The stock of PennyMac Mortgage Investment Trust (NYSE:PMT) is a huge mover today! About 79,328 shares traded hands. PennyMac Mortgage Investment Trust (NYSE:PMT) has risen 19.34% since April 18, 2016 and is uptrending. It has outperformed by 14.91% the S&P500.
The move comes after 6 months positive chart setup for the $1.04B company. It was reported on Nov, 18 by Barchart.com. We have $20.26 PT which if reached, will make NYSE:PMT worth $280.80 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. As per Thursday, August 6, the company rating was maintained by Compass Point. On Friday, February 5 the stock rating was downgraded by Barclays Capital to “Equal-Weight”. The rating was downgraded by Wells Fargo to “Market Perform” on Thursday, February 4. As per Thursday, December 10, the company rating was initiated by Barclays Capital. The firm has “Buy” rating given on Monday, July 27 by Compass Point. The stock of PennyMac Mortgage Investment Trust (NYSE:PMT) has “Market Outperform” rating given on Wednesday, March 9 by JMP Securities. As per Friday, August 7, the company rating was downgraded by Citigroup. The stock has “Outperform” rating given by Wood on Monday, June 13. The rating was initiated by Wedbush on Thursday, October 6 with “Neutral”.
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More recent PennyMac Mortgage Investment Trust (NYSE:PMT) news were published by: Nasdaq.com which released: “Pennymac Mortgage Investment Trust (PMT) Passes Through 13% Yield Mark” on October 06, 2016. Also Businesswire.com published the news titled: “PennyMac Mortgage Investment Trust Reports Fourth Quarter 2015 Results” on February 03, 2016. Businesswire.com‘s news article titled: “PennyMac Mortgage Investment Trust Announces Date for Release of Third Quarter …” with publication date: October 25, 2016 was also an interesting one.
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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