The price objective that B. Riley has set for PennyMac Mortgage Investment Trust (NYSE: PMT) has increased from $15.00 to $16.00, as stated in a research note published on Monday. The price objective that B. Riley has set for the stock indicates that it has the potential to increase by 6.38% from its most recent closing price.
There have been several other research firms that have made claims quite similar to PMT. The analysts at Credit Suisse Group lowered their price objective on PennyMac Mortgage Investment Trust to $15.00 in a report distributed on Thursday, October 13th. On Wednesday, October 12th, coverage on StockNews.com was expanded to include PennyMac Mortgage Investment Trust. They suggested that the corporation “sell” its assets. Piper Jaffray lowered their price objective on PennyMac Mortgage Investment Trust from $18.00 to $15.50 and gave the company an “overweight” rating in a report published on Friday, September 30th. JMP Securities lowered their price target on PennyMac Mortgage Investment Trust from $16.00 to $15.00 and gave the company a “market outperform” rating in a report released on Thursday, October 20th. Five analysts have suggested that investors purchase the stock, while one has suggested that they keep it in their portfolios. One analyst has suggested that investors sell the stock. The average rating for the company as of right now is “Moderate Buy,” and the consensus price objective is set at $16.57, as reported by Bloomberg.com.
PennyMac Mortgage Investment Trust stock started the trading week at $15.04 per share on Monday. The company’s moving average over the past fifty days is $13.32, and its moving average over the past two hundred days is $14.33. The debt-to-equity ratio comes in at 1.35, while the quick and current ratios come in at 0.45. The company’s beta value is 1.28, and its market capitalization is $1.34 billion. The company’s price-to-earnings ratio is -10.23. PennyMac Mortgage Investment Trust experienced a low point over the last year of $10.78 and a high point over the past year of $18.72.
On September 8th, the company’s CEO, David Spector, purchased 20,000 shares of the company’s stock. The shares were acquired for a total cost of $274,200.00, which works out to an average price of $13.71 per share. As a direct result of the transaction, the Chief Executive Officer now directly owns 232,574 shares of the firm, which have a combined value of $3,188,589.54. The transaction was made public by a legal filing with the Securities and Exchange Commission, which may be located here for your perusal. A total of 0.78% of the company’s shares are held privately.
Several hedge funds have changed how they invest in the company. Capital Square LLC added 6.4% more shares in PennyMac Mortgage Investment Trust during the second quarter than in the first quarter. After making further purchases of 710 shares over the month, Capital Square LLC now possesses 11,886 shares of the REIT’s stock, which have a value of $164,000. Rockefeller Capital Management L.P. added 30.6% more PennyMac Mortgage Investment Trust shares to its holdings during the third quarter. Rockefeller Capital Management L.P. currently holds 3,346 shares of the real estate investment trust’s stock, worth $38,000 after the company made an extra purchase of 783 shares during the time in question. During the second quarter, CWM LLC’s investment in PennyMac Mortgage Investment Trust climbed by 78.6% over the previous quarter. CWM LLC now holds 1,918 shares of the real estate investment trust’s stock, valued at $27,000 after the company purchases an additional 844 shares during the period. Catalyst Capital Advisors LLC boosted the percentage of PennyMac Mortgage Investment Trust, in which it was invested by 19.1% during the third quarter. After making an additional purchase of 850 shares over the period in question, Catalyst Capital Advisors LLC now holds a total of 5,290 shares of the real estate investment trust, thanks to the expenditure of $62,000.
Last but not least, during the first three months of the year, PNC Financial Services Group Inc. boosted the percentage of PennyMac Mortgage Investment Trust shares it owned by 3.6%. After purchasing an additional 1,137 shares during the period, PNC Financial Services Group Inc. now has a total of 32,427 shares of the REIT, which are valued at $548,000. Institutional investors and hedge funds own the stock to the extent of 69.07%.
PennyMac Mortgage Investment Trust is a specialized finance firm operating out of the United States that invests largely in mortgage-related assets. The company’s headquarters are located in the United States. The division of the corporation that invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds is known as Credit Sensitive Strategies.