Teacher Retirement System of Texas trimmed its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 34.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,022 shares of the real estate investment trust's stock after selling 31,694 shares during the quarter. Teacher Retirement System of Texas owned about 0.07% of PennyMac Mortgage Investment Trust worth $743,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc increased its stake in shares of PennyMac Mortgage Investment Trust by 58.0% in the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 822 shares during the period. Rhumbline Advisers grew its holdings in PennyMac Mortgage Investment Trust by 0.4% in the 4th quarter. Rhumbline Advisers now owns 264,702 shares of the real estate investment trust's stock worth $3,333,000 after buying an additional 1,001 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in PennyMac Mortgage Investment Trust in the 3rd quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at approximately $25,000. Finally, Principal Securities Inc. raised its stake in PennyMac Mortgage Investment Trust by 2,042.9% during the 4th quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 2,288 shares in the last quarter. 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 Doug Jones sold 14,530 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total transaction of $210,685.00. Following the completion of the sale, the director now directly owns 64,082 shares of the company's stock, valued at approximately $929,189. This represents a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.89% of the company's stock.
Analysts Set New Price Targets
Separately, JMP Securities reiterated a "market outperform" rating and issued a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.20.
Get Our Latest Stock Analysis on PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust Price Performance
NYSE:PMT traded down $0.31 during mid-day trading on Thursday, reaching $14.28. 249,199 shares of the stock were exchanged, compared to its average volume of 724,655. PennyMac Mortgage Investment Trust has a 1-year low of $11.77 and a 1-year high of $15.22. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $1.24 billion, a PE ratio of 10.73 and a beta of 1.51. The business has a fifty day moving average price of $14.05 and a 200 day moving average price of $13.65.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. Research analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.
PennyMac Mortgage Investment Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.21%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is presently 120.30%.
PennyMac Mortgage Investment Trust Profile
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Free Report)
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.
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