Recent exceptional positive changes in investment behavior have benefitted PennyMac Mortgage Investment Tru (NYSE: PMT): its shorter term price trend turned up, and the stock’s recent price rise disrupted its longer term downtrend.
PennyMac Mortgage Investment Tru (NYSE: PMT) has benefited from meaningful positive changes in fundamentals: significant quarterly earnings acceleration occurred, and the consensus estimate for December, 2023 increased significantly.
In light of these very positive signals we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, PMT is expected to continue to be a Value Builder.
PennyMac Mortgage Investment Tru has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. PennyMac Mortgage Investment Tru has a slightly positive Power Rating of 62 and a slightly positive Appreciation Score of 70, resulting in the Positive Value Trend Rating.
Recent Price Action
PennyMac Mortgage Investment Tru (NYSE: PMT) stock declined modestly by -0.5% on 11/6/23. The stock closed at $13.65. The stock has been strong relative to the market over the last nine months and has risen 11.2% during the last week.
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