Teacher Retirement System of Texas Sells 31,694 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Teacher Retirement System of Texas cut its stake in PennyMac Mortgage Investment Trust (NYSE:PMT) by 34.9% during the fourth quarter, HoldingsChannel reports. The fund 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’ holdings in PennyMac Mortgage Investment Trust were worth $743,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PMT. Intech Investment Management LLC raised its holdings in PennyMac Mortgage Investment Trust by 126.9% in the third quarter. Intech Investment Management LLC now owns 38,944 shares of the real estate investment trust’s stock worth $555,000 after purchasing an additional 21,777 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PennyMac Mortgage Investment Trust by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,456,613 shares of the real estate investment trust’s stock worth $20,771,000 after buying an additional 18,368 shares during the last quarter. Citigroup Inc. raised its stake in shares of PennyMac Mortgage Investment Trust by 43.2% during the 3rd quarter. Citigroup Inc. now owns 407,660 shares of the real estate investment trust’s stock worth $5,813,000 after acquiring an additional 123,079 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in PennyMac Mortgage Investment Trust by 90.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,436 shares of the real estate investment trust’s stock valued at $2,487,000 after acquiring an additional 82,735 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in PennyMac Mortgage Investment Trust by 56.1% in the third quarter. HighTower Advisors LLC now owns 32,023 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 11,509 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Doug Jones sold 14,530 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the sale, the director now owns 64,082 shares in the company, valued at $929,189. This represents a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Down 0.8 %

PMT stock opened at $14.65 on Monday. The stock has a market capitalization of $1.27 billion, a PE ratio of 11.01 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 52 week low of $11.77 and a 52 week high of $15.22. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $13.94 and a 200 day moving average of $13.63.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 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%. Sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, April 11th. This represents a $1.60 annualized dividend and a yield of 10.92%. PennyMac Mortgage Investment Trust’s payout ratio is presently 120.30%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reiterated a “market outperform” rating and set a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.20.

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.