Short interest in PennyMac Mortgage Investment Trust (NYSE: PMT ) increased by 19.2%

PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating ) saw a significant increase in short interest in June. As of June 15th, there was short interest totaling 3,670,000 shares, up 19.2% from May 31st’s total of 3,080,000 shares. Based on an average trading volume of 1,410,000 shares, the short interest ratio is currently 2.6 days. Approximately 4.0% of the company’s shares were sold short.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in shares of PennyMac Mortgage Investment Trust by 15.4% in the first quarter. Bank of America Corp DE now owns 317,695 shares of the real estate investment trust’s stock valued at $5,365,000 after buying an additional 42,466 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 8.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,379,006 shares of the real estate investment trust’s stock valued at $23,291,000 after purchasing an additional 106,963 shares in the last quarter. Eaton Vance Management boosted its holdings in shares of PennyMac Mortgage Investment Trust by 14.3% in the first quarter. Eaton Vance Management now owns 14,215 shares of the real estate investment trust’s stock valued at $239,000 after buying an additional 1,783 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 1.6% in the first quarter. Evergreen Capital Management LLC now owns 358,754 shares of the real estate investment trust’s stock valued at $6,059,000 after buying an additional 5,577 shares in the last quarter. Finally, Family Management Corp boosted its holdings in shares of PennyMac Mortgage Investment Trust by 29.9% in the first quarter. Family Management Corp now owns 31,933 shares of the real estate investment trust’s stock valued at $539,000 after buying an additional 7,348 shares during the last quarter. 70.77% of the shares are currently owned by hedge funds and other institutional investors.

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NYSE PMT traded up $0.23 during trading hours on Tuesday, reaching $14.57. The company’s stock had a trading volume of 39,548 shares, compared to its average volume of 1,789,309. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.38. The business has a 50-day simple moving average of $15.02 and a 200-day simple moving average of $16.09. PennyMac Mortgage Investment Trust has a 52-week low of $11.64 and a 52-week high of $21.11. The stock has a market cap of $1.42 billion, a PE ratio of -19.66 and a beta of 1.14.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 28th. Shareholders of record on Thursday, July 14th will be given a $0.47 dividend. The ex-dividend date is Wednesday, July 13th. This represents an annualized dividend of $1.88 and a yield of 12.90%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently -257.53%.

Several equities analysts recently commented on the stock. Credit Suisse Group reduced their target price on shares of PennyMac Mortgage Investment Trust to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, May 19th. Piper Sandler decreased their price objective on shares of PennyMac Mortgage Investment Trust from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 28th. StockNews.com lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Jonestrading cut their target price on shares of PennyMac Mortgage Investment Trust from $18.50 to $18.00 in a research report on Friday, May 6th. Finally, B. Riley reduced their target price on shares of PennyMac Mortgage Investment Trust from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.03, based on data from MarketBeat.

About PennyMac Mortgage Investment Trust (Get Rating)

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in mortgage-related assets in the United States. The Company’s Sensitive Credit Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate and non-agency subordinated bonds.

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