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Short Interest on PennyMac Mortgage Investment Trust (NYSE:PMT) Declines by 19.1%

PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) experienced a significant decline in short interest in December. As of December 30, a total of 3,470,000 shares were shorted, a 19.1% decrease from the December 15 total of 4,290,000 shares. Approximately 3.9% of the company’s shares are sold short. Based on an average trading volume of 1,070,000 shares, the short-term interest rate is currently 3.2 days.

Institutional inputs and outputs

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Several hedge funds have recently increased or reduced their holdings in the stock. Capital Square LLC raised its position in PennyMac Mortgage Investment Trust by 6.4% in the second quarter. Capital Square LLC now owns 11,886 shares of the real estate investment trust valued at $164,000 after purchasing an additional 710 shares last quarter. Rockefeller Capital Management LP improved its position in PennyMac Mortgage Investment Trust by 30.6% in the third quarter. Rockefeller Capital Management LP now owns 3,346 shares of the real estate investment trust valued at $38,000 after purchasing an additional 783 shares last quarter. CWM LLC improved its position in PennyMac Mortgage Investment Trust by 78.6% in the second quarter. CWM LLC now owns 1,918 shares of the real estate investment trust valued at $27,000 after purchasing an additional 844 shares last quarter. Catalyst Capital Advisors LLC improved its position in PennyMac Mortgage Investment Trust by 19.1% in the third quarter. Catalyst Capital Advisors LLC now owns 5,290 shares of the real estate investment trust valued at $62,000 after purchasing an additional 850 shares last quarter. Finally, PNC Financial Services Group Inc. raised its position in PennyMac Mortgage Investment Trust by 3.6% in the first quarter. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust valued at $548,000 after purchasing an additional 1,137 shares during the last quarter. 71.21% of the shares are owned by institutional investors and hedge funds.

Wall Street analysts forecast growth

PMT has been the subject of several recent research reports. StockNews.com began coverage of PennyMac Mortgage Investment Trust shares in a research report on Wednesday, October 12. They issued a “sell” rating for the company. BTIG Research lowered its price target on PennyMac Mortgage Investment Trust shares to $16.00 in a Monday, December 12, report. Barclays lowered the price target on PennyMac Mortgage Investment Trust shares to $14.00 from $18.00 in a report on Friday, January 6. B. Riley raised the price target on PennyMac Mortgage Investment Trust shares to $16.00 from $15.00 in a Monday, November 21, report. Finally, Credit Suisse Group lowered the price target on PennyMac Mortgage Investment Trust shares to $15.00 in a Thursday, October 13, report. One equity research analyst gave the stock a sell rating, two issued a hold rating and three issued a buy rating for the stock. According to MarketBeat.com data, PennyMac Mortgage Investment Trust currently has a “Hold” consensus rating and an average price target of $15.64.

PennyMac Mortgage Investment Trust Price Performance

PMT shares opened at $14.55 on Friday. The company has a market capitalization of $1.29 billion, a P/E ratio of -9.90, and a beta of 1.33. The firm has a debt to equity ratio of 1.35, a current ratio of 0.45, and a quick ratio of 0.45. PennyMac Mortgage Investment Trust has a 1-year minimum of $10.78 and a 1-year maximum of $18.67. The company has a fifty day moving average of $14.24 and a two hundred day moving average of $14.08.

PennyMac Mortgage Investment Trust cuts dividends

The company also recently revealed a quarterly dividend, to be paid on Friday, January 27. Shareholders of record on Friday, December 30 will receive a dividend of $0.40 per share. This represents an annualized dividend of $1.60 and a yield of 11.00%. The ex-dividend date is Thursday, December 29. The dividend payout ratio for PennyMac Mortgage Investment Trust is currently -108.84%.

PennyMac Mortgage Investment Trust Company Profile

(Get rating)

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

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