Wolverine Asset Management LLC Has $3.16 Million Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Wolverine Asset Management LLC cut its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 45.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 251,127 shares of the real estate investment trust’s stock after selling 210,196 shares during the period. Wolverine Asset Management LLC’s holdings in PennyMac Mortgage Investment Trust were worth $3,162,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Versant Capital Management Inc raised its position in shares of PennyMac Mortgage Investment Trust by 58.0% in the 4th quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 822 shares in the last quarter. Rhumbline Advisers raised its position in shares of PennyMac Mortgage Investment Trust by 0.4% in the 4th quarter. Rhumbline Advisers now owns 264,702 shares of the real estate investment trust’s stock worth $3,333,000 after acquiring an additional 1,001 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of PennyMac Mortgage Investment Trust by 5.0% in the 3rd quarter. QRG Capital Management Inc. now owns 23,036 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 1,093 shares in the last quarter. Caprock Group LLC raised its position in shares of PennyMac Mortgage Investment Trust by 9.3% in the 3rd quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock worth $195,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter worth about $28,000. 67.38% of the stock is owned by institutional investors.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PennyMac Mortgage Investment Trust stock opened at $14.09 on Friday. PennyMac Mortgage Investment Trust has a one year low of $11.77 and a one year high of $15.22. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 10.59 and a beta of 1.51. The business has a 50-day simple moving average of $13.01 and a 200 day simple moving average of $13.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. On average, research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, December 27th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 11.36%. The ex-dividend date of this dividend was Friday, December 27th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 120.30%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reissued a “market outperform” rating and issued a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.20.

PennyMac Mortgage Investment Trust Company Profile

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.