PennyMac Mortgage Investment Trust (PMT) Reaches New 52-Week High at $21.21

Share on StockTwits

PennyMac Mortgage Investment Trust (NYSE:PMT) shares reached a new 52-week high on Thursday . The stock traded as high as $21.21 and last traded at $21.23, with a volume of 42012 shares. The stock had previously closed at $20.88.

Several research analysts have recently weighed in on the company. ValuEngine upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. JMP Securities increased their price target on PennyMac Mortgage Investment Trust from $20.00 to $21.00 and gave the stock a “market outperform” rating in a research note on Friday, November 2nd. Wells Fargo & Co assumed coverage on PennyMac Mortgage Investment Trust in a research note on Tuesday, September 18th. They set a “market perform” rating and a $20.00 price target for the company. Finally, Credit Suisse Group increased their price target on PennyMac Mortgage Investment Trust from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $20.40.

The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 2.53 and a beta of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.25. The business had revenue of $108.50 million for the quarter, compared to analysts’ expectations of $121.87 million. PennyMac Mortgage Investment Trust had a return on equity of 10.64% and a net margin of 40.40%. The firm’s quarterly revenue was up 43.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 EPS. On average, equities analysts expect that PennyMac Mortgage Investment Trust will post 1.68 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in PennyMac Mortgage Investment Trust by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,762,227 shares of the real estate investment trust’s stock worth $116,628,000 after purchasing an additional 95,374 shares in the last quarter. Legal & General Group Plc lifted its holdings in PennyMac Mortgage Investment Trust by 7.3% during the 3rd quarter. Legal & General Group Plc now owns 182,857 shares of the real estate investment trust’s stock worth $3,693,000 after purchasing an additional 12,442 shares in the last quarter. Teachers Advisors LLC lifted its holdings in PennyMac Mortgage Investment Trust by 2.7% during the 3rd quarter. Teachers Advisors LLC now owns 118,687 shares of the real estate investment trust’s stock worth $2,402,000 after purchasing an additional 3,167 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in PennyMac Mortgage Investment Trust by 27.9% during the 3rd quarter. Mackenzie Financial Corp now owns 22,692 shares of the real estate investment trust’s stock worth $459,000 after purchasing an additional 4,951 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its holdings in PennyMac Mortgage Investment Trust by 57.8% during the 3rd quarter. MetLife Investment Advisors LLC now owns 42,179 shares of the real estate investment trust’s stock worth $854,000 after purchasing an additional 15,452 shares in the last quarter. 68.10% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “PennyMac Mortgage Investment Trust (PMT) Reaches New 52-Week High at $21.21” was first published by Ticker Report and is owned by of Ticker Report. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The original version of this news story can be viewed at https://www.tickerreport.com/banking-finance/4001440/pennymac-mortgage-investment-trust-pmt-reaches-new-52-week-high-at-21-21.html.

About PennyMac Mortgage Investment Trust (NYSE:PMT)

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).

Read More: How is the discount rate different from the Federal Funds rate?

Receive News & Ratings for PennyMac Mortgage Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Mortgage Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Central Valley Community Bancorp  Rating Lowered to Hold at Zacks Investment Research
Central Valley Community Bancorp Rating Lowered to Hold at Zacks Investment Research
EscrowCoin  Price Up 0.7% Over Last 7 Days
EscrowCoin Price Up 0.7% Over Last 7 Days
Vanguard U.S. Value Factor  Announces Quarterly Dividend of $0.43
Vanguard U.S. Value Factor Announces Quarterly Dividend of $0.43
Royalty North Partners  Hits New 1-Year Low at $0.10
Royalty North Partners Hits New 1-Year Low at $0.10
UGE International  Hits New 12-Month Low at $0.09
UGE International Hits New 12-Month Low at $0.09
XRT Token  Trading 14.5% Lower  This Week
XRT Token Trading 14.5% Lower This Week


Leave a Reply

© 2006-2018 Ticker Report