89,605 PennyMac Mortgage Investment Trust $PMT Shares Bought by GraniteShares Advisors LLC

GraniteShares Advisors LLC increased its position in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 40.4% during the third quarter, HoldingsChannel reports. The fund owned 311,609 shares of the real estate investment trust’s stock after buying an additional 89,605 shares during the quarter. PennyMac Mortgage Investment Trust comprises about 1.6% of GraniteShares Advisors LLC’s portfolio, making the stock its 29th largest holding. GraniteShares Advisors LLC’s holdings in PennyMac Mortgage Investment Trust were worth $2,455,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PMT. Bessemer Group Inc. raised its position in PennyMac Mortgage Investment Trust by 142.1% in the first quarter. Bessemer Group Inc. now owns 2,189 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 1,285 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of PennyMac Mortgage Investment Trust during the second quarter valued at about $33,000. Nykredit A S bought a new stake in shares of PennyMac Mortgage Investment Trust during the second quarter worth about $37,000. Public Employees Retirement System of Ohio bought a new stake in shares of PennyMac Mortgage Investment Trust during the second quarter worth about $38,000. Finally, Fortitude Family Office LLC bought a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter worth about $55,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PMT shares. Deutsche Bank Aktiengesellschaft raised PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Saturday, August 15th. Wells Fargo & Company cut their target price on shares of PennyMac Mortgage Investment Trust from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. Weiss Ratings lowered shares of PennyMac Mortgage Investment Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Citizens Jmp decreased their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $12.50 and set a “market outperform” rating for the company in a research report on Thursday, October 15th. Finally, Zacks Research upgraded shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Friday, October 16th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.92.

PennyMac Mortgage Investment Trust Trading Up 7.4%

Shares of PMT stock opened at $8.03 on Tuesday. The stock has a market cap of $699.78 million, a price-to-earnings ratio of 17.45, a PEG ratio of 0.41 and a beta of 1.20. The stock has a 50-day moving average of $8.24 and a 200-day moving average of $10.42. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 9.18. PennyMac Mortgage Investment Trust has a 1-year low of $6.70 and a 1-year high of $13.81.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $31.00 million during the quarter, compared to the consensus estimate of $95.01 million. PennyMac Mortgage Investment Trust had a return on equity of 12.50% and a net margin of 47.79%. On average, equities research analysts forecast that PennyMac Mortgage Investment Trust will post 1.03 earnings per share for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Thursday, October 8th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 19.9%. The ex-dividend date of this dividend was Thursday, October 8th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 347.83%.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust (NYSE: PMT) is a mortgage real estate investment trust that invests primarily in residential mortgage loans and mortgage-related assets. The company seeks to generate income through investments tied to the U.S. residential mortgage market, including credit-sensitive and interest-rate-sensitive assets.

PMT’s business activities include acquiring and managing mortgage loans, mortgage-backed securities and related investments. Through its correspondent production strategy, the trust invests in newly originated residential mortgage loans purchased from correspondent lenders.