Illinois Municipal Retirement Fund Sells 1,878 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Illinois Municipal Retirement Fund reduced its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,250 shares of the real estate investment trust’s stock after selling 1,878 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of PennyMac Mortgage Investment Trust worth $751,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. increased its holdings in PennyMac Mortgage Investment Trust by 4.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,571,966 shares of the real estate investment trust’s stock valued at $23,501,000 after buying an additional 64,055 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 6.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,299,582 shares of the real estate investment trust’s stock valued at $16,115,000 after purchasing an additional 78,311 shares during the last quarter. Invesco Ltd. grew its holdings in shares of PennyMac Mortgage Investment Trust by 2.8% during the 3rd quarter. Invesco Ltd. now owns 1,213,989 shares of the real estate investment trust’s stock valued at $15,053,000 after purchasing an additional 32,803 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of PennyMac Mortgage Investment Trust by 4.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 646,236 shares of the real estate investment trust’s stock valued at $8,013,000 after purchasing an additional 28,370 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of PennyMac Mortgage Investment Trust by 4.0% during the 3rd quarter. Van ECK Associates Corp now owns 453,847 shares of the real estate investment trust’s stock valued at $5,628,000 after purchasing an additional 17,273 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PMT shares. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 18th. Wedbush reaffirmed a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Monday. Deutsche Bank Aktiengesellschaft began coverage on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, January 10th. They set a “hold” rating and a $15.00 price target on the stock. Finally, B. Riley lifted their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.75.

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 that occurred on Monday, March 11th. The shares were sold at an average price of $14.34, for a total value of $111,995.40. Following the transaction, the director now owns 53,311 shares in the company, valued at approximately $764,479.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Stock Down 0.6 %

NYSE:PMT opened at $14.02 on Tuesday. The firm’s 50 day simple moving average is $14.10 and its 200 day simple moving average is $14.01. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.28. PennyMac Mortgage Investment Trust has a one year low of $10.52 and a one year high of $15.89. The company has a market cap of $1.22 billion, a PE ratio of 9.34 and a beta of 1.48.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.60 annualized dividend and a yield of 11.42%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 106.67%.

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.