $13.61. The company has a market cap of $1.11 billion, a PE ratio of 9.57 and a beta of 1.17. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. On average, analysts predict that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 12.57%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 120.30%.

Wall Street Analyst Weigh In

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, PennyMac Mortgage Investment Trust currently has an average rating of “Moderate Buy” and a consensus price target of $15.20.

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.