Principal Financial Group Inc. Has $7.22 Million Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Principal Financial Group Inc. raised its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 18.2% in the third quarter, HoldingsChannel.com reports. The fund owned 506,349 shares of the real estate investment trust’s stock after purchasing an additional 77,955 shares during the quarter. Principal Financial Group Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $7,221,000 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 the business. International Assets Investment Management LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 1,607.2% during the third quarter. International Assets Investment Management LLC now owns 367,908 shares of the real estate investment trust’s stock worth $5,246,000 after purchasing an additional 346,358 shares during the period. Wolverine Asset Management LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 781.5% in the 2nd quarter. Wolverine Asset Management LLC now owns 224,113 shares of the real estate investment trust’s stock worth $3,082,000 after acquiring an additional 198,688 shares during the last quarter. Jane Street Group LLC boosted its holdings in PennyMac Mortgage Investment Trust by 124.7% during the 1st quarter. Jane Street Group LLC now owns 291,367 shares of the real estate investment trust’s stock worth $4,277,000 after acquiring an additional 161,723 shares during the last quarter. Millennium Management LLC boosted its stake in shares of PennyMac Mortgage Investment Trust by 223.1% in the 2nd quarter. Millennium Management LLC now owns 232,576 shares of the real estate investment trust’s stock worth $3,198,000 after buying an additional 160,595 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in PennyMac Mortgage Investment Trust by 34.4% during the second quarter. Van ECK Associates Corp now owns 622,133 shares of the real estate investment trust’s stock worth $8,554,000 after buying an additional 159,131 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

Insider Activity

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total transaction of $518,510.10. Following the sale, the director now directly owns 49,114 shares in the company, valued at approximately $688,087.14. This trade represents a 42.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.89% of the company’s stock.

PennyMac Mortgage Investment Trust Price Performance

Shares of PennyMac Mortgage Investment Trust stock opened at $13.20 on Wednesday. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 9.71 and a beta of 1.51. The company has a fifty day moving average of $13.86 and a 200-day moving average of $13.92. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41. PennyMac Mortgage Investment Trust has a 52-week low of $12.81 and a 52-week high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same period last year, the business earned $0.51 EPS. Equities research analysts expect that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 12.12%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 117.65%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PMT shares. Piper Sandler decreased their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Wedbush reiterated a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. B. Riley restated a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods decreased their price target on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.93.

PennyMac Mortgage Investment Trust Profile

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.