Bailard Inc. Invests $260,000 in PennyMac Mortgage Investment Trust (NYSE:PMT)

Bailard Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 11,700 shares of the real estate investment trust’s stock, valued at approximately $260,000.

Several other large investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 97.9% during the second quarter. Flagship Harbor Advisors LLC now owns 2,021 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,000 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of PennyMac Mortgage Investment Trust during the second quarter worth $45,000. NEXT Financial Group Inc raised its holdings in shares of PennyMac Mortgage Investment Trust by 334.0% during the second quarter. NEXT Financial Group Inc now owns 2,756 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 2,121 shares during the last quarter. Signaturefd LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 229.1% during the second quarter. Signaturefd LLC now owns 2,873 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Point72 Hong Kong Ltd raised its holdings in shares of PennyMac Mortgage Investment Trust by 2,028.0% during the second quarter. Point72 Hong Kong Ltd now owns 6,001 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 5,719 shares during the last quarter. Institutional investors and hedge funds own 71.31% of the company’s stock.

Shares of PennyMac Mortgage Investment Trust stock opened at $22.84 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a fifty day moving average price of $22.25 and a 200 day moving average price of $21.74. PennyMac Mortgage Investment Trust has a 1 year low of $17.88 and a 1 year high of $22.89. The stock has a market cap of $1.77 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 2.02 and a beta of 0.59.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. PennyMac Mortgage Investment Trust had a net margin of 47.03% and a return on equity of 13.29%. The company had revenue of $96.40 million during the quarter, compared to analysts’ expectations of $104.95 million. During the same quarter in the previous year, the company earned $0.70 earnings per share. As a group, equities analysts expect that PennyMac Mortgage Investment Trust will post 2.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, October 14th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.88 dividend on an annualized basis and a yield of 8.23%. PennyMac Mortgage Investment Trust’s payout ratio is 94.47%.

Several brokerages recently issued reports on PMT. Wedbush reissued a “neutral” rating on shares of PennyMac Mortgage Investment Trust in a report on Friday, July 26th. Bank of America began coverage on shares of PennyMac Mortgage Investment Trust in a report on Monday, September 23rd. They set a “buy” rating and a $23.00 target price for the company. Zacks Investment Research cut shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank began coverage on shares of PennyMac Mortgage Investment Trust in a report on Friday, October 11th. They set a “buy” rating and a $24.00 target price for the company. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.88.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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

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