PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 18.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 506,349 shares of the real estate investment trust’s stock after acquiring an additional 77,955 shares during the period. Principal Financial Group Inc. owned approximately 0.58% of PennyMac Mortgage Investment Trust worth $7,221,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. EntryPoint Capital LLC raised its holdings in shares of PennyMac Mortgage Investment Trust by 251.8% during the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 5,015 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in PennyMac Mortgage Investment Trust during the 1st quarter worth about $157,000. Allspring Global Investments Holdings LLC acquired a new stake in PennyMac Mortgage Investment Trust during the second quarter worth approximately $177,000. Caxton Associates LP acquired a new position in PennyMac Mortgage Investment Trust in the second quarter valued at $232,000. Finally, Intech Investment Management LLC purchased a new stake in PennyMac Mortgage Investment Trust in the second quarter valued at approximately $236,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PMT has been the subject of a number of recent research reports. Wedbush reaffirmed a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Keefe, Bruyette & Woods dropped their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Piper Sandler cut their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, B. Riley reissued a “buy” rating and set a $16.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average price target of $14.93.

Insider Transactions at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total value of $518,510.10. Following the transaction, the director now owns 49,114 shares of the company’s stock, valued at approximately $688,087.14. The trade was a 42.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.89% of the stock is owned by insiders.

PennyMac Mortgage Investment Trust Trading Up 0.7 %

NYSE PMT opened at $13.20 on Wednesday. PennyMac Mortgage Investment Trust has a twelve month low of $12.81 and a twelve month high of $15.89. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 9.71 and a beta of 1.51. The firm’s 50 day moving average price is $13.86 and its two-hundred day moving average price is $13.92.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its 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 business had revenue of $80.86 million during the quarter, compared to analyst estimates of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. During the same quarter last year, the firm earned $0.51 earnings per share. Equities analysts anticipate 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 given 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 dividend yield of 12.12%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 117.65%.

PennyMac Mortgage Investment Trust Company 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.