PennyMac Mortgage Investment Trust (NYSE:PMT) Issues Earnings Results

PennyMac Mortgage Investment Trust (NYSE:PMT) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01), Yahoo Finance reports. The business had revenue of $80.86 million during the quarter, compared to analyst estimates of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. During the same period last year, the company earned $0.51 EPS.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PennyMac Mortgage Investment Trust stock opened at $13.67 on Wednesday. The business has a 50-day simple moving average of $14.04 and a 200-day simple moving average of $13.98. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.33 and a current ratio of 0.33. PennyMac Mortgage Investment Trust has a one year low of $10.52 and a one year high of $15.89. The company has a market cap of $1.19 billion, a PE ratio of 9.05 and a beta of 1.51.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 11.70%. PennyMac Mortgage Investment Trust’s payout ratio is 105.96%.

Wall Street Analysts Forecast Growth

PMT has been the topic of a number of recent analyst reports. JMP Securities upped their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. B. Riley reaffirmed a “buy” rating and set a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Piper Sandler cut their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods lowered their price target on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.93.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total transaction of $518,510.10. Following the completion of the transaction, the director now owns 49,114 shares in the company, valued at $688,087.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have bought a total of 2,879 shares of company stock valued at $39,028 over the last 90 days. 0.89% of the stock is owned by corporate insiders.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.