PennyMac Mortgage Investment Trust (PMT) Upgraded at ValuEngine

ValuEngine upgraded shares of PennyMac Mortgage Investment Trust (NYSE:PMT) from a hold rating to a buy rating in a report published on Monday, February 4th.

A number of other analysts also recently weighed in on PMT. JMP Securities upped their price target on shares of PennyMac Mortgage Investment Trust from $20.00 to $21.00 and gave the stock a market outperform rating in a report on Friday, November 2nd. Barclays set a $19.00 price objective on shares of PennyMac Mortgage Investment Trust and gave the company a hold rating in a research note on Friday, December 14th. Finally, Zacks Investment Research raised shares of PennyMac Mortgage Investment Trust from a hold rating to a buy rating and set a $21.00 price objective for the company in a research note on Wednesday, December 26th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $21.33.

PMT traded up $0.04 during trading on Monday, hitting $20.42. The company had a trading volume of 819,684 shares, compared to its average volume of 956,632. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.44. PennyMac Mortgage Investment Trust has a one year low of $16.49 and a one year high of $21.41. The stock has a market capitalization of $1.23 billion, a P/E ratio of 10.26, a P/E/G ratio of 2.29 and a beta of 0.61.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.14. PennyMac Mortgage Investment Trust had a net margin of 43.52% and a return on equity of 12.23%. The company had revenue of $83.90 million for the quarter, compared to analyst estimates of $138.40 million. During the same period in the previous year, the business earned $0.32 EPS. PennyMac Mortgage Investment Trust’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.76 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates lifted its position in shares of PennyMac Mortgage Investment Trust by 42.2% during the second quarter. Raymond James & Associates now owns 14,925 shares of the real estate investment trust’s stock valued at $283,000 after purchasing an additional 4,431 shares in the last quarter. Bank of America Corp DE increased its holdings in PennyMac Mortgage Investment Trust by 16.5% during the second quarter. Bank of America Corp DE now owns 222,812 shares of the real estate investment trust’s stock worth $4,231,000 after buying an additional 31,546 shares during the last quarter. United Services Automobile Association increased its holdings in PennyMac Mortgage Investment Trust by 30.1% during the second quarter. United Services Automobile Association now owns 21,830 shares of the real estate investment trust’s stock worth $415,000 after buying an additional 5,054 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 104.1% in the third quarter. Nisa Investment Advisors LLC now owns 24,900 shares of the real estate investment trust’s stock worth $504,000 after purchasing an additional 12,700 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of PennyMac Mortgage Investment Trust by 292.6% in the third quarter. First Trust Advisors LP now owns 528,307 shares of the real estate investment trust’s stock worth $10,693,000 after purchasing an additional 393,727 shares in the last quarter. 72.74% of the stock is currently owned by institutional investors and hedge funds.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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Analyst Recommendations for PennyMac Mortgage Investment Trust (NYSE:PMT)

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