Louisiana State Employees Retirement System Takes Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Louisiana State Employees Retirement System bought a new stake in PennyMac Mortgage Investment Trust (NYSE:PMT) during the fourth quarter, Holdings Channel reports. The institutional investor bought 43,400 shares of the real estate investment trust’s stock, valued at approximately $649,000.

A number of other large investors also recently made changes to their positions in PMT. SG Americas Securities LLC acquired a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $613,000. Oak Thistle LLC acquired a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $125,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of PennyMac Mortgage Investment Trust by 4.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 646,236 shares of the real estate investment trust’s stock valued at $8,013,000 after purchasing an additional 28,370 shares during the period. Inspire Investing LLC acquired a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $306,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in PennyMac Mortgage Investment Trust by 16.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 1,115 shares during the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Price Performance

NYSE PMT opened at $14.10 on Monday. The company has a current ratio of 0.34, a quick ratio of 0.28 and a debt-to-equity ratio of 1.37. The company has a fifty day simple moving average of $14.09 and a 200 day simple moving average of $13.99. The company has a market cap of $1.22 billion, a P/E ratio of 9.40 and a beta of 1.48. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 11.35%. The ex-dividend date was Thursday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 106.67%.

Insider Buying and Selling

In related news, Director Doug Jones sold 7,810 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $14.34, for a total transaction of $111,995.40. Following the completion of the sale, the director now directly owns 53,311 shares of the company’s stock, valued at approximately $764,479.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PMT shares. B. Riley increased their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. JMP Securities restated a “market outperform” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, January 10th. They set a “hold” rating and a $15.00 price target on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.58.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.