LSV Asset Management Decreases Holdings in PennyMac Mortgage Investment Trust (PMT)

LSV Asset Management cut its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 1.8% during the 4th quarter, HoldingsChannel reports. The fund owned 1,456,436 shares of the real estate investment trust’s stock after selling 27,400 shares during the quarter. LSV Asset Management’s holdings in PennyMac Mortgage Investment Trust were worth $23,404,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PMT. First Trust Advisors LP raised its stake in shares of PennyMac Mortgage Investment Trust by 518.2% during the third quarter. First Trust Advisors LP now owns 685,555 shares of the real estate investment trust’s stock worth $11,922,000 after acquiring an additional 574,667 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of PennyMac Mortgage Investment Trust in the second quarter worth approximately $2,321,000. Global X MANAGEMENT CO LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 6.7% in the third quarter. Global X MANAGEMENT CO LLC now owns 1,153,136 shares of the real estate investment trust’s stock worth $20,053,000 after purchasing an additional 72,117 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 10.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 557,761 shares of the real estate investment trust’s stock worth $8,964,000 after purchasing an additional 52,268 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in shares of PennyMac Mortgage Investment Trust in the third quarter worth approximately $876,000. 62.25% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. PennyMac Mortgage Investment Trust presently has an average rating of “Hold” and an average target price of $18.50.

PennyMac Mortgage Investment Trust (NYSE:PMT) opened at $16.03 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.46. PennyMac Mortgage Investment Trust has a fifty-two week low of $14.87 and a fifty-two week high of $18.46. The stock has a market cap of $1,052.37, a P/E ratio of 11.30 and a beta of 0.49.

The business also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, December 29th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 11.73%. The ex-dividend date was Thursday, December 28th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 132.39%.

PennyMac Mortgage Investment Trust announced that its board has authorized a stock repurchase plan on Wednesday, December 20th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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PennyMac Mortgage Investment Trust Company Profile

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.

Want to see what other hedge funds are holding PMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennyMac Mortgage Investment Trust (NYSE:PMT).

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

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