GSA Capital Partners LLP Cuts Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

GSA Capital Partners LLP trimmed its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 43.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 79,412 shares of the real estate investment trust’s stock after selling 60,791 shares during the quarter. GSA Capital Partners LLP’s holdings in PennyMac Mortgage Investment Trust were worth $1,132,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PMT. EntryPoint Capital LLC lifted its holdings in PennyMac Mortgage Investment Trust by 251.8% in the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 5,015 shares during the period. Entropy Technologies LP purchased a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter worth $149,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at about $157,000. Allspring Global Investments Holdings LLC purchased a new stake in PennyMac Mortgage Investment Trust during the second quarter valued at approximately $177,000. Finally, Caxton Associates LP bought a new position in PennyMac Mortgage Investment Trust in the 2nd quarter worth $232,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on PMT. JMP Securities upped their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Piper Sandler lowered their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Keefe, Bruyette & Woods dropped their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Wedbush reiterated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Finally, B. Riley reaffirmed a “buy” rating and set a $16.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.93.

PennyMac Mortgage Investment Trust Stock Performance

NYSE PMT opened at $13.06 on Friday. The stock’s 50 day simple moving average is $13.91 and its 200-day simple moving average is $13.94. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.85. The company has a market cap of $1.13 billion, a PE ratio of 9.68 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 1-year low of $12.81 and a 1-year high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $80.86 million for the quarter, compared to analyst estimates of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same quarter in the prior year, the business earned $0.51 EPS. As a group, equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 12.26%. The ex-dividend date of this dividend was Friday, October 11th. PennyMac Mortgage Investment Trust’s payout ratio is currently 117.65%.

Insider Activity

In other news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the sale, the director now directly owns 49,114 shares of the company’s stock, valued at approximately $688,087.14. The trade was a 42.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.89% 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.