PennyMac Mortgage Investment Tr with ticker code (PMT) have now 11 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The range between the high target price and low target price is between 22 and 17 with a mean TP of 18.73. With the stocks previous close at 16.89 this is indicating there is a potential upside of 10.9%. The 50 day MA is 16.45 while the 200 day moving average is 18.56. The company has a market capitalisation of $1,650m. Visit the company website at: https://www.pennymacmortgageinvestmenttrust.com
The potential market cap would be $1,830m based on the market concensus.
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. Its Interest Rate Sensitive Strategies segment engages in investing in mortgage servicing rights, excess servicing spreads, and agency and senior non-agency mortgage-backed securities (MBS), as well as related interest rate hedging activities. The company’s Correspondent Production segment is involved in purchasing, pooling, and reselling newly originated prime credit residential loans directly or in the form of MBS. PNMAC Capital Management, LLC acts as the manager of PennyMac Mortgage Investment Trust. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its shareholders. PennyMac Mortgage Investment Trust was founded in 2009 and is headquartered in Westlake Village, California.
