Principal Financial Group Inc. Acquires 77,955 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

Principal Financial Group Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 18.2% in the third 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 0.58% of PennyMac Mortgage Investment Trust worth $7,221,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in PennyMac Mortgage Investment Trust during the third quarter worth approximately $28,000. Simplify Asset Management Inc. bought a new position in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth approximately $143,000. Aigen Investment Management LP acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 3rd quarter worth approximately $152,000. Allspring Global Investments Holdings LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 2nd quarter valued at $177,000. Finally, Caprock Group LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 9.3% during the 3rd quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust's stock valued at $195,000 after acquiring an additional 1,156 shares during the period. 67.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wedbush restated a "neutral" rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $15.17.

PennyMac Mortgage Investment Trust Stock Up 1.2 %

Shares of PMT traded up $0.15 during trading hours on Wednesday, reaching $12.59. The stock had a trading volume of 1,025,353 shares, compared to its average volume of 737,151. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 9.26 and a beta of 1.50. The firm has a 50-day simple moving average of $13.32 and a 200 day simple moving average of $13.73. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. PennyMac Mortgage Investment Trust has a 12 month low of $12.33 and a 12 month high of $15.22.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last issued its quarterly earnings data 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). PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. The business had revenue of $80.86 million for the quarter, compared to analyst estimates of $93.75 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. Equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 12.71%. The ex-dividend date is Friday, December 27th. PennyMac Mortgage Investment Trust's dividend payout ratio is currently 117.65%.

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.