40,584 Shares in PennyMac Mortgage Investment Trust (NYSE:PMT) Bought by Maridea Wealth Management LLC

Maridea Wealth Management LLC bought a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 40,584 shares of the real estate investment trust’s stock, valued at approximately $511,000.

Several other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in PennyMac Mortgage Investment Trust by 18.2% during the 3rd quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock worth $7,221,000 after purchasing an additional 77,955 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 90.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,436 shares of the real estate investment trust’s stock worth $2,487,000 after buying an additional 82,735 shares in the last quarter. Simplify Asset Management Inc. lifted its stake in shares of PennyMac Mortgage Investment Trust by 476.0% in the 4th quarter. Simplify Asset Management Inc. now owns 57,600 shares of the real estate investment trust’s stock valued at $725,000 after acquiring an additional 47,600 shares during the last quarter. Dana Investment Advisors Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 5.1% during the 4th quarter. Dana Investment Advisors Inc. now owns 496,570 shares of the real estate investment trust’s stock valued at $6,252,000 after acquiring an additional 23,948 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 43.2% during the 3rd quarter. Citigroup Inc. now owns 407,660 shares of the real estate investment trust’s stock valued at $5,813,000 after acquiring an additional 123,079 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Insider Activity

In other news, Director Doug Jones sold 14,530 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total value of $210,685.00. Following the transaction, the director now directly owns 64,082 shares of the company’s stock, valued at $929,189. The trade was a 18.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Down 0.8 %

Shares of NYSE:PMT opened at $14.65 on Friday. The firm has a market cap of $1.27 billion, a P/E ratio of 11.01 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $15.22. The business has a fifty day simple moving average of $13.94 and a 200 day simple moving average of $13.64. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43.

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

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 10.92%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 120.30%.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

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.