New York State Teachers Retirement System Trims Stake in PennyMac Mortgage Investment Trust $PMT

New York State Teachers Retirement System decreased its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 8.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 127,214 shares of the real estate investment trust’s stock after selling 11,978 shares during the period. New York State Teachers Retirement System’s holdings in PennyMac Mortgage Investment Trust were worth $1,636,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 0.3% during 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 period. Voya Investment Management LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 71.7% during the 1st quarter. Voya Investment Management LLC now owns 155,481 shares of the real estate investment trust’s stock worth $2,278,000 after acquiring an additional 64,912 shares during the period. GAMMA Investing LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 204.0% during the 1st quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 1,363 shares during the period. Jump Financial LLC purchased a new position in shares of PennyMac Mortgage Investment Trust during the 1st quarter worth approximately $1,383,000. Finally, Caxton Associates LLP purchased a new position in shares of PennyMac Mortgage Investment Trust during the 1st quarter worth approximately $1,331,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT opened at $12.68 on Thursday. The business’s fifty day simple moving average is $12.20 and its two-hundred day simple moving average is $12.47. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 3.82. PennyMac Mortgage Investment Trust has a 12 month low of $11.60 and a 12 month high of $14.93. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 2.86 and a beta of 1.29.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Tuesday, October 21st. The real estate investment trust reported $0.55 EPS for the quarter, beating the consensus estimate of $0.36 by $0.19. PennyMac Mortgage Investment Trust had a return on equity of 8.97% and a net margin of 37.92%.The business had revenue of $99.23 million for the quarter, compared to the consensus estimate of $97.91 million. Research 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 firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 12.6%. The ex-dividend date is Friday, October 10th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 222.22%.

Insider Buying and Selling

In other PennyMac Mortgage Investment Trust news, Director Catherine A. Lynch bought 2,823 shares of the business’s stock in a transaction on 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 purchase, the director owned 54,711 shares in the company, valued at approximately $657,626.22. This trade represents a 5.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods downgraded PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $14.50 to $13.50 in a research note on Friday, July 25th. Weiss Ratings restated a “sell (d+)” rating on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, October 8th. Zacks Research downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research note on Monday, September 22nd. Finally, Wells Fargo & Company assumed coverage on PennyMac Mortgage Investment Trust in a research note on Monday, August 25th. They issued an “equal weight” rating and a $13.00 price target on the stock. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $14.00.

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.