RDA Financial Network Decreases Stock Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

RDA Financial Network trimmed its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 13.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,679 shares of the real estate investment trust’s stock after selling 2,500 shares during the quarter. RDA Financial Network’s holdings in PennyMac Mortgage Investment Trust were worth $210,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PMT. Versant Capital Management Inc boosted its stake in PennyMac Mortgage Investment Trust by 58.0% during the 4th quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 822 shares during the last quarter. JPMorgan Chase & Co. boosted its position in PennyMac Mortgage Investment Trust by 1.5% during the third quarter. JPMorgan Chase & Co. now owns 1,219,206 shares of the real estate investment trust’s stock worth $17,386,000 after acquiring an additional 18,122 shares during the last quarter. Principal Financial Group Inc. grew its stake in PennyMac Mortgage Investment Trust by 18.2% during the 3rd quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock valued at $7,221,000 after acquiring an additional 77,955 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $28,000. Finally, Geode Capital Management LLC lifted its stake in PennyMac Mortgage Investment Trust by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,021,922 shares of the real estate investment trust’s stock worth $28,838,000 after purchasing an additional 31,479 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wedbush restated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Two research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.20.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $12.72 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. The company has a 50-day moving average price of $13.05 and a 200 day moving average price of $13.62. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $15.22. The stock has a market cap of $1.10 billion, a P/E ratio of 9.35 and a beta of 1.50.

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). PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. The firm had revenue of $80.86 million for the quarter, compared to analyst estimates of $93.75 million. During the same quarter in the prior year, the business earned $0.51 EPS. Sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 1.26 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, December 27th will be given a $0.40 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a yield of 12.58%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 117.65%.

PennyMac Mortgage Investment Trust 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.