PennyMac Mortgage Investment Trust (NYSE:PMT) Receives New Price Target of $16.00 at Credit Suisse Group

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PennyMac Mortgage Investment Trust (NYSE:PMT – Get a Rating) had its target price reduced by stock analysts at Credit Suisse Group to $16.00 in a research report on Monday, Stock Target Advisor reports. Credit Suisse Group’s price target would suggest a potential upside of 7.74% from the company’s previous close.

Several other research companies have also recently weighed in on PMT. TheStreet downgraded PennyMac Mortgage Investment Trust from a “c-” rating to a “d” rating in a research report on Friday, May 6. 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 report. 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 Tuesday, June 28 report. B. Riley cut his price target on PennyMac Mortgage Investment Trust from $21.00 to $18.00 and set a “buy” rating on the stock in a Friday July 1 report. Finally, StockNews.com downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a Tuesday, June 28 report. One analyst rated the security with a sell rating, two assigned a hold rating and five gave the security a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.91.

PennyMac Mortgage Investment Trust Stock Performance

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Shares of PMT were down $0.38 on Monday, hitting $14.85. The stock recorded a trading volume of 730,420 shares, compared to an average volume of 1,141,495 shares. The stock has a market capitalization of $1.34 billion, a P/E ratio of -7.69 and a beta of 1.17. PennyMac Mortgage Investment Trust has a 1-year minimum of $11.64 and a 1-year maximum of $20.72. The company has a debt ratio of 1.42, a quick ratio of 0.45 and a current ratio of 0.45. The company has a 50-day simple moving average of $14.44 and a 200-day simple moving average of $15.43.

Institutional entries and exits

Several institutional investors and hedge funds have recently increased or reduced their stake in PMT. CWM LLC increased its position in PennyMac Mortgage Investment Trust shares by 78.6% during the second quarter. CWM LLC now owns 1,918 shares of the real estate investment trust worth $27,000 after purchasing an additional 844 shares during the period. Selective Wealth Management Inc. bought a new stock position in PennyMac Mortgage Investment Trust during the first quarter, valued at approximately $62,000. Steward Partners Investment Advisory LLC increased its position in PennyMac Mortgage Investment Trust shares by 1,116.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,650 shares of the real estate investment trust valued at $63,000 after purchasing an additional 3,350 shares during the period. Capital Analysts LLC bought a new stock position in PennyMac Mortgage Investment Trust during the second quarter, valued at approximately $81,000. Finally, Samalin Investment Counsel LLC increased its position in PennyMac Mortgage Investment Trust shares by 119.9% ​​during the first quarter. Samalin Investment Counsel LLC now owns 5,198 shares of the real estate investment trust valued at $88,000 after purchasing an additional 2,834 shares during the period. Hedge funds and other institutional investors hold 70.77% of the company’s shares.

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.

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

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