PennyMac Mortgage Investment Trust (NYSE:PMT) Coverage Initiated by Analysts at Compass Point

Compass Point began coverage on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) in a research note issued to investors on Monday, Benzinga reports. The firm issued a neutral rating and a $22.50 price objective on the real estate investment trust’s stock.

Several other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of PennyMac Mortgage Investment Trust from a strong-buy rating to a hold rating in a research report on Friday, November 8th. Deutsche Bank started coverage on shares of PennyMac Mortgage Investment Trust in a research note on Friday, October 11th. They issued a buy rating and a $24.00 target price on the stock. Finally, Bank of America started coverage on shares of PennyMac Mortgage Investment Trust in a research report on Monday, September 23rd. They issued a buy rating and a $23.00 price target for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $23.06.

Shares of PMT stock opened at $22.78 on Monday. PennyMac Mortgage Investment Trust has a one year low of $17.88 and a one year high of $23.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a fifty day moving average price of $22.71 and a 200 day moving average price of $22.08. The stock has a market cap of $2.10 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.94 and a beta of 0.59.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.20. PennyMac Mortgage Investment Trust had a net margin of 50.13% and a return on equity of 13.38%. The firm had revenue of $130.76 million for the quarter, compared to analyst estimates of $116.95 million. During the same quarter in the previous year, the firm posted $0.62 EPS. Equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 2.38 EPS for the current year.

Large investors have recently made changes to their positions in the business. Flagship Harbor Advisors LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 97.9% during the second quarter. Flagship Harbor Advisors LLC now owns 2,021 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,000 shares during the period. NEXT Financial Group Inc lifted its holdings in PennyMac Mortgage Investment Trust by 334.0% during the 2nd quarter. NEXT Financial Group Inc now owns 2,756 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 2,121 shares during the last quarter. Signaturefd LLC lifted its holdings in PennyMac Mortgage Investment Trust by 229.1% during the 2nd quarter. Signaturefd LLC now owns 2,873 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 2,000 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings in PennyMac Mortgage Investment Trust by 147.6% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 5,250 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 3,130 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its position in PennyMac Mortgage Investment Trust by 2,028.0% in the second quarter. Point72 Hong Kong Ltd now owns 6,001 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 5,719 shares in the last quarter. Hedge funds and other institutional investors own 70.65% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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Analyst Recommendations for PennyMac Mortgage Investment Trust (NYSE:PMT)

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