PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 41.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,491 shares of the real estate investment trust's stock after selling 24,531 shares during the period. Teacher Retirement System of Texas' holdings in PennyMac Mortgage Investment Trust were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 204.0% during the first quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 1,363 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $36,000. Sandy Spring Bank bought a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $49,000. Murphy & Mullick Capital Management Corp bought a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $118,000. Finally, Proficio Capital Partners LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at approximately $139,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Catherine A. Lynch bought 2,878 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Thursday, April 24th. The stock was acquired at an average cost of $12.15 per share, with a total value of $34,967.70. Following the purchase, the director directly owned 49,254 shares in the company, valued at $598,436.10. This represents a 6.21% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PMT. UBS Group dropped their price objective on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their price objective on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Jones Trading reissued a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. Finally, Wells Fargo & Company reduced their price target on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $14.50.

PennyMac Mortgage Investment Trust Stock Performance

PennyMac Mortgage Investment Trust stock traded down $0.13 during trading hours on Friday, hitting $12.50. 1,062,704 shares of the stock traded hands, compared to its average volume of 791,743. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.63 and a quick ratio of 0.63. The firm's 50 day moving average price is $12.67 and its 200-day moving average price is $13.17. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.43 and a beta of 1.24. PennyMac Mortgage Investment Trust has a 1 year low of $11.77 and a 1 year high of $14.93.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.39). PennyMac Mortgage Investment Trust had a net margin of 40.42% and a return on equity of 8.87%. The firm had revenue of $44.47 million for the quarter, compared to analysts' expectations of $94.36 million. During the same quarter in the previous year, the firm posted $0.39 EPS. As a group, equities analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.80%. PennyMac Mortgage Investment Trust's payout ratio is 172.04%.

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.