PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Sold by Vestcor Inc

Vestcor Inc lessened its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 42.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,300 shares of the real estate investment trust’s stock after selling 30,265 shares during the period. Vestcor Inc’s holdings in PennyMac Mortgage Investment Trust were worth $520,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of 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 acquiring an additional 31,479 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of PennyMac Mortgage Investment Trust by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,520,394 shares of the real estate investment trust’s stock worth $19,142,000 after acquiring an additional 63,781 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of PennyMac Mortgage Investment Trust by 1.5% in the 3rd 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 increased its holdings in shares of PennyMac Mortgage Investment Trust by 9.8% in the 4th 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. increased its holdings in shares of PennyMac Mortgage Investment Trust by 5.8% in the 4th quarter. Principal Financial Group Inc. now owns 535,899 shares of the real estate investment trust’s stock worth $6,747,000 after acquiring an additional 29,550 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

Insider Activity

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the transaction, the director now directly owns 64,082 shares in the company, valued at $929,189. This trade represents a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JMP Securities reissued a “market outperform” rating and set a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.20.

PennyMac Mortgage Investment Trust Stock Up 1.8 %

PennyMac Mortgage Investment Trust stock opened at $14.52 on Monday. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 10.91 and a beta of 1.51. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $13.48 and its two-hundred day moving average price is $13.58. PennyMac Mortgage Investment Trust has a 52 week low of $11.77 and a 52 week high of $15.22.

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

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 11.02%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 120.30%.

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.