PMT - Shares of PennyMac Mortgage Investment Trust of Beneficial Interest (PMT) Rise to a New 52-Week High
PennyMac Mortgage Investment Trust of Beneficial Interest (NYSE:PMT) traded at a new 52-week high today of $20.69. This new high was reached on below average trading volume as 256,000 shares traded hands, while the average 30-day volume is approximately 767,000 shares.
In the past 52 weeks, shares of PennyMac Mortgage Investment Trust of Beneficial Interest have traded between a low of $13.82 and a high of $20.69 and is now at $20.69, which is 50% above that low price.
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.
PennyMac Mortgage Investment Trust of Beneficial Interest (NYSE:PMT) is currently priced 96.7% above its average consensus analyst price target of $0.69.
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