PennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday,Zacks.com reports.
A number of other equities research analysts also recently commented on the company. Wall Street Zen downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded PennyMac Mortgage Investment Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 21st. Wells Fargo & Company decreased their target price on PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $12.00 target price (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a research report on Friday, May 8th. Finally, Piper Sandler decreased their target price on PennyMac Mortgage Investment Trust from $13.00 to $11.50 and set a “neutral” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, PennyMac Mortgage Investment Trust has an average rating of “Hold” and a consensus price target of $12.80.
Get Our Latest Stock Report on PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust Stock Performance
PennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). The business had revenue of $82.29 million during the quarter, compared to the consensus estimate of $92.92 million. PennyMac Mortgage Investment Trust had a return on equity of 10.71% and a net margin of 41.38%. As a group, equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.24 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 1,586.5% in the 4th quarter. SG Americas Securities LLC now owns 526,950 shares of the real estate investment trust’s stock valued at $6,613,000 after acquiring an additional 495,704 shares during the period. Public Sector Pension Investment Board boosted its position in PennyMac Mortgage Investment Trust by 14.4% during the third quarter. Public Sector Pension Investment Board now owns 339,375 shares of the real estate investment trust’s stock valued at $4,161,000 after purchasing an additional 42,720 shares in the last quarter. Dana Investment Advisors Inc. boosted its position in PennyMac Mortgage Investment Trust by 10.2% during the third quarter. Dana Investment Advisors Inc. now owns 525,337 shares of the real estate investment trust’s stock valued at $6,441,000 after purchasing an additional 48,618 shares in the last quarter. Spinnaker Investment Group LLC boosted its position in PennyMac Mortgage Investment Trust by 25.1% during the fourth quarter. Spinnaker Investment Group LLC now owns 51,581 shares of the real estate investment trust’s stock valued at $647,000 after purchasing an additional 10,336 shares in the last quarter. Finally, KERR FINANCIAL PLANNING Corp bought a new position in PennyMac Mortgage Investment Trust in the third quarter worth about $52,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.
PennyMac Mortgage Investment Trust Company Profile
PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.
Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.
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