PennyMac Mortgage Investment Trust (PMT) Receives Price Target

PennyMac Mortgage Investment Trust (PMT) : 3 investment research analysts covering PennyMac Mortgage Investment Trust (PMT) have an average price target of $16 for the near short term. The highest target price given by the Brokerage Firm to the stock is $18 and the lowest target is $15 for the short term. Analysts expect the variance to be within $1.73 of the average price.

PennyMac Mortgage Investment Trust (PMT) has an average broker rating of 3, which is interpreted as a Hold, as rated by 4 equity analysts. 1 other analysts advise a Buy. Nevertheless, the majority of 2 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 5, which is also a Strong Sell. 1 considers that the stock is a Sell.


Also, Brokerage firm Keefe Bruyette & Woods maintains its rating on PennyMac Mortgage Investment Trust (NYSE:PMT). As per the latest information, the brokerage house lowers the price target to $18 per share from a prior target of $18.5. The shares have been rated Outperform. The rating by the firm was issued on August 8, 2016.

PennyMac Mortgage Investment Trust (NYSE:PMT): The stock opened at $15.27 on Thursday but the bulls could not build on the opening and the stock topped out at $15.27 for the day. The stock traded down to $15.00 during the day, due to lack of any buying support eventually closed down at $15.03 with a loss of -1.38% for the day. The stock had closed at $15.24 on the previous day. The total traded volume was 419,645 shares.

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.

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