Victory Capital Management Inc. Grows Stock Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) (2024)

Posted by Defense World Staff on May 27th, 2024

Victory Capital Management Inc. lifted its stake in PennyMac Mortgage Investment Trust (NYSE:PMT – Free Report) by 16.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,702 shares of the real estate investment trust’s stock after purchasing an additional 2,439 shares during the quarter. Victory Capital Management Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PMT. Kestra Private Wealth Services LLC bought a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth about $183,000. Van ECK Associates Corp grew its holdings in shares of PennyMac Mortgage Investment Trust by 1.3% during the fourth quarter. Van ECK Associates Corp now owns 459,810 shares of the real estate investment trust’s stock valued at $6,874,000 after buying an additional 5,963 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $204,000. Significant Wealth Partners LLC purchased a new position in PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $896,000. Finally, Handelsbanken Fonder AB lifted its position in PennyMac Mortgage Investment Trust by 33.3% in the 4th quarter. Handelsbanken Fonder AB now owns 26,011 shares of the real estate investment trust’s stock valued at $389,000 after acquiring an additional 6,500 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Up 1.1 %

Shares of PMT stock opened at $13.57 on Monday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.37. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89. The stock has a market cap of $1.18 billion, a P/E ratio of 9.05 and a beta of 1.47. The company has a 50 day simple moving average of $14.25 and a two-hundred day simple moving average of $14.33.

PennyMac Mortgage Investment Trust Announces Dividend

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

Insider Activity

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $14.34, for a total transaction of $111,995.40. Following the sale, the director now owns 53,311 shares in the company, valued at approximately $764,479.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

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

Read Our Latest Research Report on PennyMac Mortgage Investment Trust

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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