Russell Investments Group Ltd. bought a new position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 68,321 shares of the real estate investment trust’s stock, valued at approximately $1,372,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinebridge Investments L.P. boosted its holdings in PennyMac Mortgage Investment Trust by 16.0% during the second quarter. Pinebridge Investments L.P. now owns 117,702 shares of the real estate investment trust’s stock worth $2,235,000 after purchasing an additional 16,272 shares during the last quarter. Legal & General Group Plc lifted its stake in PennyMac Mortgage Investment Trust by 4.4% in the second quarter. Legal & General Group Plc now owns 170,415 shares of the real estate investment trust’s stock valued at $3,239,000 after acquiring an additional 7,193 shares during the last quarter. TD Asset Management Inc. acquired a new stake in PennyMac Mortgage Investment Trust in the second quarter valued at $661,000. Raymond James Financial Services Advisors Inc. acquired a new stake in PennyMac Mortgage Investment Trust in the second quarter valued at $340,000. Finally, Centaurus Financial Inc. acquired a new stake in PennyMac Mortgage Investment Trust in the second quarter valued at $220,000. Institutional investors and hedge funds own 68.10% of the company’s stock.

A number of brokerages have commented on PMT. ValuEngine upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Credit Suisse Group increased their price target on shares of PennyMac Mortgage Investment Trust from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 25th. Wells Fargo & Co began coverage on shares of PennyMac Mortgage Investment Trust in a research note on Tuesday, September 18th. They issued a “market perform” rating and a $20.00 price target for the company. Finally, JMP Securities increased their price target on shares of PennyMac Mortgage Investment Trust from $20.00 to $21.00 and gave the company a “market outperform” rating in a research note on Friday, November 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. PennyMac Mortgage Investment Trust currently has a consensus rating of “Buy” and a consensus target price of $20.40.

Shares of PMT stock opened at $21.29 on Friday. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 2.53 and a beta of 0.41. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.44. PennyMac Mortgage Investment Trust has a one year low of $15.44 and a one year high of $21.35.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.25. The firm had revenue of $108.50 million during the quarter, compared to analysts’ expectations of $121.87 million. PennyMac Mortgage Investment Trust had a net margin of 40.40% and a return on equity of 10.64%. The company’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 earnings per share. As a group, equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.68 earnings per share for the current fiscal year.

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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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