Citadel Advisors LLC Trims Holdings in PennyMac Mortgage Investment Trust (PMT)

Citadel Advisors LLC reduced its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 292,233 shares of the real estate investment trust’s stock after selling 2,542 shares during the period. Citadel Advisors LLC’s holdings in PennyMac Mortgage Investment Trust were worth $5,915,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pinebridge Investments L.P. increased its holdings in shares of PennyMac Mortgage Investment Trust by 16.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 117,702 shares of the real estate investment trust’s stock valued at $2,235,000 after acquiring an additional 16,272 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at $767,000. Crossmark Global Holdings Inc. increased its holdings in shares of PennyMac Mortgage Investment Trust by 21.6% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 18,000 shares of the real estate investment trust’s stock valued at $364,000 after acquiring an additional 3,200 shares during the period. Legal & General Group Plc increased its holdings in shares of PennyMac Mortgage Investment Trust by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 170,415 shares of the real estate investment trust’s stock valued at $3,239,000 after acquiring an additional 7,193 shares during the period. Finally, TD Asset Management Inc. purchased a new position in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at $661,000. Institutional investors own 68.10% of the company’s stock.

PennyMac Mortgage Investment Trust stock opened at $21.24 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.27 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 2.49 and a beta of 0.41. PennyMac Mortgage Investment Trust has a 1-year low of $15.44 and a 1-year high of $21.24.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.25. The firm had revenue of $108.50 million during the quarter, compared to analysts’ expectations of $121.87 million. PennyMac Mortgage Investment Trust had a return on equity of 10.64% and a net margin of 40.40%. The business’s quarterly revenue was up 43.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 EPS. As a group, equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.68 EPS for the current fiscal year.

A number of analysts have recently weighed in on the company. JMP Securities raised their price objective on PennyMac Mortgage Investment Trust from $20.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Friday, November 2nd. Wells Fargo & Co assumed coverage on PennyMac Mortgage Investment Trust in a research report on Tuesday, September 18th. They issued a “market perform” rating and a $20.00 price objective for the company. ValuEngine raised PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Finally, Credit Suisse Group raised their price objective on PennyMac Mortgage Investment Trust from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $20.40.

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PennyMac Mortgage Investment Trust Company 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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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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