Principal Financial Group Inc. Buys 13,441 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Principal Financial Group Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549,340 shares of the real estate investment trust’s stock after acquiring an additional 13,441 shares during the period. Principal Financial Group Inc. owned about 0.63% of PennyMac Mortgage Investment Trust worth $8,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of PennyMac Mortgage Investment Trust by 204.0% in the 1st quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 1,363 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth approximately $36,000. Sandy Spring Bank acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth approximately $49,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth approximately $118,000. Finally, Proficio Capital Partners LLC acquired a new stake in PennyMac Mortgage Investment Trust in the 4th quarter valued at $139,000. 67.38% of the stock is currently owned by institutional investors.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Catherine A. Lynch acquired 2,878 shares of the stock in a transaction on Thursday, April 24th. The stock was purchased at an average price of $12.15 per share, for a total transaction of $34,967.70. Following the purchase, the director directly owned 49,254 shares in the company, valued at $598,436.10. This trade represents a 6.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.92% of the company’s stock.

Wall Street Analyst Weigh In

PMT has been the topic of several recent research reports. UBS Group lowered their target price on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Jones Trading reiterated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. Keefe, Bruyette & Woods cut their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Finally, Wells Fargo & Company lowered their price objective on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, PennyMac Mortgage Investment Trust presently has an average rating of “Hold” and a consensus price target of $14.50.

PennyMac Mortgage Investment Trust Trading Down 0.7%

NYSE:PMT opened at $12.53 on Wednesday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.30 and a beta of 1.24. PennyMac Mortgage Investment Trust has a 1 year low of $11.77 and a 1 year high of $14.98. The stock has a fifty day moving average price of $12.67 and a two-hundred day moving average price of $13.17.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.39). PennyMac Mortgage Investment Trust had a return on equity of 8.87% and a net margin of 40.42%. The company had revenue of $44.47 million for the quarter, compared to analysts’ expectations of $94.36 million. During the same quarter in the prior year, the business posted $0.39 EPS. As a group, sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be issued a $0.40 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.77%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 172.04%.

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.