Charles Schwab Investment Management Inc. Buys 61,287 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) (2024)

Posted by Defense World Staff on May 26th, 2024

Charles Schwab Investment Management Inc. grew its position in PennyMac Mortgage Investment Trust (NYSE:PMT – Free Report) by 4.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,360,869 shares of the real estate investment trust’s stock after buying an additional 61,287 shares during the period. Charles Schwab Investment Management Inc. owned 1.57% of PennyMac Mortgage Investment Trust worth $20,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in PennyMac Mortgage Investment Trust by 16.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 1,115 shares during the period. Teacher Retirement System of Texas grew its position in shares of PennyMac Mortgage Investment Trust by 14.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 78,513 shares of the real estate investment trust’s stock worth $974,000 after buying an additional 10,105 shares during the period. Illinois Municipal Retirement Fund bought a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter worth approximately $646,000. Jump Financial LLC lifted its holdings in PennyMac Mortgage Investment Trust by 153.7% in the third quarter. Jump Financial LLC now owns 27,323 shares of the real estate investment trust’s stock valued at $339,000 after buying an additional 16,555 shares during the period. Finally, Barclays PLC boosted its stake in PennyMac Mortgage Investment Trust by 75.9% in the third quarter. Barclays PLC now owns 85,432 shares of the real estate investment trust’s stock valued at $1,059,000 after acquiring an additional 36,862 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

Insider Transactions at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 7,810 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $14.34, for a total value of $111,995.40. Following the completion of the transaction, the director now directly owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.89% of the stock is owned by insiders.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT opened at $13.57 on Friday. The stock has a 50 day simple moving average of $14.25 and a 200 day simple moving average of $14.32. PennyMac Mortgage Investment Trust has a 52-week low of $10.52 and a 52-week high of $15.89. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market capitalization of $1.18 billion, a PE ratio of 9.05 and a beta of 1.47.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.79%. The ex-dividend date was Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 106.67%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PMT shares. JMP Securities reissued a “market outperform” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th. B. Riley boosted their target price on PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Piper Sandler reiterated a “neutral” rating and issued a $15.00 price target (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, May 9th. Finally, Wedbush restated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.92.

Check Out Our Latest Stock Report on PMT

About PennyMac Mortgage Investment Trust

(Free Report)

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.

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