PennyMac Mortgage Investment Trust (NYSE:PMT) Given New $14.00 Price Target at Barclays

PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) had its price target cut by investment analysts at Barclays from $18.00 to $14.00 in a research note issued on Friday, The Fly reports. Barclays’s target price points to a potential upside of 3.47% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. BTIG Research lowered their target price on shares of PennyMac Mortgage Investment Trust to $16.00 in a report on Monday, December 12th. Jonestrading downgraded shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a report on Wednesday, November 30th. B. Riley boosted their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $16.00 in a report on Monday, November 21st. JMP Securities lowered their target price on shares of PennyMac Mortgage Investment Trust from $16.00 to $15.00 and set a “market outperform” rating on the stock in a report on Thursday, October 20th. Finally, Credit Suisse Group lowered their target price on shares of PennyMac Mortgage Investment Trust to $15.00 in a report on Thursday, October 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average target price of $15.64.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT stock opened at $13.53 on Friday. The company’s fifty day simple moving average is $14.22 and its 200-day simple moving average is $14.04. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.35. The firm has a market cap of $1.20 billion, a PE ratio of -9.20 and a beta of 1.33. PennyMac Mortgage Investment Trust has a 12 month low of $10.78 and a 12 month high of $18.67.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Several institutional investors and hedge funds have recently modified their holdings of PMT. Jupiter Asset Management Ltd. increased its holdings in shares of PennyMac Mortgage Investment Trust by 1,841.3% in the third quarter. Jupiter Asset Management Ltd. now owns 573,563 shares of the real estate investment trust’s stock valued at $6,757,000 after purchasing an additional 544,018 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in shares of PennyMac Mortgage Investment Trust in the third quarter valued at about $6,253,000. Price T Rowe Associates Inc. MD boosted its position in shares of PennyMac Mortgage Investment Trust by 11.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,609,260 shares of the real estate investment trust’s stock valued at $63,746,000 after acquiring an additional 460,177 shares during the period. JPMorgan Chase & Co. boosted its position in shares of PennyMac Mortgage Investment Trust by 464.2% in the second quarter. JPMorgan Chase & Co. now owns 515,468 shares of the real estate investment trust’s stock valued at $7,129,000 after acquiring an additional 424,098 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of PennyMac Mortgage Investment Trust by 26.6% in the third quarter. Pacer Advisors Inc. now owns 1,453,426 shares of the real estate investment trust’s stock valued at $17,121,000 after acquiring an additional 305,310 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

About PennyMac Mortgage Investment Trust

(Get Rating)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests 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 non-agency subordinated bonds.

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

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