Teacher Retirement System of Texas Sells 24,531 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Teacher Retirement System of Texas decreased its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 41.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,491 shares of the real estate investment trust’s stock after selling 24,531 shares during the quarter. Teacher Retirement System of Texas’ holdings in PennyMac Mortgage Investment Trust were worth $505,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 167.5% during the fourth quarter. Invesco Ltd. now owns 2,173,869 shares of the real estate investment trust’s stock worth $27,369,000 after buying an additional 1,361,282 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in PennyMac Mortgage Investment Trust by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,520,394 shares of the real estate investment trust’s stock worth $19,142,000 after acquiring an additional 63,781 shares during the period. Northern Trust Corp raised its stake in PennyMac Mortgage Investment Trust by 28.6% during the 4th quarter. Northern Trust Corp now owns 1,145,336 shares of the real estate investment trust’s stock valued at $14,420,000 after purchasing an additional 254,581 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in PennyMac Mortgage Investment Trust by 9.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 777,712 shares of the real estate investment trust’s stock valued at $9,791,000 after purchasing an additional 66,371 shares during the period. Finally, First Trust Advisors LP boosted its holdings in PennyMac Mortgage Investment Trust by 5.5% in the 4th quarter. First Trust Advisors LP now owns 772,213 shares of the real estate investment trust’s stock valued at $9,722,000 after purchasing an additional 40,270 shares during the period. Institutional investors own 67.38% of the company’s stock.

Insider Transactions at PennyMac Mortgage Investment Trust

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

PennyMac Mortgage Investment Trust Stock Up 1.7%

PMT opened at $12.75 on Thursday. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.43 and a beta of 1.24. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.63 and a current ratio of 0.63. The firm’s 50-day simple moving average is $12.67 and its 200-day simple moving average is $13.16. PennyMac Mortgage Investment Trust has a twelve month low of $11.77 and a twelve month high of $14.98.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.39). The firm had revenue of $44.47 million for the quarter, compared to analyst estimates of $94.36 million. PennyMac Mortgage Investment Trust had a return on equity of 8.87% and a net margin of 40.42%. During the same period in the previous year, the business posted $0.39 EPS. Equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.60 dividend on an annualized basis and a yield of 12.55%. PennyMac Mortgage Investment Trust’s dividend payout ratio is 172.04%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PMT shares. Jones Trading reissued a “hold” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. UBS Group decreased their price target on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company dropped their price objective on shares of PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an “outperform” rating for the company 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 company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.50.

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.