Investment Centers of America Inc. Acquires New Position in PennyMac Mortgage Investment Trust (PMT)

Investment Centers of America Inc. acquired a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,713 shares of the real estate investment trust’s stock, valued at approximately $242,000.

Several other large investors also recently modified their holdings of PMT. BlackRock Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 2,106.6% in the first quarter. BlackRock Inc. now owns 6,302,356 shares of the real estate investment trust’s stock valued at $111,868,000 after buying an additional 6,016,745 shares in the last quarter. Norges Bank bought a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at about $13,286,000. UBS Group AG increased its stake in shares of PennyMac Mortgage Investment Trust by 27.3% in the first quarter. UBS Group AG now owns 1,456,733 shares of the real estate investment trust’s stock valued at $25,857,000 after buying an additional 312,290 shares in the last quarter. Algebris Investments UK LLP bought a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter valued at about $6,037,000. Finally, Vanguard Group Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 3.9% in the first quarter. Vanguard Group Inc. now owns 5,187,737 shares of the real estate investment trust’s stock valued at $92,082,000 after buying an additional 196,152 shares in the last quarter. 64.18% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) traded down 0.28% on Tuesday, reaching $18.06. 236,478 shares of the company traded hands. The company has a market capitalization of $1.20 billion, a PE ratio of 14.23 and a beta of 0.56. PennyMac Mortgage Investment Trust has a one year low of $14.28 and a one year high of $18.25. The firm has a 50-day moving average price of $17.70 and a 200 day moving average price of $17.21.

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Several research analysts recently commented on PMT shares. Credit Suisse Group increased their target price on shares of PennyMac Mortgage Investment Trust from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Tuesday, March 28th. Keefe, Bruyette & Woods restated a “buy” rating and set a $18.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, April 19th. Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Tuesday, May 9th. Finally, BidaskClub upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.46.

In other news, CFO Andrew S. Chang sold 1,937 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $17.64, for a total value of $34,168.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Spector sold 8,235 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $17.59, for a total transaction of $144,853.65. The disclosure for this sale can be found here. Insiders have sold a total of 15,702 shares of company stock valued at $274,213 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.

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