PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 13.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,347 shares of the real estate investment trust’s stock after selling 3,985 shares during the period. Maryland State Retirement & Pension System’s holdings in PennyMac Mortgage Investment Trust were worth $371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Deutsche Bank AG raised its position in shares of PennyMac Mortgage Investment Trust by 44.5% during the 4th quarter. Deutsche Bank AG now owns 77,555 shares of the real estate investment trust’s stock worth $976,000 after acquiring an additional 23,874 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth about $1,300,000. Northern Trust Corp raised its position in shares of PennyMac Mortgage Investment Trust by 28.6% during the 4th quarter. Northern Trust Corp now owns 1,145,336 shares of the real estate investment trust’s stock worth $14,420,000 after acquiring an additional 254,581 shares in the last quarter. GAMMA Investing LLC raised its position in shares of PennyMac Mortgage Investment Trust by 4,354.2% during the 1st quarter. GAMMA Investing LLC now owns 29,754 shares of the real estate investment trust’s stock worth $436,000 after acquiring an additional 29,086 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of PennyMac Mortgage Investment Trust by 99.4% during the 4th quarter. Millennium Management LLC now owns 153,974 shares of the real estate investment trust’s stock worth $1,939,000 after acquiring an additional 76,751 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PMT. Keefe, Bruyette & Woods lowered PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $14.50 to $13.50 in a research report on Friday, July 25th. Jones Trading restated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. Finally, Wells Fargo & Company dropped their price target on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and a consensus price target of $14.00.

PennyMac Mortgage Investment Trust Trading Down 0.2%

NYSE:PMT opened at $12.16 on Friday. The stock’s 50 day moving average price is $12.53 and its 200 day moving average price is $13.12. The company has a market capitalization of $1.06 billion, a PE ratio of 16.89, a P/E/G ratio of 1.82 and a beta of 1.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 3.82. PennyMac Mortgage Investment Trust has a 52-week low of $11.70 and a 52-week high of $14.93.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.39). PennyMac Mortgage Investment Trust had a net margin of 34.65% and a return on equity of 7.68%. The company had revenue of $70.20 million during the quarter, compared to analysts’ expectations of $95.46 million. On average, research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 13.2%. The ex-dividend date was Friday, July 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 222.22%.

PennyMac Mortgage Investment Trust 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.