Zacks Investment Research upgraded PennyMac Mortgage Investment Trust (NYSE:PMT) to Hold in a report released today.
- Updated: October 15, 2016
Zacks Investment Research has upgraded PennyMac Mortgage Investment Trust (NYSE:PMT) to Hold in a report released on Wednesday October 12, 2016.
Previously on 10/06/2016, Wedbush reported about PennyMac Mortgage Investment Trust (NYSE:PMT) raised the target price from $0.00 to $16.75. At the time, this indicated a possible upside of 0.15%.
Yesterday PennyMac Mortgage Investment Trust (NYSE:PMT) traded -0.34% lower at $14.39. The company’s 50-day moving average is $15.12 and its 200-day moving average is $15.07. The last stock close price is down -1.31% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 279,615 shares of PMT traded hands, down from an average trading volume of 476,314
Recent Performance Chart
PennyMac Mortgage Investment Trust has 52 week low of $10.91 and a 52 week high of $16.93 with a PE ratio of 17.23 and has a market capitalization of $0.
Brief Synopsis On PennyMac Mortgage Investment Trust (NYSE:PMT)
PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. It operates through two segments: correspondent production and investment activities. The correspondent production segment represents its operations aimed at serving as an intermediary between mortgage lenders and the capital markets by purchasing, pooling and reselling newly originated prime credit quality mortgage loans either directly or in the form of mortgage-backed securities (MBS), using the services of PNMAC Capital Management and PennyMac Loan Services, LLC. The investment activities segment represents its investments in mortgage-related assets, which include distressed mortgage loans, real estate acquired in settlement of loans, MBS, mortgage servicing rights and excess servicing spread.
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