The stock of PennyMac Mortgage Investment Trust (NYSE:PMT) is a huge mover today! The stock decreased 3.72% or $0.56 on October 5, hitting $14.51. PennyMac Mortgage Investment Trust (NYSE:PMT) has risen 13.82% since March 2, 2016 and is uptrending. It has outperformed by 5.56% the S&P500.
The move comes after 9 months negative chart setup for the $971.50 million company. It was reported on Oct, 5 by Barchart.com. We have $13.20 PT which if reached, will make NYSE:PMT worth $87.44 million less.
Analysts await PennyMac Mortgage Investment Trust (NYSE:PMT) to report earnings on November, 2. They expect $0.36 earnings per share, down 26.53% or $0.13 from last year’s $0.49 per share. PMT’s profit will be $24.10M for 10.08 P/E if the $0.36 EPS becomes a reality. After $-0.08 actual earnings per share reported by PennyMac Mortgage Investment Trust for the previous quarter, Wall Street now forecasts -550.00% EPS growth.
PennyMac Mortgage Investment Trust (NYSE:PMT) Ratings Coverage
Out of 8 analysts covering PennyMac Mortgage Investment Trust (NYSE:PMT), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. PennyMac Mortgage Investment Trust has been the topic of 12 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The stock of PennyMac Mortgage Investment Trust (NYSE:PMT) earned “Overweight” rating by Barclays Capital on Thursday, December 10. The firm earned “Equal-Weight” rating on Friday, February 5 by Barclays Capital. The stock of PennyMac Mortgage Investment Trust (NYSE:PMT) has “Neutral” rating given on Friday, August 7 by Citigroup. On Thursday, February 4 the stock rating was downgraded by Wells Fargo to “Market Perform”. Compass Point upgraded PennyMac Mortgage Investment Trust (NYSE:PMT) on Monday, July 27 to “Buy” rating. The rating was maintained by JMP Securities on Wednesday, March 9 with “Market Outperform”. Compass Point maintained PennyMac Mortgage Investment Trust (NYSE:PMT) rating on Thursday, August 6. Compass Point has “Buy” rating and $19.50 price target. The rating was maintained by Wood with “Outperform” on Monday, June 13.
According to Zacks Investment Research, “PennyMac Mortgage Investment Trust is a real estate investment trust. The Company operates as a specialty finance company that will invest primarily in residential mortgage loans and mortgage-related assets. The company seeks to acquire primarily troubled home mortgage loans and mortgage-backed securities from FDIC liquidations of failed banks, US Treasury Legacy Loans Program auctions, and direct acquisitions from mortgage and insurance companies and foreign banks. The Company’s objective is to provide risk-adjusted returns to its investors over the long-term, primarily through dividends and secondarily through capital appreciation. The Company focuses on investing in mortgage loans, a substantial portion of which may be distressed and acquired at discounts to their unpaid principal balances. PennyMac is managed by investment adviser PNMAC Capital Management and offers primary and special loan servicing through PennyMac Loan Services.”
Insitutional Activity: The institutional sentiment increased to 1 in Q2 2016. Its up 0.07, from 0.93 in 2016Q1. The ratio improved, as 18 funds sold all PennyMac Mortgage Investment Trust shares owned while 49 reduced positions. 22 funds bought stakes while 45 increased positions. They now own 41.63 million shares or 5.68% less from 44.14 million shares in 2016Q1.
The New York-based Tortoise Mgmt Limited Liability Co has invested 0.01% in PennyMac Mortgage Investment Trust (NYSE:PMT). The New Jersey-based Financial Architects has invested 0.01% in PennyMac Mortgage Investment Trust (NYSE:PMT). Whittier Tru has 43,854 shares for 0.03% of their US portfolio. Voya Inv Ltd Limited Liability Company last reported 0% of its portfolio in the stock. Advisory Svcs Network Limited Liability Com, a Georgia-based fund reported 746 shares. Highfields Capital Management Ltd Partnership accumulated 500,000 shares or 0.07% of the stock. The New Mexico-based Thornburg Invest has invested 0.27% in PennyMac Mortgage Investment Trust (NYSE:PMT). Nwq Investment Lc, a California-based fund reported 586,853 shares. Citigroup has 0.02% invested in the company for 1.16M shares. Price T Rowe Associates Md accumulated 29,200 shares or 0% of the stock. Los Angeles Management & Equity Inc last reported 0.01% of its portfolio in the stock. Adams Diversified Equity Fund has invested 0.03% of its portfolio in PennyMac Mortgage Investment Trust (NYSE:PMT). Suntrust Banks has 0% invested in the company for 12,167 shares. Parametric Associates Ltd Co has 0% invested in the company for 155,183 shares. Bnp Paribas Arbitrage Sa holds 0% of its portfolio in PennyMac Mortgage Investment Trust (NYSE:PMT) for 2,825 shares.
More notable recent PennyMac Mortgage Investment Trust (NYSE:PMT) news were published by: Nasdaq.com which released: “Ex-Dividend Reminder: Pennymac Mortgage Investment Trust, New York REIT and …” on October 03, 2016, also Finance.Yahoo.com with their article: “PennyMac Mortgage Investment Trust Declares Third Quarter 2016 Dividend” published on September 26, 2016, Nasdaq.com published: “PennyMac Mortgage Investment Trust (PMT) Ex-Dividend Date Scheduled for …” on October 04, 2016. More interesting news about PennyMac Mortgage Investment Trust (NYSE:PMT) were released by: Finance.Yahoo.com and their article: “PennyMac Mortgage Investment Trust to Present at the Barclays Global Financial …” published on September 09, 2016 as well as Forbes.com‘s news article titled: “Ex-Dividend Reminder: Pennymac Mortgage Investment Trust, Aetna and Clarcor” with publication date: July 08, 2016.
PMT Company Profile
PennyMac Mortgage Investment Trust (PMT), incorporated on May 18, 2009, is a specialty finance firm that invests primarily in residential mortgage loans and mortgage-related assets. The Firm conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries. The Firm operates through two divisions: correspondent production and investment activities. The correspondent production segment represents the Company’s activities 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 (the Manager or PCM) and PennyMac Loan Services, LLC (PLS or the Servicer), both indirect subsidiaries of PennyMac Financial Services, Inc. (PFSI or PennyMac).
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