PennyMac Mortgage Investment Trust (NYSE:PMT) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other research analysts have also issued reports on PMT. Zacks Investment Research lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research report on Thursday. BidaskClub upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Finally, Keefe, Bruyette & Woods lowered shares of PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $19.00 to $18.00 in a research report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.50.

PennyMac Mortgage Investment Trust (NYSE PMT) opened at $15.74 on Friday. The firm has a market cap of $1,030.00, a PE ratio of 10.96 and a beta of 0.54. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.46. PennyMac Mortgage Investment Trust has a fifty-two week low of $14.87 and a fifty-two week high of $18.46.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.18). PennyMac Mortgage Investment Trust had a net margin of 36.07% and a return on equity of 7.59%. The company had revenue of $75.80 million during the quarter, compared to the consensus estimate of $81.72 million. During the same period in the prior year, the company earned $1.06 earnings per share. The firm’s revenue was down 26.6% compared to the same quarter last year. equities research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.64 earnings per share for the current year.

In related news, insider David Spector sold 18,750 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $17.61, for a total transaction of $330,187.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 75,000 shares of company stock worth $1,299,563 in the last quarter. 2.08% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System boosted its position in shares of PennyMac Mortgage Investment Trust by 1.4% during the 3rd quarter. California Public Employees Retirement System now owns 356,340 shares of the real estate investment trust’s stock worth $6,197,000 after acquiring an additional 4,940 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 20.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 27,187 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 4,557 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in PennyMac Mortgage Investment Trust in the third quarter valued at approximately $480,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in PennyMac Mortgage Investment Trust in the third quarter valued at approximately $876,000. Finally, Magnetar Financial LLC boosted its position in PennyMac Mortgage Investment Trust by 197.9% in the third quarter. Magnetar Financial LLC now owns 35,905 shares of the real estate investment trust’s stock valued at $624,000 after buying an additional 23,851 shares in the last quarter. Institutional investors and hedge funds own 62.97% of the company’s stock.

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PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.

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