Teacher Retirement System of Texas Sells 24,531 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Teacher Retirement System of Texas decreased its stake in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 41.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, Director Catherine A. Lynch purchased 2,878 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Thursday, April 24th. The shares were bought at an average cost of $12.15 per share, with a total value of $34,967.70. Following the completion of the purchase, the director directly owned 49,254 shares in the company, valued at approximately $598,436.10. This trade represents a 6.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is owned by company insiders.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT traded down $0.11 during trading hours on Thursday, reaching $12.66. 900,737 shares of the company's stock traded hands, compared to its average volume of 789,224. The stock has a market cap of $1.10 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.43 and a beta of 1.24. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.75. The firm's 50 day simple moving average is $12.67 and its 200-day simple moving average is $13.16. PennyMac Mortgage Investment Trust has a 12 month low of $11.77 and a 12 month high of $14.97.

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

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be issued a $0.40 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.60 annualized dividend and a yield of 12.64%. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is presently 172.04%.

Analyst Ratings Changes

Several research firms have recently issued reports on PMT. Wells Fargo & Company lowered their price objective on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Keefe, Bruyette & Woods lowered their price objective on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Jones Trading reaffirmed a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. Finally, UBS Group lowered their price objective on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Five 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.com, PennyMac Mortgage Investment Trust has a consensus rating of "Hold" and an average price target of $14.50.

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.