PennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $10.00 and last traded at $10.0150, with a volume of 325606 shares. The stock had previously closed at $10.18.
Analyst Upgrades and Downgrades
Several analysts have recently commented on PMT shares. Wall Street Zen downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note 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. Piper Sandler decreased their price target on PennyMac Mortgage Investment Trust from $13.00 to $11.50 and set a “neutral” rating for the company in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $12.00 price target (down from $13.50) on shares of PennyMac Mortgage Investment Trust in a research report on Friday, May 8th. Finally, Wells Fargo & Company decreased their price target on PennyMac Mortgage Investment Trust from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, PennyMac Mortgage Investment Trust has an average rating of “Hold” and a consensus target price of $12.80.
PennyMac Mortgage Investment Trust Price Performance
PennyMac Mortgage Investment Trust (NYSE:PMT – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). The business had revenue of $82.29 million for the quarter, compared to analysts’ expectations of $92.92 million. PennyMac Mortgage Investment Trust had a net margin of 41.38% and a return on equity of 10.71%. Sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 1.21 EPS for the current year.
Hedge Funds Weigh In On PennyMac Mortgage Investment Trust
Several institutional investors and hedge funds have recently bought and sold shares of the company. Orographic Financial Advisors LLC bought a new position in PennyMac Mortgage Investment Trust during the first quarter valued at $118,000. Bank of America Corp DE grew its holdings in PennyMac Mortgage Investment Trust by 154.1% during the first quarter. Bank of America Corp DE now owns 412,512 shares of the real estate investment trust’s stock valued at $4,810,000 after purchasing an additional 250,160 shares during the period. Amundi grew its holdings in PennyMac Mortgage Investment Trust by 17.0% during the first quarter. Amundi now owns 15,855 shares of the real estate investment trust’s stock valued at $185,000 after purchasing an additional 2,304 shares during the period. Royal Bank of Canada grew its holdings in PennyMac Mortgage Investment Trust by 1,469.4% during the first quarter. Royal Bank of Canada now owns 642,149 shares of the real estate investment trust’s stock valued at $7,488,000 after purchasing an additional 601,233 shares during the period. Finally, Empowered Funds LLC bought a new position in PennyMac Mortgage Investment Trust during the first quarter valued at $239,000. 67.38% of the stock is owned by 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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