Janney Montgomery Scott LLC Raises Stock Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) (2024)

Posted by MarketBeat News on Jun 2nd, 2024

Janney Montgomery Scott LLC lifted its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT – Free Report) by 180.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,047 shares of the real estate investment trust’s stock after acquiring an additional 30,914 shares during the period. Janney Montgomery Scott LLC owned 0.06% of PennyMac Mortgage Investment Trust worth $718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jump Financial LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 39.4% during the 4th quarter. Jump Financial LLC now owns 38,090 shares of the real estate investment trust’s stock worth $569,000 after purchasing an additional 10,767 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of PennyMac Mortgage Investment Trust by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,360,869 shares of the real estate investment trust’s stock valued at $20,345,000 after buying an additional 61,287 shares during the period. National Bank of Canada FI boosted its position in PennyMac Mortgage Investment Trust by 94.9% during the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 1,603 shares during the last quarter. Natixis Advisors L.P. grew its stake in PennyMac Mortgage Investment Trust by 4.9% in the 4th quarter. Natixis Advisors L.P. now owns 279,039 shares of the real estate investment trust’s stock worth $4,171,000 after acquiring an additional 12,934 shares during the period. Finally, Essex Financial Services Inc. purchased a new stake in PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $150,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Insider Transactions at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 7,810 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $14.34, for a total transaction of $111,995.40. Following the sale, the director now directly owns 53,311 shares in the company, valued at approximately $764,479.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

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Several equities research analysts have recently issued reports on PMT shares. JMP Securities restated a “market outperform” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Piper Sandler restated a “neutral” rating and issued a $15.00 price target (up previously from $14.50) on shares of PennyMac Mortgage Investment Trust in a report on Thursday, May 9th. B. Riley increased their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, Wedbush restated a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Monday, April 29th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.92.

Read Our Latest Stock Report on PMT

PennyMac Mortgage Investment Trust Stock Down 0.2 %

Shares of NYSE:PMT opened at $13.68 on Friday. The stock has a 50-day simple moving average of $14.17 and a 200-day simple moving average of $14.32. The stock has a market capitalization of $1.19 billion, a P/E ratio of 9.12 and a beta of 1.47. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.34 and a current ratio of 0.34.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.60 annualized dividend and a yield of 11.70%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 106.67%.

PennyMac Mortgage Investment Trust Profile

(Free Report)

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.

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