Advisors Preferred LLC Decreases Stock Holdings in PennyMac Mortgage Investment Trust $PMT

Advisors Preferred LLC lowered its stake in PennyMac Mortgage Investment Trust (NYSE:PMT) by 40.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 28,703 shares of the real estate investment trust’s stock after selling 19,587 shares during the quarter. Advisors Preferred LLC’s holdings in PennyMac Mortgage Investment Trust were worth $373,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Trust Co. of Vermont bought a new stake in shares of PennyMac Mortgage Investment Trust during the 2nd quarter valued at about $25,000. GAMMA Investing LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 204.0% during the 1st quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 1,363 shares in the last quarter. Signaturefd LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 53.8% during the 2nd quarter. Signaturefd LLC now owns 2,486 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 870 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of PennyMac Mortgage Investment Trust by 196.5% during the 1st quarter. Russell Investments Group Ltd. now owns 3,262 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 2,162 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 71.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,968 shares of the real estate investment trust’s stock valued at $146,000 after purchasing an additional 4,147 shares in the last quarter. Institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT stock opened at $12.05 on Tuesday. PennyMac Mortgage Investment Trust has a 12 month low of $11.60 and a 12 month high of $14.93. The stock has a market cap of $1.05 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 2.73 and a beta of 1.29. The company has a current ratio of 0.57, a quick ratio of 0.80 and a debt-to-equity ratio of 0.66. The company’s fifty day moving average price is $12.23 and its 200-day moving average price is $12.43.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.19. The firm had revenue of $99.23 million for the quarter, compared to analysts’ expectations of $97.91 million. PennyMac Mortgage Investment Trust had a net margin of 37.92% and a return on equity of 9.01%. On average, equities analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 10th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.60 annualized dividend and a yield of 13.3%. PennyMac Mortgage Investment Trust’s payout ratio is 175.82%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PMT. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lowered shares of PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and cut their target price for the company from $14.50 to $13.50 in a research note on Friday, July 25th. UBS Group boosted their target price on shares of PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a report on Friday, October 24th. Zacks Research upgraded shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, Wells Fargo & Company began coverage on shares of PennyMac Mortgage Investment Trust in a report on Monday, August 25th. They set an “equal weight” rating and a $13.00 target price on the stock. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust has an average rating of “Hold” and a consensus price target of $13.88.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Catherine A. Lynch bought 2,823 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was acquired at an average cost of $12.02 per share, with a total value of $33,932.46. Following the completion of the acquisition, the director owned 54,711 shares of the company’s stock, valued at approximately $657,626.22. This represents a 5.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.92% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

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.