PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) had its target price reduced by investment analysts at Credit Suisse Group to $16.50 in a report released on Friday, Stock Target Advisor reports. Credit Suisse Group’s price target indicates a potential upside of 13.87% from the stock’s previous close.
PMT has been the subject of a number of other research reports. StockNews.com lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. Jonestrading dropped their target price on PennyMac Mortgage Investment Trust from $18.50 to $18.00 in a research report on Friday, May 6th. TheStreet cut PennyMac Mortgage Investment Trust from a “c-” rating to a “d” rating in a research report on Friday, May 6th. JMP Securities dropped their target price on PennyMac Mortgage Investment Trust from $22.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 26th. Finally, Piper Sandler dropped their target price on PennyMac Mortgage Investment Trust from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Moderate Buy” and an average target price of $17.97.
PennyMac Mortgage Investment Trust Stock Down 1.0 %
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PennyMac Mortgage Investment Trust stock traded down $0.14 during mid-day trading on Friday, reaching $14.49. 904,322 shares of the company were exchanged, compared to its average volume of 1,164,263. The business has a fifty day moving average of $14.74 and a 200 day moving average of $15.82. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $1.41 billion, a P/E ratio of -19.85 and a beta of 1.14. PennyMac Mortgage Investment Trust has a 12-month low of $11.64 and a 12-month high of $20.72.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wedbush Securities Inc. lifted its stake in PennyMac Mortgage Investment Trust by 4.9% in the 1st quarter. Wedbush Securities Inc. now owns 16,301 shares of the real estate investment trust’s stock worth $275,000 after purchasing an additional 760 shares in the last quarter. CIBC Asset Management Inc lifted its stake in PennyMac Mortgage Investment Trust by 6.7% in the 4th quarter. CIBC Asset Management Inc now owns 12,146 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 761 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in PennyMac Mortgage Investment Trust by 3.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,150 shares of the real estate investment trust’s stock worth $488,000 after purchasing an additional 857 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in PennyMac Mortgage Investment Trust by 3.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust’s stock worth $548,000 after purchasing an additional 1,137 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in PennyMac Mortgage Investment Trust by 6.7% in the 1st quarter. Teacher Retirement System of Texas now owns 20,047 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 1,257 shares in the last quarter. 70.77% 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. 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.
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