PennyMac Mortgage Investment Tr found using ticker (PMT) now have 11 analysts covering the stock. The analyst consensus points to a rating of ‘Buy’. The target price ranges between 22 and 18 with the average target price sitting at 20.16. Now with the previous closing price of 17.46 this now indicates there is a potential upside of 15.5%. The 50 day moving average now sits at 17.88 and the 200 moving average now moves to 19.32. The market cap for the company is $1,667m. You can visit the company’s website by visiting: https://www.pennymacmortgageinvestmenttrust.com
The potential market cap would be $1,924m based on the market concensus.
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in mortgage-related assets in the United States. The company operates through Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds. The company’s 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); and related interest rate hedging activities. Its Correspondent Production segment engages 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.
