Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) reached a new 52-week high on Thursday . The stock traded as high as $21.21 and last traded at $21.23, with a volume of 42012 shares changing hands. The stock had previously closed at $20.88.

PMT has been the topic of several recent research reports. Wells Fargo & Co initiated coverage on PennyMac Mortgage Investment Trust in a research report on Tuesday, September 18th. They set a “market perform” rating and a $20.00 price objective on the stock. Credit Suisse Group increased their price objective on PennyMac Mortgage Investment Trust from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 25th. JMP Securities increased their price objective on PennyMac Mortgage Investment Trust from $20.00 to $21.00 and gave the company a “market outperform” rating in a research report on Friday, November 2nd. Finally, ValuEngine upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $20.40.

The company has a debt-to-equity ratio of 0.44, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market cap of $1.29 billion, a P/E ratio of 16.38, a PEG ratio of 2.53 and a beta of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate of $0.37 by $0.25. The firm had revenue of $108.50 million for the quarter, compared to analyst estimates of $121.87 million. PennyMac Mortgage Investment Trust had a return on equity of 10.64% and a net margin of 40.40%. The company’s revenue was up 43.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 EPS. As a group, equities analysts expect that PennyMac Mortgage Investment Trust will post 1.68 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in PennyMac Mortgage Investment Trust by 6.2% during the 3rd quarter. BlackRock Inc. now owns 10,239,795 shares of the real estate investment trust’s stock worth $207,253,000 after acquiring an additional 593,750 shares during the last quarter. Vanguard Group Inc. grew its position in PennyMac Mortgage Investment Trust by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,762,227 shares of the real estate investment trust’s stock worth $116,628,000 after acquiring an additional 95,374 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in PennyMac Mortgage Investment Trust during the 3rd quarter worth approximately $21,710,000. Global X Management Co LLC grew its position in PennyMac Mortgage Investment Trust by 0.3% during the 2nd quarter. Global X Management Co LLC now owns 1,021,366 shares of the real estate investment trust’s stock worth $19,396,000 after acquiring an additional 2,794 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in PennyMac Mortgage Investment Trust by 3.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 877,209 shares of the real estate investment trust’s stock worth $17,755,000 after acquiring an additional 30,666 shares during the last quarter. Hedge funds and other institutional investors own 68.10% of the company’s stock.

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PennyMac Mortgage Investment Trust Company Profile (NYSE:PMT)

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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