PennyMac Mortgage Investment Trust (NYSE:PMT) Short Interest Update

PennyMac Mortgage Investment Trust (NYSE:PMT) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 3,520,000 shares, a growth of 32.3% from the August 15th total of 2,660,000 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average daily trading volume, of 849,200 shares, the short-interest ratio is presently 4.1 days.

A number of analysts have recently weighed in on PMT shares. BTIG Research restated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a report on Sunday, June 20th. B. Riley started coverage on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, September 9th. They issued a “buy” rating and a $23.00 price objective for the company. Zacks Investment Research raised shares of PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 14th. Finally, Barclays increased their price objective on shares of PennyMac Mortgage Investment Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, June 7th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and a consensus price target of $20.10.

NYSE:PMT opened at $19.65 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 7.25 and a beta of 1.15. The company has a 50 day moving average price of $19.38 and a 200-day moving average price of $19.75. PennyMac Mortgage Investment Trust has a 1-year low of $14.79 and a 1-year high of $21.53.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Thursday, August 5th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.25). PennyMac Mortgage Investment Trust had a net margin of 38.61% and a return on equity of 14.15%. On average, sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 2.48 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new stake in PennyMac Mortgage Investment Trust in the 2nd quarter valued at $25,000. Samalin Investment Counsel LLC acquired a new stake in PennyMac Mortgage Investment Trust during the 2nd quarter worth $37,000. Catalyst Capital Advisors LLC boosted its stake in PennyMac Mortgage Investment Trust by 48.8% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,830 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 600 shares during the last quarter. SRS Capital Advisors Inc. acquired a new stake in PennyMac Mortgage Investment Trust during the 2nd quarter worth $42,000. Finally, Pinz Capital Management LP acquired a new stake in PennyMac Mortgage Investment Trust during the 2nd quarter worth $101,000. 70.67% of the stock is currently owned by hedge funds and other institutional investors.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a finance company, which invests primarily in residential mortgage loans and mortgage-related assets. It operates through following segments: Correspondent Production, Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Corporate Activities. The Correspondent Production segment deals with purchasing, pooling, and reselling newly originated prime credit quality mortgage loans either directly or in the form of mortgage-backed securities in capital markets.

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