Longboard Asset Management LP Acquires New Shares in PennyMac Mortgage Investment Trust (NYSE:PMT)

Longboard Asset Management LP acquired a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 12,684 shares of the real estate investment trust’s stock, valued at approximately $160,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of PennyMac Mortgage Investment Trust in the third quarter valued at about $28,000. Versant Capital Management Inc raised its holdings in shares of PennyMac Mortgage Investment Trust by 58.0% in the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 822 shares in the last quarter. Simplify Asset Management Inc. bought a new position in PennyMac Mortgage Investment Trust in the third quarter worth about $143,000. Aigen Investment Management LP bought a new position in PennyMac Mortgage Investment Trust in the third quarter worth about $152,000. Finally, Caprock Group LLC raised its holdings in PennyMac Mortgage Investment Trust by 9.3% in the third quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock worth $195,000 after purchasing an additional 1,156 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

PennyMac Mortgage Investment Trust Stock Performance

PMT opened at $13.52 on Wednesday. PennyMac Mortgage Investment Trust has a 52-week low of $11.77 and a 52-week high of $15.22. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43. The company has a market cap of $1.17 billion, a P/E ratio of 10.17 and a beta of 1.51. The firm’s 50-day moving average price is $12.97 and its 200-day moving average price is $13.50.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. As a group, equities analysts anticipate that PennyMac Mortgage Investment Trust will post 1.53 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, December 27th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.60 annualized dividend and a dividend yield of 11.83%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 120.30%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PMT shares. JMP Securities reiterated 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. Wedbush reiterated a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.