Credit Suisse Group lowers PennyMac Mortgage Investment Trust (NYSE:PMT) price target to $16.50

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PennyMac Mortgage Investment Trust (NYSE:PMT – Get a Rating) saw its target price reduced by investment analysts Credit Suisse Group to $16.50 in a report on Friday, Stock Target Advisor reports. Credit Suisse Group’s price target points to a potential upside of 13.87% from the stock’s previous close.

PMT has been the subject of a number of other research reports. StockNews.com downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a Tuesday, June 28 research note. Jonestrading lowered its price target on PennyMac Mortgage Investment Trust from $18.50 to $18.00 in a Friday, May 6 research report. TheStreet upgraded PennyMac Mortgage Investment Trust from a “c-” rating to a “d” rating in a Friday, May 6 research report. JMP Securities lowered its price target on PennyMac Mortgage Investment Trust from $22.00 to $18.00 and set a “market outperformance” rating on the stock in a Tuesday, April 26 research report. Finally, Piper Sandler lowered her price target on PennyMac Mortgage Investment Trust from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 28. One equity research analyst assigned the stock a sell rating, two assigned a hold rating and five assigned the company’s stock a buy rating. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Moderate Buy” and an average target price of $17.97.

PennyMac Mortgage Investment Trust Stock down 1.0%

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PennyMac Mortgage Investment Trust stock traded down $0.14 at midday on Friday, hitting $14.49. 904,322 shares of the company were traded, against an average volume of 1,164,263. The company has a fifty-day moving average of $14.74 and a 200-day moving average of $15.82. The company has a debt ratio of 1.38, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $1.41 billion, a P/E ratio of -19.85 and a beta of 1.14. PennyMac Mortgage Investment Trust has a 12 month minimum of $11.64 and a 12 month maximum of $20.72.

Institutional entries and exits

Hedge funds and other institutional investors have recently been buying and selling stocks. Wedbush Securities Inc. increased its stake in PennyMac Mortgage Investment Trust by 4.9% in Q1. Wedbush Securities Inc. now owns 16,301 shares of the real estate investment trust worth $275,000 after purchasing an additional 760 shares in the last quarter. CIBC Asset Management Inc increased its stake in PennyMac Mortgage Investment Trust by 6.7% in the 4th quarter. CIBC Asset Management Inc. now owns 12,146 shares of the real estate investment trust worth $210,000 after purchasing an additional 761 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in PennyMac Mortgage Investment Trust by 3.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,150 shares of the real estate investment trust worth $488,000 after buying 857 additional shares in the last quarter. PNC Financial Services Group Inc. increased its stake in PennyMac Mortgage Investment Trust by 3.6% in Q1. PNC Financial Services Group Inc. now owns 32,427 shares of the real estate investment trust worth $548,000 after purchasing an additional 1,137 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in PennyMac Mortgage Investment Trust by 6.7% in the 1st quarter. Teacher Retirement System of Texas now owns 20,047 shares of the real estate investment trust worth $339,000 after buying 1,257 additional shares in the last quarter. 70.77% of the shares are held by hedge funds and other institutional investors.

About PennyMac Mortgage Investment Trust

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PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in mortgage-related assets in the United States. The Company’s Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate and subordinated non-agency bonds.

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

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