PennyMac Mortgage Investment Trust

PMT · NYSE

$6.91+$0.16 (+2.37%)TodayMarket closed · Oct 20, 7:52 PM ET

Prev close $6.75

PMT analyst rating

HoldConsensus of 8 analysts over the last 12 months. 38% rate it a buy.

Strong buy0
Buy3
Hold5
Underperform0
Sell0

12-month price target · 8 analysts

Average $11.51 (+66.6% upside)

Low: $10.10
Now: $6.91
High: $15.75

Upgrades and downgrades

The latest rating actions, newest first

PMT analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citizens	Oct 15, 2026	Maintains	Market Outperform	$15.00 → $12.50	53%
Piper Sandler	Oct 9, 2026	Maintains	Neutral	$10.00 → $9.00	37%
UBS	Aug 21, 2026	Maintains	Neutral	$11.25 → $10.00	0%
Deutsche Bank	Aug 17, 2026	Upgrade	Hold → Buy	$12.00	58%
Wells Fargo	Jul 31, 2026	Maintains	Equal-Weight	$12.00 → $10.00	56%
Piper Sandler	Jul 30, 2026	Maintains	Neutral	$11.50 → $10.00	37%
Piper Sandler	May 26, 2026	Maintains	Neutral	$13.00 → $11.50	37%
Keefe, Bruyette & Woods	May 8, 2026	Downgrade	Outperform → Market Perform	$13.50 → $12.00	53%
Wells Fargo	May 7, 2026	Maintains	Equal-Weight	$13.00 → $12.00	56%
Piper Sandler	Apr 2, 2026	Maintains	Neutral	$13.50 → $13.00	37%

The case for and against

Updated Jan 12, 2026

Bull case

PennyMac Mortgage Investment Trust demonstrated notable growth in total conventional volume, which increased approximately 12% to $2.74 billion, compared to $2.45 billion from the previous period, indicating a strong demand in their mortgage lending activities. The company also projected a robust current run-rate return on equity (ROE) of 9.9%, suggesting an increase in quarterly earnings to $0.38, up from $0.35, reflecting positive operational efficiency. Additionally, while total leverage rose to 7.8 times, the company's ability to manage its debt is highlighted by a more modest increase in leverage excluding non-recourse debt, which rose to 5.6 times from 5.1 times.

Bear case

PennyMac Mortgage Investment Trust has experienced a reduction in its book value in the second quarter, contributing to a diminished outlook on its financial performance and a prolonged path to achieving a double-digit return on equity (ROE). Additionally, the decrease in servicing unpaid principal balance (UPB), from $224.6 billion to $221.6 billion, signals a slight decline in the company’s mortgage servicing capabilities. Although mortgage servicing rights (MSRs) remained relatively stable, decreasing marginally from $3.77 billion to $3.74 billion, overall performance metrics suggest underlying challenges that warrant a negative outlook on the stock.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.