Vestcor Inc Boosts Stock Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

Vestcor Inc lifted its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 136.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,565 shares of the real estate investment trust's stock after acquiring an additional 41,300 shares during the quarter. Vestcor Inc owned approximately 0.08% of PennyMac Mortgage Investment Trust worth $1,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its position in PennyMac Mortgage Investment Trust by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust's stock valued at $601,000 after acquiring an additional 800 shares during the last quarter. Bank of New York Mellon Corp grew its stake in PennyMac Mortgage Investment Trust by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 792,354 shares of the real estate investment trust's stock worth $10,895,000 after purchasing an additional 9,506 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in PennyMac Mortgage Investment Trust during the second quarter worth approximately $177,000. TrueMark Investments LLC bought a new stake in PennyMac Mortgage Investment Trust in the second quarter worth approximately $498,000. Finally, Commonwealth Equity Services LLC lifted its stake in PennyMac Mortgage Investment Trust by 56.9% in the second quarter. Commonwealth Equity Services LLC now owns 63,423 shares of the real estate investment trust's stock valued at $872,000 after buying an additional 22,988 shares during the period. 67.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wedbush reaffirmed a "neutral" rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, PennyMac Mortgage Investment Trust has an average rating of "Moderate Buy" and a consensus price target of $15.17.

PennyMac Mortgage Investment Trust Stock Up 0.9 %

Shares of PennyMac Mortgage Investment Trust stock traded up $0.12 on Friday, hitting $13.56. The company had a trading volume of 434,274 shares, compared to its average volume of 718,592. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.85 and a beta of 1.50. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41. PennyMac Mortgage Investment Trust has a 1 year low of $12.81 and a 1 year high of $15.89. The stock has a 50 day moving average of $13.61 and a 200-day moving average of $13.79.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. The firm had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. During the same quarter in the previous year, the company earned $0.51 EPS. As a group, sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.80%. PennyMac Mortgage Investment Trust's payout ratio is presently 117.65%.

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.