Entropy Technologies LP Makes New $149,000 Investment in PennyMac Mortgage Investment Trust (NYSE:PMT) (2024)

Entropy Technologies LP purchased a new position in PennyMac Mortgage Investment Trust (NYSE:PMT – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,158 shares of the real estate investment trust’s stock, valued at approximately $149,000.

Other large investors also recently modified their holdings of the company. Roble Belko & Company Inc bought a new position in PennyMac Mortgage Investment Trust in the 1st quarter valued at about $29,000. National Bank of Canada FI raised its position in PennyMac Mortgage Investment Trust by 94.9% in the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 1,603 shares in the last quarter. Essex Financial Services Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $150,000. Kestra Private Wealth Services LLC bought a new position in shares of PennyMac Mortgage Investment Trust in the fourth quarter valued at $183,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth $204,000. 67.38% of the stock is owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Price Performance

Shares of PennyMac Mortgage Investment Trust stock opened at $14.50 on Friday. The firm has a fifty day simple moving average of $13.99 and a 200-day simple moving average of $14.15. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.37. PennyMac Mortgage Investment Trust has a 1-year low of $10.52 and a 1-year high of $15.89. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 9.67 and a beta of 1.51.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.03%. The ex-dividend date of this dividend is Friday, July 12th. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PMT shares. Wedbush reissued a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Monday, April 29th. Piper Sandler reiterated a “neutral” rating and set a $15.00 price objective (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, May 9th. Keefe, Bruyette & Woods upgraded shares of PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $15.00 to $15.50 in a report on Wednesday, July 10th. Finally, JMP Securities boosted their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.07.

Read Our Latest Report on PMT

PennyMac Mortgage Investment Trust Company 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.

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