Vestcor Inc Has $520,000 Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Vestcor Inc decreased its stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 42.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,300 shares of the real estate investment trust's stock after selling 30,265 shares during the quarter. Vestcor Inc's holdings in PennyMac Mortgage Investment Trust were worth $520,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,021,922 shares of the real estate investment trust's stock valued at $28,838,000 after purchasing an additional 31,479 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of PennyMac Mortgage Investment Trust by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,520,394 shares of the real estate investment trust's stock valued at $19,142,000 after purchasing an additional 63,781 shares during the period. JPMorgan Chase & Co. boosted its position in shares of PennyMac Mortgage Investment Trust by 1.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,219,206 shares of the real estate investment trust's stock valued at $17,386,000 after purchasing an additional 18,122 shares during the period. Van ECK Associates Corp boosted its position in shares of PennyMac Mortgage Investment Trust by 9.8% in the 4th quarter. Van ECK Associates Corp now owns 643,570 shares of the real estate investment trust's stock valued at $8,103,000 after purchasing an additional 57,281 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of PennyMac Mortgage Investment Trust by 5.8% in the 4th quarter. Principal Financial Group Inc. now owns 535,899 shares of the real estate investment trust's stock valued at $6,747,000 after purchasing an additional 29,550 shares during the period. Institutional investors and hedge funds own 67.38% of the company's stock.

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Insider Activity

In related news, Director Doug Jones sold 14,530 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the sale, the director now directly owns 64,082 shares in the company, valued at approximately $929,189. The trade was a 18.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is owned by corporate insiders.

PennyMac Mortgage Investment Trust Stock Up 0.9 %

NYSE:PMT traded up $0.13 on Thursday, hitting $14.77. 583,098 shares of the company's stock traded hands, compared to its average volume of 736,117. 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 $15.22. The firm has a 50-day moving average price of $13.61 and a 200-day moving average price of $13.60. The company has a market cap of $1.28 billion, a PE ratio of 11.10 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. Equities analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 10.84%. PennyMac Mortgage Investment Trust's dividend payout ratio is 120.30%.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a "market outperform" rating and set a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.20.

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.