California Public Employees Retirement System trimmed its stake in PennyMac Mortgage Investment Trust (NYSE:PMT) by 5.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 351,400 shares of the real estate investment trust’s stock after selling 21,000 shares during the period. California Public Employees Retirement System owned approximately 0.53% of PennyMac Mortgage Investment Trust worth $6,427,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PMT. Ameritas Investment Partners Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $104,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $184,000. Jane Street Group LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 1st quarter valued at approximately $190,000. Neuberger Berman Group LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at approximately $201,000. Finally, Creative Planning lifted its stake in shares of PennyMac Mortgage Investment Trust by 19.1% in the 2nd 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 last quarter. 62.48% of the stock is owned by institutional investors and hedge funds.

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PMT has been the subject of several analyst reports. Zacks Investment Research lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, August 30th. BidaskClub lowered PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Keefe, Bruyette & Woods lowered PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $19.00 to $18.00 in a research note on Tuesday, October 10th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and an average target price of $17.00.

In related news, insider David Spector sold 18,750 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $17.61, for a total value of $330,187.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 56,250 shares of company stock valued at $982,500 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) opened at 16.95 on Friday. The company’s 50 day moving average price is $17.17 and its 200-day moving average price is $17.60. PennyMac Mortgage Investment Trust has a 52 week low of $14.71 and a 52 week high of $18.46. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 10.13 and a beta of 0.49.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.05). The business had revenue of $83.96 million during the quarter, compared to analysts’ expectations of $80.12 million. PennyMac Mortgage Investment Trust had a return on equity of 8.67% and a net margin of 37.97%. The company’s revenue was up 76.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Analysts anticipate that PennyMac Mortgage Investment Trust will post $1.60 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, October 13th will be given a $0.47 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.88 annualized dividend and a yield of 11.09%. PennyMac Mortgage Investment Trust’s payout ratio is 109.94%.

About PennyMac Mortgage Investment Trust

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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