Today: The PennyMac Mortgage Investment Trust (PMT) Position Boosted by JPMorgan Chase & Co.

The PennyMac Mortgage Investment Trust (PMT) Position Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 1,918.9% during the second quarter, Holdings Channel reports. The firm owned 65,454 shares of the company’s stock after buying an additional 62,212 shares during the period. JPMorgan Chase & Co. owned approximately 0.10% of PennyMac Mortgage Investment Trust worth $1,062,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Prudential Financial Inc. boosted its stake in PennyMac Mortgage Investment Trust by 31.7% in the first quarter. Prudential Financial Inc. now owns 531,553 shares of the company’s stock valued at $7,250,000 after buying an additional 127,800 shares during the last quarter. Menta Capital LLC bought a new stake in PennyMac Mortgage Investment Trust during the first quarter valued at $299,000. Goldman Sachs Group Inc. boosted its stake in PennyMac Mortgage Investment Trust by 19.2% in the first quarter. Goldman Sachs Group Inc. now owns 366,062 shares of the company’s stock valued at $4,993,000 after buying an additional 58,984 shares during the last quarter. Magnetar Financial LLC boosted its stake in PennyMac Mortgage Investment Trust by 1.0% in the first quarter. Magnetar Financial LLC now owns 26,337 shares of the company’s stock valued at $359,000 after buying an additional 256 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in PennyMac Mortgage Investment Trust during the second quarter valued at $216,000. Institutional investors own 61.29% of the company’s stock.

PennyMac Mortgage Investment Trust (NYSE:PMT) traded up 0.13% during mid-day trading on Friday, hitting $15.02. 239,418 shares of the stock traded hands. The firm has a market cap of $1.02 billion, a P/E ratio of 17.40 and a beta of 0.64. The firm’s 50-day moving average price is $15.06 and its 200-day moving average price is $15.17. PennyMac Mortgage Investment Trust has a 52 week low of $10.91 and a 52 week high of $16.93.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Wednesday, August 3rd. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.38 by $0.30. The company had revenue of $47.60 million for the quarter, compared to the consensus estimate of $67.85 million. PennyMac Mortgage Investment Trust had a return on equity of 4.41% and a net margin of 26.07%. The business’s quarterly revenue was down 31.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 EPS. On average, equities analysts forecast that PennyMac Mortgage Investment Trust will post $2.52 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 27th. Investors of record on Friday, October 7th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 12.52%. The ex-dividend date of this dividend was Wednesday, October 5th. PennyMac Mortgage Investment Trust’s payout ratio is 229.27%.

Several research firms recently weighed in on PMT. Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating and set a $17.00 target price for the company in a research note on Wednesday, October 12th. Wedbush started coverage on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, October 5th. They issued a “neutral” rating and a $16.75 price target for the company. Keefe, Bruyette & Woods dropped their price target on shares of PennyMac Mortgage Investment Trust from $18.50 to $18.00 and set an “outperform” rating for the company in a research report on Monday, August 8th. Barclays PLC set a $15.00 price target on shares of PennyMac Mortgage Investment Trust and gave the stock a “hold” rating in a research report on Monday, July 25th. Finally, Bank of America Corp. lowered shares of PennyMac Mortgage Investment Trust from a “neutral” rating to an “underperform” rating in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $16.89.

In related news, Director Scott W. Carnahan bought 3,341 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Wednesday, September 21st. The stock was acquired at an average price of $15.22 per share, with a total value of $50,850.02. Following the acquisition, the director now owns 49,203 shares of the company’s stock, valued at approximately $748,869.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. It operates through two segments: correspondent production and investment activities.

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