Louisiana State Employees Retirement System Sells 1,700 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Louisiana State Employees Retirement System decreased its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,000 shares of the real estate investment trust’s stock after selling 1,700 shares during the period. Louisiana State Employees Retirement System’s holdings in PennyMac Mortgage Investment Trust were worth $599,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC raised its position in PennyMac Mortgage Investment Trust by 251.8% during the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 5,015 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of PennyMac Mortgage Investment Trust in the first quarter worth about $149,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of PennyMac Mortgage Investment Trust in the first quarter worth about $157,000. Allspring Global Investments Holdings LLC purchased a new position in shares of PennyMac Mortgage Investment Trust in the second quarter worth about $177,000. Finally, Caxton Associates LP purchased a new position in shares of PennyMac Mortgage Investment Trust in the second quarter worth about $232,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler decreased their price objective on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. B. Riley reiterated a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. JMP Securities raised their target price on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods cut their target price on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Finally, Wedbush reissued a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.93.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT opened at $13.37 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.56. The business’s 50 day moving average price is $13.99 and its 200-day moving average price is $13.97. PennyMac Mortgage Investment Trust has a 52 week low of $12.81 and a 52 week high of $15.89. The stock has a market cap of $1.16 billion, a P/E ratio of 9.83 and a beta of 1.51.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. The company had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. During the same period in the prior year, the firm earned $0.51 earnings per share. Equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 11.97%. PennyMac Mortgage Investment Trust’s payout ratio is currently 117.65%.

Insider Buying and Selling

In related news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the transaction, the director now directly owns 49,114 shares in the company, valued at $688,087.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is owned by company insiders.

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.