GraniteShares Advisors LLC Buys 12,610 Shares of PennyMac Mortgage Investment Trust (NYSE:PMT)

GraniteShares Advisors LLC lifted its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 208,116 shares of the real estate investment trust’s stock after acquiring an additional 12,610 shares during the quarter. PennyMac Mortgage Investment Trust comprises about 1.9% of GraniteShares Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. GraniteShares Advisors LLC owned 0.24% of PennyMac Mortgage Investment Trust worth $3,049,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth approximately $25,000. Principal Securities Inc. boosted its holdings in PennyMac Mortgage Investment Trust by 2,042.9% during the fourth quarter. Principal Securities Inc. now owns 2,400 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 2,288 shares in the last quarter. GAMMA Investing LLC boosted its holdings in PennyMac Mortgage Investment Trust by 204.0% during the first quarter. GAMMA Investing LLC now owns 2,031 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 1,363 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth approximately $36,000. Finally, Allworth Financial LP bought a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group reduced their target price on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Jones Trading restated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, April 24th. Wells Fargo & Company reduced their target price on shares of PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods reduced their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an “outperform” rating for the company in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.50.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In related news, Director Catherine A. Lynch bought 2,878 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was bought at an average price of $12.15 per share, with a total value of $34,967.70. Following the purchase, the director now directly owns 49,254 shares of the company’s stock, valued at approximately $598,436.10. This represents a 6.21% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.92% of the company’s stock.

PennyMac Mortgage Investment Trust Trading Up 0.7%

PennyMac Mortgage Investment Trust stock opened at $12.87 on Friday. The company has a 50 day moving average price of $12.67 and a 200 day moving average price of $13.26. PennyMac Mortgage Investment Trust has a 52 week low of $11.77 and a 52 week high of $14.98. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 9.68 and a beta of 1.27.

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 11.48% and a net margin of 48.17%. The firm had revenue of $44.47 million during the quarter, compared to analyst estimates of $94.36 million. During the same period in the prior year, the business posted $0.39 EPS. Research analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

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.