Cerity Partners LLC Makes New $798,000 Investment in PennyMac Mortgage Investment Trust (NYSE:PMT)

Posted by Defense World Staff on Sep 4th, 2023

Cerity Partners LLC purchased a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,464 shares of the real estate investment trust’s stock, valued at approximately $798,000.

A number of other large investors also recently bought and sold shares of PMT. Natixis Advisors L.P. raised its stake in shares of PennyMac Mortgage Investment Trust by 21.9% in the 1st quarter. Natixis Advisors L.P. now owns 153,942 shares of the real estate investment trust’s stock valued at $1,898,000 after acquiring an additional 27,695 shares during the period. Rhumbline Advisers raised its holdings in shares of PennyMac Mortgage Investment Trust by 3.9% in the 1st quarter. Rhumbline Advisers now owns 290,414 shares of the real estate investment trust’s stock worth $3,581,000 after purchasing an additional 11,022 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 2.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 42,460 shares of the real estate investment trust’s stock worth $523,000 after purchasing an additional 1,201 shares in the last quarter. Citigroup Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 248.8% in the first quarter. Citigroup Inc. now owns 185,823 shares of the real estate investment trust’s stock worth $2,291,000 after acquiring an additional 132,548 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in PennyMac Mortgage Investment Trust by 53.2% during the first quarter. Tower Research Capital LLC TRC now owns 5,650 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 1,961 shares in the last quarter. Hedge funds and other institutional investors own 66.89% of the company’s stock.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other news, Director Scott W. Carnahan sold 6,704 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $13.23, for a total value of $88,693.92. Following the completion of the sale, the director now owns 9,844 shares of the company’s stock, valued at $130,236.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.

PennyMac Mortgage Investment Trust Price Performance

NYSE:PMT opened at $13.46 on Monday. PennyMac Mortgage Investment Trust has a one year low of $10.78 and a one year high of $15.77. The company has a market cap of $1.17 billion, a P/E ratio of 22.43 and a beta of 1.45. The firm’s fifty day moving average price is $13.28 and its two-hundred day moving average price is $12.63. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.33 and a quick ratio of 0.33.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.60 annualized dividend and a dividend yield of 11.89%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 266.67%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. B. Riley decreased their target price on shares of PennyMac Mortgage Investment Trust from $16.00 to $15.00 in a research report on Tuesday, August 8th. StockNews.com cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Friday. TheStreet lowered shares of PennyMac Mortgage Investment Trust from a “c-” rating to a “d+” rating in a report on Wednesday, May 17th. Piper Sandler lowered their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.00 in a research report on Friday, July 28th. Finally, JMP Securities lifted their price objective on shares of PennyMac Mortgage Investment Trust from $12.50 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.83.

Check Out Our Latest Report on PMT

PennyMac Mortgage Investment Trust Profile

(Free Report)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. It operates through four segments: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production, and Corporate. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.