California State Teachers Retirement System Has $1.02 Million Stock Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

California State Teachers Retirement System lowered its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,146 shares of the real estate investment trust’s stock after selling 1,028 shares during the quarter. California State Teachers Retirement System owned approximately 0.09% of PennyMac Mortgage Investment Trust worth $1,022,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. AlphaCore Capital LLC increased its position in shares of PennyMac Mortgage Investment Trust by 54.4% during the 4th quarter. AlphaCore Capital LLC now owns 36,865 shares of the real estate investment trust’s stock worth $479,000 after purchasing an additional 12,995 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of PennyMac Mortgage Investment Trust by 196.9% during the 4th quarter. Mackenzie Financial Corp now owns 40,267 shares of the real estate investment trust’s stock worth $507,000 after purchasing an additional 26,703 shares in the last quarter. ProShare Advisors LLC increased its position in shares of PennyMac Mortgage Investment Trust by 44.5% during the 4th quarter. ProShare Advisors LLC now owns 26,189 shares of the real estate investment trust’s stock worth $330,000 after purchasing an additional 8,061 shares in the last quarter. Millennium Management LLC increased its position in shares of PennyMac Mortgage Investment Trust by 99.4% during the 4th quarter. Millennium Management LLC now owns 153,974 shares of the real estate investment trust’s stock worth $1,939,000 after purchasing an additional 76,751 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PennyMac Mortgage Investment Trust by 9.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 777,712 shares of the real estate investment trust’s stock worth $9,791,000 after purchasing an additional 66,371 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Insider Activity

In other PennyMac Mortgage Investment Trust news, Director Catherine A. Lynch bought 2,878 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Thursday, April 24th. The shares were bought at an average price of $12.15 per share, with a total value of $34,967.70. Following the purchase, the director now owns 49,254 shares of the company’s stock, valued at $598,436.10. This trade represents a 6.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PMT shares. Wells Fargo & Company decreased their price objective on shares of PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, May 2nd. Keefe, Bruyette & Woods decreased their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an “outperform” rating on the stock in a report on Thursday, April 24th. UBS Group decreased their price objective on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Finally, Jones Trading reissued a “hold” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, PennyMac Mortgage Investment Trust has an average rating of “Hold” and an average target price of $14.50.

PennyMac Mortgage Investment Trust Stock Up 2.0%

Shares of NYSE PMT opened at $12.76 on Wednesday. The firm has a market capitalization of $1.11 billion, a PE ratio of 9.59 and a beta of 1.27. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. PennyMac Mortgage Investment Trust has a 1 year low of $11.77 and a 1 year high of $14.98. The firm’s 50-day moving average is $12.69 and its 200-day moving average is $13.26.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.39). The business had revenue of $44.47 million during the quarter, compared to the consensus estimate of $94.36 million. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. During the same period last year, the business posted $0.39 EPS. Equities analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

About PennyMac Mortgage Investment Trust

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.