PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 32.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,527 shares of the real estate investment trust’s stock after selling 65,364 shares during the period. State of New Jersey Common Pension Fund D owned about 0.16% of PennyMac Mortgage Investment Trust worth $1,877,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Victory Capital Management Inc. increased its stake in PennyMac Mortgage Investment Trust by 16.0% in the fourth quarter. Victory Capital Management Inc. now owns 17,702 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 2,439 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in PennyMac Mortgage Investment Trust by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,360,869 shares of the real estate investment trust’s stock worth $20,345,000 after acquiring an additional 61,287 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in PennyMac Mortgage Investment Trust by 180.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 48,047 shares of the real estate investment trust’s stock valued at $718,000 after acquiring an additional 30,914 shares during the last quarter. Norges Bank acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at $9,781,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter worth about $258,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the sale, the director now owns 49,114 shares of the company’s stock, valued at $688,087.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 2,879 shares of company stock worth $39,028 over the last three months. 0.89% of the stock is currently owned by corporate insiders.

PennyMac Mortgage Investment Trust Stock Down 0.8 %

Shares of PennyMac Mortgage Investment Trust stock opened at $14.26 on Monday. PennyMac Mortgage Investment Trust has a one year low of $10.52 and a one year high of $15.89. The company has a market cap of $1.24 billion, a P/E ratio of 9.51 and a beta of 1.51. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a fifty day moving average of $13.91 and a two-hundred day moving average of $14.01.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.17). The firm had revenue of $71.20 million for the quarter, compared to analysts’ expectations of $90.26 million. PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. During the same period in the prior year, the company earned $0.16 earnings per share. On average, analysts forecast that PennyMac Mortgage Investment Trust will post 1.27 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a $0.40 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 11.22%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 106.67%.

Analyst Ratings Changes

PMT has been the subject of several research reports. Piper Sandler reduced their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a report on Wednesday, July 24th. JMP Securities increased their price objective on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Wedbush reaffirmed a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, July 25th. Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Finally, B. Riley reissued a “buy” rating and set a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust presently has an average rating of “Hold” and a consensus price target of $14.93.

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.