Louisiana State Employees Retirement System Buys Shares of 43,400 PennyMac Mortgage Investment Trust (NYSE:PMT)

Louisiana State Employees Retirement System bought a new stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 43,400 shares of the real estate investment trust’s stock, valued at approximately $649,000. Louisiana State Employees Retirement System owned approximately 0.05% of PennyMac Mortgage Investment Trust at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PMT. Allspring Global Investments Holdings LLC increased its holdings in PennyMac Mortgage Investment Trust by 16.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,858 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 1,115 shares in the last quarter. Oak Thistle LLC purchased a new position in PennyMac Mortgage Investment Trust during the 3rd quarter valued at about $125,000. Sherbrooke Park Advisers LLC purchased a new position in PennyMac Mortgage Investment Trust during the 3rd quarter valued at about $157,000. Axxcess Wealth Management LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter worth about $210,000. Finally, Inspire Investing LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter worth about $306,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. B. Riley lifted their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. JMP Securities restated a “market outperform” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They issued a “hold” rating and a $15.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and an average target price of $14.58.

PennyMac Mortgage Investment Trust Price Performance

PennyMac Mortgage Investment Trust stock opened at $14.10 on Monday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 9.40 and a beta of 1.48. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.28 and a current ratio of 0.34. PennyMac Mortgage Investment Trust has a 1 year low of $10.52 and a 1 year high of $15.89. The firm has a 50 day moving average price of $14.09 and a 200 day moving average price of $13.99.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 11.35%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 106.67%.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 7,810 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $14.34, for a total transaction of $111,995.40. Following the transaction, the director now directly owns 53,311 shares of the company’s stock, valued at $764,479.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.

About PennyMac Mortgage Investment Trust

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.