PennyMac Mortgage Investment Trust (NYSE:PMT) Posts Earnings Results, Misses Estimates By $0.01 EPS

PennyMac Mortgage Investment Trust (NYSE:PMT) released its quarterly earnings results on Tuesday. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01), Yahoo Finance reports. The company 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 53.81% and a return on equity of 11.86%. During the same period in the prior year, the business posted $0.51 EPS.

PennyMac Mortgage Investment Trust Trading Up 2.0 %

Shares of PennyMac Mortgage Investment Trust stock opened at $13.80 on Friday. The stock has a market cap of $1.20 billion, a P/E ratio of 10.14 and a beta of 1.51. The stock’s 50 day simple moving average is $14.04 and its 200-day simple moving average is $13.97. PennyMac Mortgage Investment Trust has a 1-year low of $10.52 and a 1-year high of $15.89. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.33 and a quick ratio of 0.33.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 11.60%. The ex-dividend date is Friday, October 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 117.65%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $16.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods cut their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Wedbush reiterated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday. Piper Sandler cut their price objective on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, JMP Securities boosted 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, PennyMac Mortgage Investment Trust has an average rating of “Hold” and a consensus target price of $14.93.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 37,010 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total transaction of $518,510.10. Following the transaction, the director now directly owns 49,114 shares in the company, valued at $688,087.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.89% of the company’s stock.

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.