PennyMac Mortgage Investment Tr with ticker code (PMT) now have 9 analysts covering the stock with the consensus suggesting a rating of ‘Hold’. The range between the high target price and low target price is between 16 and 14 and has a mean target at 14.78. Given that the stocks previous close was at 13.01 this would indicate that there is a potential upside of 13.6%. There is a 50 day moving average of 13.95 and the 200 day moving average is 14.24. The company has a market cap of $1,167m. Company Website: https://www.pennymacmortgageinvestmenttrust.com
The potential market cap would be $1,326m 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.
