California State Teachers Retirement System cut its holdings in PennyMac Mortgage Investment Trust (NYSE:PMT) by 12.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,956 shares of the real estate investment trust’s stock after selling 17,277 shares during the period. California State Teachers Retirement System owned about 0.17% of PennyMac Mortgage Investment Trust worth $2,139,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PMT. Campbell & CO Investment Adviser LLC bought a new position in shares of PennyMac Mortgage Investment Trust in the second quarter valued at approximately $184,000. M&T Bank Corp grew its holdings in PennyMac Mortgage Investment Trust by 4.8% during the second quarter. M&T Bank Corp now owns 10,900 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 500 shares during the period. Neuberger Berman Group LLC bought a new position in PennyMac Mortgage Investment Trust during the second quarter valued at $201,000. Creative Planning grew its holdings in PennyMac Mortgage Investment Trust by 19.1% during the second quarter. Creative Planning now owns 13,088 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 2,100 shares during the period. Finally, Principal Financial Group Inc. bought a new position in PennyMac Mortgage Investment Trust during the first quarter valued at $243,000. 63.86% of the stock is owned by institutional investors.

In other PennyMac Mortgage Investment Trust news, insider David Spector sold 18,750 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $16.91, for a total transaction of $317,062.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 75,000 shares of company stock worth $1,299,563. Company insiders own 1.80% of the company’s stock.

Several equities analysts have weighed in on PMT shares. Zacks Investment Research lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a report on Wednesday, August 30th. BidaskClub lowered PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Keefe, Bruyette & Woods lowered PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $19.00 to $18.00 in a report on Tuesday, October 10th. Finally, ValuEngine lowered PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and an average price target of $17.33.

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PennyMac Mortgage Investment Trust (PMT) opened at $15.39 on Tuesday. PennyMac Mortgage Investment Trust has a twelve month low of $14.87 and a twelve month high of $18.46. The firm has a market capitalization of $994.01, a price-to-earnings ratio of 10.68 and a beta of 0.54. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.18). The company had revenue of $75.80 million for the quarter, compared to analysts’ expectations of $81.72 million. PennyMac Mortgage Investment Trust had a return on equity of 7.59% and a net margin of 36.07%. The company’s revenue was down 26.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.06 EPS. equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.64 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Friday, October 13th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.88 annualized dividend and a dividend yield of 12.22%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 132.39%.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.

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Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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