PennyMac Mortgage Investment Trust (NYSE:PMT) has received a short term rating of strong sell from experts at Zacks with a rank of 5. The stock has been rated an average of 1.83 by 6 Brokerage Firm. 3 Wall Street Firms have rated the stock as a strong buys. 1 stock experts have also suggested a buy rating. 2 Brokerage Firms have advised hold.
Other Equity analysts have also commented on the company shares. Brokerage firm Keefe Bruyette & Woods maintains its rating on PennyMac Mortgage Investment Trust (NYSE:PMT). As per the latest information, the brokerage house raises the price target to $18.5 per share from a prior target of $17. The shares have been rated Outperform. The rating by the firm was issued on June 13, 2016.
PennyMac Mortgage Investment Trust (NYSE:PMT): The mean short term price target for PennyMac Mortgage Investment Trust (NYSE:PMT) has been established at $17.1 per share. The higher price target estimate is at $21 and the lower price target estimate is expected at $14 according to 5 Analyst. The stock price is expected to vary based on the estimate which is suggested by the standard deviation value of $2.63
PennyMac Mortgage Investment Trust (NYSE:PMT) witnessed a decline in the market cap on Tuesday as its shares dropped 0.68% or 0.11 points. After the session commenced at $16.13, the stock reached the higher end at $16.19 while it hit a low of $15.98. With the volume soaring to 963,813 shares, the last trade was called at $16. The company has a 52-week high of $19.01. The company has a market cap of $1,097 million and there are 68,587,094 shares in outstanding. The 52-week low of the share price is $10.91.
PennyMac Mortgage Investment Trust has dropped 0.37% in the last five trading days, however, the shares have posted positive gains of 5.96% in the last 4 weeks. PennyMac Mortgage Investment Trust is up 22.31% in the last 3-month period. Year-to-Date the stock performance stands at 8.6%.
PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. The Company operates through two segments. The correspondent production segment represents the Companys operations 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 and PennyMac Loan Services, LLC. The investment activities segment represents the Companys investments in mortgage-related assets, which include distressed mortgage loans, real estate acquired in settlement of loans, MBS, mortgage servicing rights and excess servicing spread.