Blackstone Group Inc Purchases New Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

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Blackstone Group Inc purchased a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 250,000 shares of the real estate investment trust’s stock, valued at approximately $5,458,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in PennyMac Mortgage Investment Trust by 676.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,008,688 shares of the real estate investment trust’s stock valued at $21,928,000 after purchasing an additional 878,819 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 435.2% during the second quarter. Panagora Asset Management Inc. now owns 109,190 shares of the real estate investment trust’s stock valued at $2,384,000 after acquiring an additional 88,790 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in shares of PennyMac Mortgage Investment Trust during the second quarter valued at about $214,000. Signaturefd LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 229.1% during the second quarter. Signaturefd LLC now owns 2,873 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 2,000 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of PennyMac Mortgage Investment Trust by 13.6% during the second quarter. State of Alaska Department of Revenue now owns 26,009 shares of the real estate investment trust’s stock valued at $567,000 after acquiring an additional 3,104 shares in the last quarter. Hedge funds and other institutional investors own 71.22% of the company’s stock.

Several analysts have recently weighed in on the company. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research note on Wednesday, July 31st. Wedbush restated a “neutral” rating on shares of PennyMac Mortgage Investment Trust in a research note on Friday, July 26th. Finally, Piper Jaffray Companies assumed 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. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $22.57.

NYSE:PMT traded up $0.26 during mid-day trading on Thursday, reaching $22.30. The stock had a trading volume of 4,391 shares, compared to its average volume of 750,255. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 1.94 and a beta of 0.60. PennyMac Mortgage Investment Trust has a 1-year low of $17.88 and a 1-year high of $22.62. The stock’s 50 day simple moving average is $21.96 and its two-hundred day simple moving average is $21.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.43 and a quick ratio of 0.43.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. The business had revenue of $96.40 million during the quarter, compared to the consensus estimate of $104.95 million. PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.03%. During the same period last year, the firm earned $0.70 earnings per share. Sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 2.25 EPS for the current fiscal year.

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

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