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

PennyMac Mortgage Investment Trust (NYSE:PMT) announced its earnings results on Thursday. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04, Zacks reports. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PennyMac Mortgage Investment Trust stock traded up $0.20 on Thursday, hitting $12.89. The stock had a trading volume of 635,052 shares, compared to its average volume of 688,615. The company’s 50 day moving average price is $12.98 and its 200 day moving average price is $13.54. PennyMac Mortgage Investment Trust has a 52-week low of $11.77 and a 52-week high of $15.22. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 9.47 and a beta of 1.50. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, December 27th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.42%. PennyMac Mortgage Investment Trust’s payout ratio is 117.65%.

Analyst Upgrades and Downgrades

PMT has been the subject of a number of research reports. Wedbush restated a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. JMP Securities reissued a “market outperform” rating and issued a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, PennyMac Mortgage Investment Trust has an average rating of “Moderate Buy” and an average target price of $15.20.

About PennyMac Mortgage Investment Trust

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.