State of New Jersey Common Pension Fund D Has $2.02 Million Stock Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

State of New Jersey Common Pension Fund D grew its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 141,280 shares of the real estate investment trust’s stock after acquiring an additional 4,753 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.16% of PennyMac Mortgage Investment Trust worth $2,015,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PMT. Jane Street Group LLC grew its position in shares of PennyMac Mortgage Investment Trust by 124.7% during the 1st quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust’s stock worth $4,277,000 after purchasing an additional 161,723 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in PennyMac Mortgage Investment Trust by 173.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 155,309 shares of the real estate investment trust’s stock worth $2,280,000 after acquiring an additional 98,500 shares during the period. International Assets Investment Management LLC raised its holdings in PennyMac Mortgage Investment Trust by 1,607.2% in the 3rd quarter. International Assets Investment Management LLC now owns 367,908 shares of the real estate investment trust’s stock valued at $5,246,000 after acquiring an additional 346,358 shares in the last quarter. QRG Capital Management Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust during the 2nd quarter valued at $302,000. Finally, Dana Investment Advisors Inc. lifted its position in shares of PennyMac Mortgage Investment Trust by 40.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 427,941 shares of the real estate investment trust’s stock valued at $5,884,000 after acquiring an additional 123,890 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE:PMT opened at $13.06 on Friday. PennyMac Mortgage Investment Trust has a 52-week low of $12.81 and a 52-week high of $15.89. The company has a market capitalization of $1.13 billion, a PE ratio of 9.61 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.85 and a current ratio of 0.41. The company has a fifty day moving average of $13.88 and a 200-day moving average of $13.93.

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

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 12.25%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 117.65%.

Insiders Place Their Bets

In other news, Director Doug Jones sold 37,010 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total transaction of $518,510.10. Following the completion of the transaction, the director now owns 49,114 shares of the company’s stock, valued at approximately $688,087.14. This trade represents a 42.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.89% of the company’s stock.

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.