PennyMac Mortgage Investment Trust $PMT Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 15.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,137 shares of the real estate investment trust’s stock after selling 5,354 shares during the quarter. Teacher Retirement System of Texas’ holdings in PennyMac Mortgage Investment Trust were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of PennyMac Mortgage Investment Trust by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 9,623,312 shares of the real estate investment trust’s stock worth $140,982,000 after acquiring an additional 30,334 shares during the last quarter. Voya Investment Management LLC increased its holdings in PennyMac Mortgage Investment Trust by 71.7% in the 1st quarter. Voya Investment Management LLC now owns 155,481 shares of the real estate investment trust’s stock valued at $2,278,000 after purchasing an additional 64,912 shares during the last quarter. Caxton Associates LLP purchased a new stake in PennyMac Mortgage Investment Trust in the first quarter valued at approximately $1,331,000. Jump Financial LLC acquired a new position in PennyMac Mortgage Investment Trust during the first quarter worth $1,383,000. Finally, Public Sector Pension Investment Board boosted its position in shares of PennyMac Mortgage Investment Trust by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 275,423 shares of the real estate investment trust’s stock worth $4,035,000 after buying an additional 59,008 shares during the period. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Price Performance

PMT stock opened at $12.20 on Tuesday. The business’s 50-day moving average is $12.22 and its two-hundred day moving average is $12.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.57 and a quick ratio of 0.80. The firm has a market capitalization of $1.06 billion, a P/E ratio of 13.41, a P/E/G ratio of 2.73 and a beta of 1.29. PennyMac Mortgage Investment Trust has a 1 year low of $11.60 and a 1 year high of $14.93.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.19. The firm had revenue of $99.23 million for the quarter, compared to analyst estimates of $97.91 million. PennyMac Mortgage Investment Trust had a net margin of 37.92% and a return on equity of 9.01%. Analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 10th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.1%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 175.82%.

Analyst Upgrades and Downgrades

PMT has been the topic of several research analyst reports. Keefe, Bruyette & Woods downgraded PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $14.50 to $13.50 in a report on Friday, July 25th. UBS Group boosted their price target on shares of PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Weiss Ratings reissued a “sell (d+)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, October 8th. Wells Fargo & Company started coverage on shares of PennyMac Mortgage Investment Trust in a research note on Monday, August 25th. They issued an “equal weight” rating and a $13.00 price objective for the company. Finally, Zacks Research raised shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust has a consensus rating of “Hold” and a consensus price target of $13.88.

Insider Activity at PennyMac Mortgage Investment Trust

In other news, Director Catherine A. Lynch acquired 2,823 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Monday, September 22nd. The shares were acquired at an average cost of $12.02 per share, for a total transaction of $33,932.46. Following the acquisition, the director owned 54,711 shares of the company’s stock, valued at $657,626.22. This trade represents a 5.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.92% of the company’s stock.

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.