PennyMac Mortgage Investment Trust (NYSE:PMT) Raised to Hold at StockNews.com

PennyMac Mortgage Investment Trust (NYSE:PMT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

PMT has been the topic of a number of other research reports. Wedbush increased their target price on PennyMac Mortgage Investment Trust from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday. B. Riley lowered their price objective on PennyMac Mortgage Investment Trust from $16.00 to $15.00 in a research note on Tuesday, August 8th. JMP Securities raised their price target on PennyMac Mortgage Investment Trust from $12.50 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, July 21st. Finally, Piper Sandler decreased their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.00 in a research report on Friday, July 28th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust has a consensus rating of “Hold” and a consensus price target of $14.67.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT stock opened at $13.40 on Friday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 12.18 and a beta of 1.47. The business’s fifty day moving average is $12.34 and its 200 day moving average is $12.55. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.77. The company has a quick ratio of 0.33, a current ratio of 0.31 and a debt-to-equity ratio of 1.35.

Institutional Trading of PennyMac Mortgage Investment Trust

Institutional investors have recently made changes to their positions in the stock. Almitas Capital LLC purchased a new position in PennyMac Mortgage Investment Trust in the 4th quarter valued at about $28,000. Cerity Partners LLC acquired a new position in shares of PennyMac Mortgage Investment Trust during the first quarter valued at approximately $798,000. Federated Hermes Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 54.9% during the third quarter. Federated Hermes Inc. now owns 3,641 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 1,291 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of PennyMac Mortgage Investment Trust by 53.2% during the first quarter. Tower Research Capital LLC TRC now owns 5,650 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 1,961 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in PennyMac Mortgage Investment Trust by 575.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,769 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 4,915 shares during the last quarter. 66.89% of the stock is owned by hedge funds and other institutional investors.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. It operates through four segments: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production, and Corporate. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.