Maridea Wealth Management LLC Takes Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Maridea Wealth Management LLC bought a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,584 shares of the real estate investment trust’s stock, valued at approximately $511,000.

A number of other institutional investors have also added to or reduced their stakes in PMT. Principal Financial Group Inc. increased its holdings in shares of PennyMac Mortgage Investment Trust by 18.2% during the third 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in PennyMac Mortgage Investment Trust by 90.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,436 shares of the real estate investment trust’s stock valued at $2,487,000 after purchasing an additional 82,735 shares during the period. Simplify Asset Management Inc. grew its position in PennyMac Mortgage Investment Trust by 476.0% in the 4th quarter. Simplify Asset Management Inc. now owns 57,600 shares of the real estate investment trust’s stock valued at $725,000 after purchasing an additional 47,600 shares during the period. Dana Investment Advisors Inc. increased its stake in PennyMac Mortgage Investment Trust by 5.1% during the 4th quarter. Dana Investment Advisors Inc. now owns 496,570 shares of the real estate investment trust’s stock valued at $6,252,000 after purchasing an additional 23,948 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in PennyMac Mortgage Investment Trust by 43.2% during the third quarter. Citigroup Inc. now owns 407,660 shares of the real estate investment trust’s stock worth $5,813,000 after buying an additional 123,079 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 14,530 shares of PennyMac Mortgage Investment Trust stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total transaction of $210,685.00. Following the sale, the director now directly owns 64,082 shares in the company, valued at $929,189. The trade was a 18.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Trading Down 0.8 %

Shares of PennyMac Mortgage Investment Trust stock opened at $14.65 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $13.94 and a 200 day simple moving average of $13.64. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $15.22. The company has a market capitalization of $1.27 billion, a P/E ratio of 11.01 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 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%. On average, sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 10.92%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 120.30%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reiterated a “market outperform” rating and set a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the 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.