Jennison Associates LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 13.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,097 shares of the real estate investment trust’s stock after acquiring an additional 9,657 shares during the quarter. Jennison Associates LLC’s holdings in PennyMac Mortgage Investment Trust were worth $1,721,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PMT. Norges Bank acquired a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth $18,005,000. BlackRock Inc. increased its stake in PennyMac Mortgage Investment Trust by 5.8% during the first quarter. BlackRock Inc. now owns 11,062,403 shares of the real estate investment trust’s stock worth $229,102,000 after acquiring an additional 606,232 shares during the last quarter. Bessemer Group Inc. increased its stake in PennyMac Mortgage Investment Trust by 629.8% during the fourth quarter. Bessemer Group Inc. now owns 594,751 shares of the real estate investment trust’s stock worth $11,074,000 after acquiring an additional 513,251 shares during the last quarter. Algebris UK Ltd acquired a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth $5,396,000. Finally, Acadian Asset Management LLC increased its stake in PennyMac Mortgage Investment Trust by 29.6% during the first quarter. Acadian Asset Management LLC now owns 832,070 shares of the real estate investment trust’s stock worth $17,234,000 after acquiring an additional 189,869 shares during the last quarter. 71.56% of the stock is owned by institutional investors.

In other news, CEO David Spector sold 35,000 shares of PennyMac Mortgage Investment Trust stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $20.61, for a total value of $721,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott W. Carnahan sold 5,721 shares of PennyMac Mortgage Investment Trust stock in a transaction on Friday, March 15th. The shares were sold at an average price of $20.75, for a total value of $118,710.75. The disclosure for this sale can be found here. Insiders own 2.45% of the company’s stock.

Shares of NYSE PMT traded up $0.01 during trading on Wednesday, reaching $21.63. The stock had a trading volume of 9,837 shares, compared to its average volume of 734,793. PennyMac Mortgage Investment Trust has a fifty-two week low of $17.88 and a fifty-two week high of $21.91. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1.48 billion, a PE ratio of 10.88, a PEG ratio of 2.08 and a beta of 0.60.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.25. PennyMac Mortgage Investment Trust had a return on equity of 13.71% and a net margin of 46.63%. The business had revenue of $106.62 million during the quarter, compared to analysts’ expectations of $89.10 million. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, equities analysts predict that PennyMac Mortgage Investment Trust will post 2.06 earnings per share for the current year.

PMT has been the subject of several recent analyst reports. Barclays set a $21.00 target price on PennyMac Mortgage Investment Trust and gave the stock a “hold” rating in a research note on Thursday, March 7th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $22.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Tuesday, February 12th. ValuEngine cut PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Piper Jaffray Companies initiated coverage on PennyMac Mortgage Investment Trust in a research note on Friday, May 24th. They set an “overweight” rating and a $23.00 target price for the company. Finally, Nomura initiated coverage on PennyMac Mortgage Investment Trust in a research note on Wednesday, March 27th. They set a “buy” rating and a $23.00 target price for the company. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $22.25.

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About PennyMac Mortgage Investment Trust

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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Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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