PennyMac Mortgage Investment Tr which can be found using ticker (PMT) have now 9 analysts in total covering the stock. The consensus rating is pointing to ‘Hold’. The target price High/Low ranges between 16 and 14 calculating the average target price we see $14.78. Given that the stocks previous close was at $11.12 this would indicate that there is a potential upside of 32.9%. There is a 50 day moving average of $13.60 and the 200 day moving average is $13.94. The market capitalization for the company is $1,028m. Company Website: https://www.pennymacmortgageinvestmenttrust.com
The potential market cap would be $1,367m based on the market consensus.
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.
The company has a dividend yield of 14.39% with the ex dividend date set at 13-4-2023 (DMY).
