Principal Financial Group Inc. Has $6.60 Million Stock Position in PennyMac Mortgage Investment Trust (NYSE:PMT)

Principal Financial Group Inc. decreased its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 449,784 shares of the real estate investment trust’s stock after selling 2,427 shares during the period. Principal Financial Group Inc.’s holdings in PennyMac Mortgage Investment Trust were worth $6,603,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PMT. Deutsche Bank AG grew its stake in shares of PennyMac Mortgage Investment Trust by 12.4% in the 3rd quarter. Deutsche Bank AG now owns 44,166 shares of the real estate investment trust’s stock valued at $548,000 after purchasing an additional 4,878 shares during the period. Axxcess Wealth Management LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at approximately $210,000. Penserra Capital Management LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 9.4% in the 3rd quarter. Penserra Capital Management LLC now owns 59,301 shares of the real estate investment trust’s stock valued at $735,000 after purchasing an additional 5,088 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 2.3% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 180,378 shares of the real estate investment trust’s stock valued at $2,237,000 after purchasing an additional 4,041 shares during the period. Finally, Clearview Wealth Advisors LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at approximately $318,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PMT. Piper Sandler reiterated a “neutral” rating and issued a $15.00 price objective (up from $14.50) on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, May 9th. JMP Securities reiterated a “market outperform” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 18th. Finally, Wedbush restated a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Monday, April 29th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and a consensus price target of $14.92.

PennyMac Mortgage Investment Trust Price Performance

NYSE PMT traded up $0.02 during trading hours on Friday, reaching $13.77. 150,083 shares of the company’s stock were exchanged, compared to its average volume of 688,559. The stock has a market cap of $1.20 billion, a PE ratio of 9.15 and a beta of 1.51. PennyMac Mortgage Investment Trust has a one year low of $10.52 and a one year high of $15.89. The firm has a fifty day moving average of $14.02 and a 200-day moving average of $14.24. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.37.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a $0.40 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a yield of 11.62%. PennyMac Mortgage Investment Trust’s payout ratio is 106.67%.

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.