654,280 Shares in PennyMac Mortgage Investment Trust (NYSE:PMT) Acquired by Norges Bank (2024)

Posted by Defense World Staff on Jun 6th, 2024

Norges Bank acquired a new position in PennyMac Mortgage Investment Trust (NYSE:PMT – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 654,280 shares of the real estate investment trust’s stock, valued at approximately $9,781,000. Norges Bank owned about 0.76% of PennyMac Mortgage Investment Trust as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PMT. National Bank of Canada FI raised its stake in PennyMac Mortgage Investment Trust by 94.9% during the 4th quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 1,603 shares during the last quarter. Essex Financial Services Inc. purchased a new stake in PennyMac Mortgage Investment Trust during the 4th quarter valued at $150,000. Sherbrooke Park Advisers LLC purchased a new stake in PennyMac Mortgage Investment Trust during the 3rd quarter valued at $157,000. Kestra Private Wealth Services LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth $183,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth $204,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 7,810 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $14.34, for a total transaction of $111,995.40. Following the completion of the transaction, the director now owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

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

Get Our Latest Stock Analysis on PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust Trading Up 0.7 %

Shares of PennyMac Mortgage Investment Trust stock opened at $13.84 on Thursday. The company has a market capitalization of $1.20 billion, a P/E ratio of 9.23 and a beta of 1.50. 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 company has a fifty day moving average of $14.13 and a 200 day moving average of $14.32. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.52 and a fifty-two week high of $15.89.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed 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 dividend yield of 11.56%. The ex-dividend date of this dividend was Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 106.67%.

PennyMac Mortgage Investment Trust Profile

(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.