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PennyMac Mortgage Investment Trust (PMT -1.1%) is downgraded to Sell at Ladenburg Thalmann. The...

PennyMac Mortgage Investment Trust (PMT -1.1%) is downgraded to Sell at Ladenburg Thalmann. The move stands in contrast with Compass Point's Buy recommendation from last week in which Kevin Barker argued the housing recovery should allow continued gains from PMT's distressed loan portfolio and the stock trades at a meaningful discount to its mREIT peers.
Comments (3)
  • EGalindo
    , contributor
    Comments (90) | Send Message
     
    Perhaps the downgrade is indicative of things to come? With the FDIC filing multiple lawsuits and creating new regulations, CDO's are not looking so good anymore. Then we have the recent whistleblower incident with B of A (Countrywide), we still have yet to see how that will affect the RMBS that were involved, and how it will translate itself into future lawsuits that might leak over into the secondary market.
    18 Jun 2013, 10:56 AM Reply Like
  • nthurster
    , contributor
    Comments (21) | Send Message
     
    And I thought PMT was already oversold....who is Ladenburg Thalmann anyway? I didn't realize they had so much influence on the market.
    18 Jun 2013, 11:13 AM Reply Like
  • Dividend Investor_101
    , contributor
    Comments (13) | Send Message
     
    Never Heard of Ladenburg Thalmann. Nor did they say why they downgraded it.

     

    Housing prices are up quite a bit this quarter so the earnings should benefit from that.
    21 Jun 2013, 11:44 PM Reply Like
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