PennyMac Mortgage Investment Trust (PMT) To Go Ex-Dividend on December 27th

PennyMac Mortgage Investment Trust (NYSE:PMT) declared a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Investors of record on Friday, December 27th will be given a dividend of 0.40 per share by the real estate investment trust on Friday, January 24th. This represents a $1.60 annualized dividend and a yield of 12.25%. The ex-dividend date of this dividend is Friday, December 27th.

PennyMac Mortgage Investment Trust has increased its dividend by an average of 21.8% per year over the last three years. PennyMac Mortgage Investment Trust has a payout ratio of 103.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect PennyMac Mortgage Investment Trust to earn $1.56 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 102.6%.

PennyMac Mortgage Investment Trust Trading Up 1.2 %

PMT stock opened at $13.06 on Wednesday. PennyMac Mortgage Investment Trust has a twelve month low of $12.80 and a twelve month high of $15.89. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 9.60 and a beta of 1.50. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.56. The firm’s fifty day simple moving average is $13.46 and its two-hundred day simple moving average is $13.77.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. The firm had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. During the same period in the previous year, the business earned $0.51 EPS. As a group, analysts anticipate that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wedbush restated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.17.

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.