Ironsides Asset Advisors Lowers stake in PennyMac Mortgage Investment Trust (PMT)

PennyMac Mortgage Investment Trust (PMT) : Ironsides Asset Advisors reduced its stake in PennyMac Mortgage Investment Trust by 5.31% during the most recent quarter end. The investment management company now holds a total of 69,902 shares of PennyMac Mortgage Investment Trust which is valued at $1,068,103 after selling 3,920 shares in PennyMac Mortgage Investment Trust , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.PennyMac Mortgage Investment Trust makes up approximately 0.31% of Ironsides Asset Advisors’s portfolio.

Other Hedge Funds, Including , Tower Research Capital (trc) boosted its stake in PMT in the latest quarter, The investment management firm added 2,532 additional shares and now holds a total of 2,670 shares of PennyMac Mortgage Investment Trust which is valued at $40,798. Finemark National Bank Trust added PMT to its portfolio by purchasing 1,000 company shares during the most recent quarter which is valued at $15,380.California State Teachers Retirement System reduced its stake in PMT by selling 15,097 shares or 9.55% in the most recent quarter. The Hedge Fund company now holds 142,933 shares of PMT which is valued at $2,344,101.Smithfield Trust Co reduced its stake in PMT by selling 110 shares or 7.1% in the most recent quarter. The Hedge Fund company now holds 1,439 shares of PMT which is valued at $23,355.Shell Asset Management Co reduced its stake in PMT by selling 3,922 shares or 5.39% in the most recent quarter. The Hedge Fund company now holds 68,899 shares of PMT which is valued at $1,118,920. PennyMac Mortgage Investment Trust makes up approx 0.03% of Shell Asset Management Co’s portfolio.

PennyMac Mortgage Investment Trust closed down -0.08 points or -0.53% at $15.08 with 3,24,232 shares getting traded on Friday. Post opening the session at $15.14, the shares hit an intraday low of $15.01 and an intraday high of $15.14 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, PennyMac Mortgage Investment Trust reported $0.08 EPS for the quarter, missing the analyst consensus estimate by $ -0.30 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.38. The company had revenue of $47.60 million for the quarter, compared to analysts expectations of $67.85 million. The company’s revenue was down -31.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.36 EPS.

Many Wall Street Analysts have commented on PennyMac Mortgage Investment Trust. PennyMac Mortgage Investment Trust was Downgraded by BofA/Merrill to ” Underperform” on Jul 12, 2016.

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations and makes all of its investments through PennyMac Operating Partnership L.P. and its subsidiaries. The Company operates through two segments. The correspondent production segment represents the Company’s operations aimed at serving as an intermediary between mortgage lenders and the capital markets by purchasing pooling and reselling newly originated prime credit quality mortgage loans either directly or in the form of mortgage-backed securities (MBS) using the services of PNMAC Capital Management and PennyMac Loan Services LLC. The investment activities segment represents the Company’s investments in mortgage-related assets which include distressed mortgage loans real estate acquired in settlement of loans MBS mortgage servicing rights and excess servicing spread.

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