Sandy Spring Bank Acquires Shares of 3,907 PennyMac Mortgage Investment Trust (NYSE:PMT)

Sandy Spring Bank acquired a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,907 shares of the real estate investment trust’s stock, valued at approximately $49,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amundi lifted its position in shares of PennyMac Mortgage Investment Trust by 169.7% during the fourth quarter. Amundi now owns 41,977 shares of the real estate investment trust’s stock worth $521,000 after purchasing an additional 26,411 shares during the last quarter. Rialto Wealth Management LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth about $25,000. Raymond James Financial Inc. bought a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth about $1,300,000. Dana Investment Advisors Inc. lifted its position in shares of PennyMac Mortgage Investment Trust by 5.1% during the fourth quarter. Dana Investment Advisors Inc. now owns 496,570 shares of the real estate investment trust’s stock worth $6,252,000 after purchasing an additional 23,948 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth about $139,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the sale, the director now owns 64,082 shares in the company, valued at approximately $929,189. This trade represents a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a “market outperform” rating and set a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

PennyMac Mortgage Investment Trust Price Performance

PMT opened at $14.62 on Friday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 10.99 and a beta of 1.51. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $15.22. The company’s 50-day moving average price is $13.71 and its 200 day moving average price is $13.60. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping 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, sell-side analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.40 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 10.94%. PennyMac Mortgage Investment Trust’s payout ratio is currently 120.30%.

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.