Fintel reports that on December 6, 2023, UBS initiated coverage of Pennymac Mortgage Investment Trust (NYSE:PMT) with a Neutral recommendation.
Analyst Price Forecast Suggests 1.53% Downside
As of November 27, 2023, the average one-year price target for Pennymac Mortgage Investment Trust is 14.43. The forecasts range from a low of 12.62 to a high of $15.75. The average price target represents a decrease of 1.53% from its latest reported closing price of 14.65.
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The projected annual revenue for Pennymac Mortgage Investment Trust is 438MM, a decrease of 14.66%. The projected annual non-GAAP EPS is 1.58.
What is the Fund Sentiment?
There are 387 funds or institutions reporting positions in Pennymac Mortgage Investment Trust. This is an increase of 10 owner(s) or 2.65% in the last quarter. Average portfolio weight of all funds dedicated to PMT is 0.10%, an increase of 6.81%. Total shares owned by institutions increased in the last three months by 0.63% to 65,414K shares. 
The put/call ratio of PMT is 1.97, indicating a bearish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 5,999K shares representing 6.93% ownership of the company. In it's prior filing, the firm reported owning 5,999K shares, representing a decrease of 0.00%. The firm decreased its portfolio allocation in PMT by 4.54% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 5,859K shares representing 6.76% ownership of the company. In it's prior filing, the firm reported owning 6,139K shares, representing a decrease of 4.77%. The firm decreased its portfolio allocation in PMT by 8.91% over the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 3,732K shares representing 4.31% ownership of the company. In it's prior filing, the firm reported owning 3,740K shares, representing a decrease of 0.21%. The firm decreased its portfolio allocation in PMT by 1.77% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,764K shares representing 3.19% ownership of the company. No change in the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 2,229K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 2,261K shares, representing a decrease of 1.44%. The firm decreased its portfolio allocation in PMT by 4.92% over the last quarter.
Pennymac Mortgage Investment Trust Background Information
(This description is provided by the company.)
PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc.
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