New York State Teachers Retirement System Increases Stake in PennyMac Mortgage Investment Trust (NYSE:PMT)

New York State Teachers Retirement System lifted its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 54.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,424 shares of the real estate investment trust’s stock after buying an additional 25,417 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of PennyMac Mortgage Investment Trust worth $1,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in PMT. Thornburg Investment Management Inc. boosted its stake in PennyMac Mortgage Investment Trust by 4.8% during the first quarter. Thornburg Investment Management Inc. now owns 2,073,516 shares of the real estate investment trust’s stock worth $42,943,000 after acquiring an additional 94,701 shares in the last quarter. LSV Asset Management boosted its stake in PennyMac Mortgage Investment Trust by 0.5% during the first quarter. LSV Asset Management now owns 1,377,010 shares of the real estate investment trust’s stock worth $28,517,000 after acquiring an additional 6,300 shares in the last quarter. Norges Bank bought a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth about $18,005,000. Acadian Asset Management LLC boosted its stake in PennyMac Mortgage Investment Trust by 29.6% during the first quarter. Acadian Asset Management LLC now owns 832,070 shares of the real estate investment trust’s stock worth $17,234,000 after acquiring an additional 189,869 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in PennyMac Mortgage Investment Trust by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 688,697 shares of the real estate investment trust’s stock worth $12,823,000 after acquiring an additional 54,413 shares in the last quarter. Institutional investors own 70.70% of the company’s stock.

Shares of PennyMac Mortgage Investment Trust stock opened at $21.77 on Tuesday. The company has a market capitalization of $1.49 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 2.03 and a beta of 0.60. The firm’s 50 day moving average is $21.95. PennyMac Mortgage Investment Trust has a twelve month low of $17.88 and a twelve month high of $22.62. The company has a current ratio of 0.43, a quick ratio of 0.38 and a debt-to-equity ratio of 0.32.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. The company had revenue of $96.40 million for the quarter, compared to the consensus estimate of $104.95 million. PennyMac Mortgage Investment Trust had a net margin of 47.03% and a return on equity of 13.29%. During the same quarter in the prior year, the firm earned $0.70 earnings per share. As a group, equities research analysts predict that PennyMac Mortgage Investment Trust will post 2.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Monday, July 15th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.88 dividend on an annualized basis and a yield of 8.64%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 94.47%.

Several equities research analysts recently commented on PMT shares. Piper Jaffray Companies started coverage on shares of PennyMac Mortgage Investment Trust in a research note on Friday, May 24th. They set an “overweight” rating and a $23.00 price objective on the stock. Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research note on Wednesday, July 31st. Finally, Wedbush reiterated a “neutral” rating on shares of PennyMac Mortgage Investment Trust in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $22.25.

In related news, insider Jeffrey Grogin sold 1,862 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $18.69, for a total transaction of $34,800.78. Following the transaction, the insider now owns 36,642 shares in the company, valued at $684,838.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.45% of the stock is owned by corporate insiders.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

Further Reading: What is a CD ladder?

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

Receive News & Ratings for PennyMac Mortgage Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Mortgage Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.