Cambridge Investment Research Advisors Inc. bought a new position in shares of Pennymac Mortgage Investment (NYSE:PMT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 17,948 shares of the real estate investment trust’s stock, valued at approximately $288,000.
A number of other large investors have also bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its position in Pennymac Mortgage Investment by 4.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,429,875 shares of the real estate investment trust’s stock worth $55,118,000 after buying an additional 160,165 shares during the period. Wolverine Asset Management LLC lifted its position in shares of Pennymac Mortgage Investment by 58.3% in the 4th quarter. Wolverine Asset Management LLC now owns 1,435,148 shares of the real estate investment trust’s stock worth $23,062,000 after purchasing an additional 528,691 shares during the period. Global X Management Co. LLC lifted its position in shares of Pennymac Mortgage Investment by 3.3% in the 4th quarter. Global X Management Co. LLC now owns 1,191,349 shares of the real estate investment trust’s stock worth $19,145,000 after purchasing an additional 38,213 shares during the period. First Trust Advisors LP lifted its position in shares of Pennymac Mortgage Investment by 7.5% in the 4th quarter. First Trust Advisors LP now owns 736,773 shares of the real estate investment trust’s stock worth $11,840,000 after purchasing an additional 51,218 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Pennymac Mortgage Investment by 6.2% in the 4th quarter. Geode Capital Management LLC now owns 592,912 shares of the real estate investment trust’s stock worth $9,528,000 after purchasing an additional 34,464 shares during the period. Institutional investors and hedge funds own 64.94% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of Pennymac Mortgage Investment from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th.
Shares of NYSE PMT opened at $17.48 on Tuesday. The company has a market capitalization of $1,044.07, a PE ratio of 13.45 and a beta of 0.38. Pennymac Mortgage Investment has a 52-week low of $14.87 and a 52-week high of $18.46. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.90 and a current ratio of 0.90.
Pennymac Mortgage Investment (NYSE:PMT) last issued its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The firm had revenue of $93.70 million during the quarter, compared to analyst estimates of $80.43 million. Pennymac Mortgage Investment had a return on equity of 7.03% and a net margin of 34.34%. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. equities research analysts expect that Pennymac Mortgage Investment will post 1.59 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 13th will be given a $0.47 dividend. The ex-dividend date is Thursday, April 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.76%. Pennymac Mortgage Investment’s dividend payout ratio (DPR) is currently 144.62%.
Pennymac Mortgage Investment announced that its board has authorized a stock repurchase plan on Wednesday, December 20th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, insider Steven Richard Bailey sold 8,490 shares of Pennymac Mortgage Investment stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $17.33, for a total value of $147,131.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marianne Sullivan acquired 2,651 shares of the stock in a transaction dated Tuesday, February 13th. The stock was bought at an average price of $16.86 per share, with a total value of $44,695.86. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 21,371 shares of company stock worth $369,899 and sold 32,368 shares worth $560,050. 2.08% of the stock is currently owned by insiders.
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Pennymac Mortgage Investment Profile
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).
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