PennyMac Mortgage Investment Trust (NYSE:PMT) downgraded by StockNews.com for sale

0

PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report released Friday.

PMT has been the subject of several other research reports. Zacks Investment Research moved shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a Wednesday, May 11 research report. Credit Suisse Group cut its price target on shares of PennyMac Mortgage Investment Trust to $17.00 and set a “neutral” rating on the stock in a Thursday, May 19 research note. Piper Sandler cut her price target on shares of PennyMac Mortgage Investment Trust from $19.00 to $18.50 and set an “overweight” rating on the stock in a Tuesday, April 5 research note. Jonestrading cut its price target on PennyMac Mortgage Investment Trust shares from $18.50 to $18.00 in a Friday May 6 research note. Finally, TheStreet downgraded shares of PennyMac Mortgage Investment Trust from a “c-” rating to a “d” rating in a research memo on Friday, May 6. Two equity research analysts gave the stock a sell rating, three gave the company a hold rating and five gave the company a buy rating. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and a consensus price target of $18.72.

NYSE:PMT shares were flat at $16.27 during Friday trading. 820,679 shares of the stock traded in hands, compared to its average volume of 1,079,233. PennyMac Mortgage Investment Trust has a 12-month low of $14.61 and a 12-month high of $21.53. The company’s fifty-day moving average is $15.83 and its 200-day moving average is $16.70. 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 $1.58 billion, a price-earnings ratio of -22.29 and a beta of 1.10.

Hedge funds have recently changed their positions in the business. Steward Partners Investment Advisory LLC increased its position in PennyMac Mortgage Investment Trust shares by 1,116.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,650 shares of the real estate investment trust worth $63,000 after buying 3,350 additional shares in the last quarter. Selective Wealth Management Inc. bought a new stake in shares of PennyMac Mortgage Investment Trust in the first quarter worth $62,000. Penserra Capital Management LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust in the third quarter at a value of $84,000. Samalin Investment Counsel LLC raised its position in PennyMac Mortgage Investment Trust shares by 119.9% ​​in the first quarter. Samalin Investment Counsel LLC now owns 5,198 shares of the real estate investment trust worth $88,000 after buying 2,834 additional shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its stake in PennyMac Mortgage Investment Trust by 181.1% during the first quarter. Catalyst Capital Advisors LLC now owns 5,340 shares of the real estate investment trust worth $90,000 after buying 3,440 additional shares in the last quarter. 70.77% of the shares are currently held by institutional investors and hedge funds.

About PennyMac Mortgage Investment Trust (Get a rating)

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.

See also

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



Receive daily news and reviews for PennyMac Mortgage Investment Trust – Enter your email address below to receive a concise daily summary of breaking news and analyst notes for PennyMac Mortgage Investment Trust and related companies with MarketBeat.com’s FREE daily newsletter.

Share.

Comments are closed.