PennyMac Mortgage Investment Tr with ticker code (PMT) now have 9 market analysts covering the stock. The analyst consensus now points to a rating of ‘Hold’. The target price High/Low ranges between 16 and 14 suggesting an average Analsyt target price of $14.78. Given that the stocks previous close was at $12.24 and the analysts are correct then there would likely be a percentage uptick in value of 20.8%. It’s also worth noting that there is a 50 day moving average of $13.15 and the 200 day MA is $13.85. The market cap for the company is $1,091m. Company Website: https://www.pennymacmortgageinvestmenttrust.com
The potential market cap would be $1,317m based on the market consensus.
PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. It operates through four segments: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production, and Corporate. 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.
The company has a dividend yield of 13.07% with the ex dividend date set at 13-4-2023 (DMY).
