PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Purchased by Victory Capital Management Inc. (2024)

Posted by ABMN Staff on May 27th, 2024

Victory Capital Management Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT – Free Report) by 16.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,702 shares of the real estate investment trust’s stock after purchasing an additional 2,439 shares during the quarter. Victory Capital Management Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $265,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in shares of PennyMac Mortgage Investment Trust by 16.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 1,115 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PennyMac Mortgage Investment Trust by 22.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,788 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 3,929 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in PennyMac Mortgage Investment Trust by 2.3% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 180,378 shares of the real estate investment trust’s stock worth $2,237,000 after purchasing an additional 4,041 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of PennyMac Mortgage Investment Trust by 10.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 43,519 shares of the real estate investment trust’s stock valued at $651,000 after buying an additional 4,239 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of PennyMac Mortgage Investment Trust by 12.4% in the third quarter. Deutsche Bank AG now owns 44,166 shares of the real estate investment trust’s stock worth $548,000 after buying an additional 4,878 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Up 1.1 %

Shares of PMT opened at $13.57 on Monday. The company’s 50-day simple moving average is $14.25 and its 200-day simple moving average is $14.33. 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 has a 1 year low of $10.52 and a 1 year high of $15.89. The stock has a market capitalization of $1.18 billion, a PE ratio of 9.05 and a beta of 1.47.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 11.79%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 106.67%.

Analyst Upgrades and Downgrades

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

Read Our Latest Stock Analysis on PMT

Insider Transactions at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 7,810 shares of PennyMac Mortgage Investment Trust stock in a transaction on Monday, March 11th. The stock was sold at an average price of $14.34, for a total value of $111,995.40. Following the completion of the transaction, the director now directly owns 53,311 shares in the company, valued at $764,479.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.89% of the company’s stock.