Headquartered in Westlake Village, CA Fiscal year ends December NYSE: PMT pmt.pennymac.com
PennyMac Mortgage Investment Trust (NYSE: PMT) is a mortgage real estate investment trust that invests primarily in residential mortgage loans and mortgage-related assets. The company operates through three segments: Credit Sensitive Strategies (encompassing GSE credit risk transfer investments and subordinate bonds from private label securitizations), Interest Rate Sensitive Strategies (mortgage servicing rights, Agency MBS, and interest rate hedges), and Aggregation and Securitization (correspondent loan production and private label securitization activities). PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI), which provides loan production, servicing, and fulfillment capabilities. The company creates investment assets organically through its participation in PFSI's correspondent lending channel and through direct purchases of PFSI production for inclusion in private label securitizations. PMT's portfolio includes approximately $208 billion in UPB of mortgage servicing rights, $18.1 billion in UPB underlying GSE credit risk transfer investments, and $12.3 billion in UPB underlying private label securitizations. The company is actively shifting its capital allocation strategy toward higher-returning non-Agency subordinate bond investments from its growing private label securitization program, while reducing exposure to lower-yielding MSR investments. Updated
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PennyMac Mortgage Investment Trust (NYSE: PMT) is a mortgage real estate investment trust that invests primarily in residential mortgage loans and mortgage-related assets.
The Wall Street consensus 12-month price target for PMT is $10.96.
