Wells Fargo & Company MN grew its position in Pennymac Mortgage Investment (NYSE:PMT) by 9.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 368,516 shares of the real estate investment trust’s stock after buying an additional 31,220 shares during the period. Wells Fargo & Company MN owned 0.56% of Pennymac Mortgage Investment worth $5,922,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in PMT. Sei Investments Co. boosted its stake in Pennymac Mortgage Investment by 20,756.3% in the 3rd quarter. Sei Investments Co. now owns 6,674 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 6,642 shares in the last quarter. Orinda Asset Management LLC acquired a new stake in Pennymac Mortgage Investment in the 4th quarter worth approximately $241,000. Campbell & CO Investment Adviser LLC boosted its stake in Pennymac Mortgage Investment by 45.5% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 14,621 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 4,575 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Pennymac Mortgage Investment by 68.6% in the 3rd quarter. Mackenzie Financial Corp now owns 17,741 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 7,219 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Pennymac Mortgage Investment in the 4th quarter worth approximately $370,000. Institutional investors and hedge funds own 64.94% of the company’s stock.
Separately, Zacks Investment Research cut shares of Pennymac Mortgage Investment from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 27th.
Pennymac Mortgage Investment (NYSE:PMT) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Pennymac Mortgage Investment had a return on equity of 7.03% and a net margin of 34.34%. The business had revenue of $93.70 million for the quarter, compared to analysts’ expectations of $80.43 million. During the same period in the prior year, the business posted $0.44 earnings per share. The business’s quarterly revenue was up 36.0% compared to the same quarter last year. analysts predict that Pennymac Mortgage Investment will post 1.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 13th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 10.76%. The ex-dividend date is Thursday, April 12th. Pennymac Mortgage Investment’s dividend payout ratio (DPR) is 144.62%.
In other news, Director Marianne Sullivan bought 6,112 shares of the business’s stock in a transaction dated Tuesday, March 20th. The stock was purchased at an average cost of $17.67 per share, with a total value of $107,999.04. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andrew S. Chang sold 1,899 shares of Pennymac Mortgage Investment stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $17.30, for a total transaction of $32,852.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 21,371 shares of company stock valued at $369,899 and have sold 32,824 shares valued at $567,948. 2.08% of the stock is owned by insiders.
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Pennymac Mortgage Investment 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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