The stock of PennyMac Mortgage Investment Trust (NYSE:PMT) is a huge mover today! About 542,139 shares traded hands or 6.48% up from the average. PennyMac Mortgage Investment Trust (NYSE:PMT) has risen 8.89% since April 4, 2016 and is uptrending. It has outperformed by 7.80% the S&P500.
The move comes after 7 months positive chart setup for the $1.06 billion company. It was reported on Nov, 4 by Barchart.com. We have $20.40 PT which if reached, will make NYSE:PMT worth $318.00 million more.
PennyMac Mortgage Investment Trust (NYSE:PMT) Ratings Coverage
Out of 9 analysts covering PennyMac Mortgage Investment Trust (NYSE:PMT), 5 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 56% are positive. PennyMac Mortgage Investment Trust has been the topic of 13 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Wedbush initiated the stock with “Neutral” rating in Thursday, October 6 report. The stock of PennyMac Mortgage Investment Trust (NYSE:PMT) earned “Outperform” rating by Wood on Monday, June 13. JMP Securities maintained the stock with “Market Outperform” rating in Wednesday, March 9 report. Compass Point upgraded the stock to “Buy” rating in Monday, July 27 report. The company was maintained on Thursday, August 6 by Compass Point. The rating was initiated by Barclays Capital on Thursday, December 10 with “Overweight”. Citigroup downgraded the stock to “Neutral” rating in Friday, August 7 report. On Friday, February 5 the stock rating was downgraded by Barclays Capital to “Equal-Weight”. As per Thursday, February 4, the company rating was downgraded by Wells Fargo.
According to Zacks Investment Research, “PennyMac Mortgage Investment Trust is a real estate investment trust. The Company operates as a specialty finance company that will invest primarily in residential mortgage loans and mortgage-related assets. The company seeks to acquire primarily troubled home mortgage loans and mortgage-backed securities from FDIC liquidations of failed banks, US Treasury Legacy Loans Program auctions, and direct acquisitions from mortgage and insurance companies and foreign banks. The Company’s objective is to provide risk-adjusted returns to its investors over the long-term, primarily through dividends and secondarily through capital appreciation. The Company focuses on investing in mortgage loans, a substantial portion of which may be distressed and acquired at discounts to their unpaid principal balances. PennyMac is managed by investment adviser PNMAC Capital Management and offers primary and special loan servicing through PennyMac Loan Services.”
Insitutional Activity: The institutional sentiment increased to 1 in Q2 2016. Its up 0.07, from 0.93 in 2016Q1. The ratio improved, as 18 funds sold all PennyMac Mortgage Investment Trust shares owned while 49 reduced positions. 22 funds bought stakes while 45 increased positions. They now own 41.63 million shares or 5.68% less from 44.14 million shares in 2016Q1.
Moreover, Whittier Of Nevada has 0% invested in PennyMac Mortgage Investment Trust (NYSE:PMT) for 830 shares. Citadel Advsr Ltd has 0% invested in the company for 82,091 shares. Great West Life Assurance Co Can accumulated 0% or 7,089 shares. Tortoise Invest Mgmt Ltd Liability accumulated 1,750 shares or 0.01% of the stock. Moreover, Dreman Value L L C has 0% invested in PennyMac Mortgage Investment Trust (NYSE:PMT) for 181 shares. Citigroup Inc holds 0.02% or 1.16M shares in its portfolio. Federated Pa accumulated 3,475 shares or 0% of the stock. Bancorp Of America De last reported 853,570 shares in the company. Sg Americas Secs Limited Liability holds 0% of its portfolio in PennyMac Mortgage Investment Trust (NYSE:PMT) for 40,684 shares. Greenwich Invest Management Inc has invested 9.13% of its portfolio in PennyMac Mortgage Investment Trust (NYSE:PMT). Yorktown Mgmt & last reported 476,500 shares in the company. Moreover, Legal & General Public Ltd Com has 0% invested in PennyMac Mortgage Investment Trust (NYSE:PMT) for 66,491 shares. Envestnet Asset Mngmt holds 59,542 shares or 0% of its portfolio. Wolverine Asset Mngmt Ltd Llc accumulated 0.02% or 73,546 shares. The New York-based Millennium Mgmt Limited has invested 0% in PennyMac Mortgage Investment Trust (NYSE:PMT).
More notable recent PennyMac Mortgage Investment Trust (NYSE:PMT) news were published by: Businesswire.com which released: “PennyMac Mortgage Investment Trust Reports Third Quarter 2016 Results” on November 03, 2016, also Nasdaq.com with their article: “Pennymac Mortgage Investment Trust (PMT) Passes Through 13% Yield Mark” published on October 06, 2016, Businesswire.com published: “PennyMac Mortgage Investment Trust Announces Date for Release of Third Quarter …” on October 25, 2016. More interesting news about PennyMac Mortgage Investment Trust (NYSE:PMT) were released by: Businesswire.com and their article: “PennyMac Mortgage Investment Trust Reports 2016 Second Quarter Results” published on August 03, 2016 as well as Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: Pennymac Mortgage Investment Trust, New York REIT and …” with publication date: October 03, 2016.
PMT Company Profile
PennyMac Mortgage Investment Trust (PMT), incorporated on May 18, 2009, is a specialty finance firm that invests primarily in residential mortgage loans and mortgage-related assets. The Firm conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries. The Firm operates through two divisions: correspondent production and investment activities. The correspondent production segment represents the Company’s activities aimed at serving as an intermediary between mortgage lenders and the capital markets by purchasing, pooling and reselling newly originated prime credit quality mortgage loans either directly or in the form of mortgage-backed securities (MBS), using the services of PNMAC Capital Management (the Manager or PCM) and PennyMac Loan Services, LLC (PLS or the Servicer), both indirect subsidiaries of PennyMac Financial Services, Inc. (PFSI or PennyMac).
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