Shares of PennyMac Mortgage Investment Trust (NYSE:PMT) hit a new 52-week high on Thursday . The company traded as high as $21.21 and last traded at $21.23, with a volume of 42012 shares traded. The stock had previously closed at $20.88.

Several analysts recently commented on the stock. ValuEngine raised shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. JMP Securities increased their target price on shares of PennyMac Mortgage Investment Trust from $20.00 to $21.00 and gave the company a “market outperform” rating in a research note on Friday, November 2nd. Wells Fargo & Co assumed coverage on shares of PennyMac Mortgage Investment Trust in a research note on Tuesday, September 18th. They set a “market perform” rating and a $20.00 target price for the company. Finally, Credit Suisse Group increased their target price on shares of PennyMac Mortgage Investment Trust from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $20.40.

The company has a market cap of $1.27 billion, a P/E ratio of 16.33, a P/E/G ratio of 2.49 and a beta of 0.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.54 and a current ratio of 0.54.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, November 1st. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate of $0.37 by $0.25. PennyMac Mortgage Investment Trust had a net margin of 40.40% and a return on equity of 10.64%. The business had revenue of $108.50 million during the quarter, compared to analyst estimates of $121.87 million. During the same period in the prior year, the business earned $0.47 earnings per share. The business’s quarterly revenue was up 43.1% on a year-over-year basis. Research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.68 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in PennyMac Mortgage Investment Trust by 6.2% during the third quarter. BlackRock Inc. now owns 10,239,795 shares of the real estate investment trust’s stock valued at $207,253,000 after purchasing an additional 593,750 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of PennyMac Mortgage Investment Trust by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,762,227 shares of the real estate investment trust’s stock valued at $116,628,000 after acquiring an additional 95,374 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at approximately $21,710,000. Global X Management Co LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 0.3% in the 2nd quarter. Global X Management Co LLC now owns 1,021,366 shares of the real estate investment trust’s stock valued at $19,396,000 after acquiring an additional 2,794 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of PennyMac Mortgage Investment Trust by 3.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 877,209 shares of the real estate investment trust’s stock valued at $17,755,000 after acquiring an additional 30,666 shares in the last quarter. 68.10% of the stock is owned by institutional investors and hedge funds.

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PennyMac Mortgage Investment Trust Company Profile (NYSE:PMT)

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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