Bessemer Group Inc. Lowers Stake in PennyMac Mortgage Investment Trust (PMT)

Bessemer Group Inc. reduced its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 23.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 80,700 shares of the real estate investment trust’s stock after selling 24,700 shares during the quarter. Bessemer Group Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $1,297,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in PennyMac Mortgage Investment Trust by 4.4% in the second quarter. Public Employees Retirement System of Ohio now owns 7,207 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 304 shares during the period. M&T Bank Corp increased its stake in PennyMac Mortgage Investment Trust by 4.8% in the second quarter. M&T Bank Corp now owns 10,900 shares of the real estate investment trust’s stock worth $200,000 after purchasing an additional 500 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in PennyMac Mortgage Investment Trust by 2.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,153 shares of the real estate investment trust’s stock worth $387,000 after purchasing an additional 533 shares during the period. Principal Financial Group Inc. increased its stake in PennyMac Mortgage Investment Trust by 6.0% in the second quarter. Principal Financial Group Inc. now owns 14,489 shares of the real estate investment trust’s stock worth $265,000 after purchasing an additional 817 shares during the period. Finally, Royal Bank of Canada increased its stake in PennyMac Mortgage Investment Trust by 16.9% in the second quarter. Royal Bank of Canada now owns 15,560 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 2,254 shares during the period. Hedge funds and other institutional investors own 62.25% of the company’s stock.

A number of research firms have weighed in on PMT. ValuEngine upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. PennyMac Mortgage Investment Trust presently has an average rating of “Hold” and an average price target of $18.50.

PennyMac Mortgage Investment Trust (NYSE:PMT) opened at $16.03 on Thursday. The company has a market capitalization of $1,050.00, a price-to-earnings ratio of 12.24 and a beta of 0.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.78 and a current ratio of 0.78. PennyMac Mortgage Investment Trust has a 52 week low of $14.87 and a 52 week high of $18.46.

The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, December 29th were paid a dividend of $0.47 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.88 annualized dividend and a dividend yield of 11.73%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 143.51%.

PennyMac Mortgage Investment Trust declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 20th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

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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.

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

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