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

PennyMac Mortgage Investment Trust (NYSE:PMT) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.17), Zacks reports. PennyMac Mortgage Investment Trust had a return on equity of 13.25% and a net margin of 45.19%. The company had revenue of $71.20 million for the quarter, compared to the consensus estimate of $90.26 million. During the same quarter last year, the business earned $0.16 EPS.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE PMT traded down $1.15 during mid-day trading on Wednesday, hitting $13.32. 2,823,288 shares of the stock traded hands, compared to its average volume of 742,336. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.34 and a quick ratio of 0.34. PennyMac Mortgage Investment Trust has a twelve month low of $10.52 and a twelve month high of $15.89. The company has a market cap of $1.16 billion, a PE ratio of 9.02 and a beta of 1.51. The firm has a 50 day simple moving average of $13.99 and a two-hundred day simple moving average of $14.14.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 12.01%. The ex-dividend date of this dividend is Friday, July 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 106.67%.

Wall Street Analysts Forecast Growth

PMT has been the topic of a number of recent research reports. JMP Securities raised their price objective on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Wedbush reiterated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Monday, April 29th. B. Riley reiterated a “buy” rating and issued a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday. Keefe, Bruyette & Woods upgraded PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $15.00 to $15.50 in a research note on Wednesday, July 10th. Finally, Piper Sandler decreased their price target on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.00.

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.