Is PennyMac Mortgage Investment Trust (PMT) Stock Outpacing Its Finance Peers This Year?
Investors focused on the Finance space have likely heard of PennyMac Mortgage Investment Trust (PMT), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
PennyMac Mortgage Investment Trust is one of 855 individual stocks in the Finance sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. PMT is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for PMT's full-year earnings has moved 9.40% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, PMT has moved about 18.26% on a year-to-date basis. Meanwhile, stocks in the Finance group have gained about 11.49% on average. As we can see, PennyMac Mortgage Investment Trust is performing better than its sector in the calendar year.
Looking more specifically, PMT belongs to the Real Estate - Operations industry, a group that includes 32 individual stocks and currently sits at #150 in the Zacks Industry Rank. On average, this group has gained an average of 27.61% so far this year, meaning that PMT is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Finance sector will want to keep a close eye on PMT as it attempts to continue its solid performance.
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