State of New Jersey Common Pension Fund D Buys 17,747 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

State of New Jersey Common Pension Fund D grew its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 12.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 159,027 shares of the real estate investment trust’s stock after acquiring an additional 17,747 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PennyMac Mortgage Investment Trust were worth $2,002,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PMT. Geode Capital Management LLC boosted its holdings in 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 worth $28,838,000 after buying an additional 31,479 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of PennyMac Mortgage Investment Trust by 1.3% in the third 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 acquiring an additional 18,368 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of PennyMac Mortgage Investment Trust by 1.5% in the third quarter. JPMorgan Chase & Co. now owns 1,219,206 shares of the real estate investment trust’s stock worth $17,386,000 after acquiring an additional 18,122 shares during the period. Van ECK Associates Corp boosted its stake in shares of PennyMac Mortgage Investment Trust by 9.8% in the fourth quarter. Van ECK Associates Corp now owns 643,570 shares of the real estate investment trust’s stock worth $8,103,000 after acquiring an additional 57,281 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of PennyMac Mortgage Investment Trust by 18.2% during the third quarter. Principal Financial Group Inc. now owns 506,349 shares of the real estate investment trust’s stock worth $7,221,000 after acquiring an additional 77,955 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, JMP Securities reissued 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

PennyMac Mortgage Investment Trust Trading Up 0.6 %

Shares of NYSE PMT opened at $14.09 on Monday. 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 business has a fifty day simple moving average of $13.02 and a two-hundred day simple moving average of $13.50. The firm has a market cap of $1.22 billion, a PE ratio of 10.59 and a beta of 1.51. PennyMac Mortgage Investment Trust has a twelve month low of $11.77 and a twelve month high of $15.22.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 EPS for the quarter, beating 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%. 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 declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, December 27th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.36%. The ex-dividend date of this dividend was Friday, December 27th. PennyMac Mortgage Investment Trust’s payout ratio is 120.30%.

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.