PMT - PennyMac Mortgage Investment Trust of Beneficial Interest: The Winning Streak Continues (PMT)
Shares of PennyMac Mortgage Investment Trust of Beneficial Interest (NYSE:PMT) traded today at $21.51, eclipsing its 52-week high. This new high was reached on below average trading volume as 215,000 shares traded hands, while the average 30-day volume is approximately 912,000 shares.
PennyMac Mortgage Investment Trust of Beneficial Interest (NYSE:PMT) defies analysts with a current price ($21.48) 96.7% above its average consensus price target of $0.71.
PennyMac Mortgage Investment Trust of Beneficial Interest share prices have moved between a 52-week high of $21.51 and a 52-week low of $14.79 and are now trading 45% above that low price at $21.48 per share.
PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The company's operations include activities such as production and servicing of financial securities based on residential loans and pooling and reselling of high-credit-quality mortgages. The company operates through four segments: correspondent production, credit-sensitive strategies, interest-rate-sensitive strategies, and corporate activities. The correspondent production segment, which generates income via purchasing, pooling, and reselling of loans or mortgage-backed securities accounts for roughly half of the company's income.
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