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

PennyMac Mortgage Investment Trust (NYSE:PMT) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01), Yahoo Finance reports. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.86%. The business had revenue of $80.86 million during the quarter, compared to analyst estimates of $93.75 million. During the same quarter in the prior year, the company posted $0.51 earnings per share.

PennyMac Mortgage Investment Trust Stock Up 2.0 %

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

PennyMac Mortgage Investment Trust Announces Dividend

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

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction 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 sale, the director now owns 49,114 shares of the company’s stock, valued at approximately $688,087.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wedbush reiterated a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday. B. Riley restated a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. 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, July 24th. Keefe, Bruyette & Woods decreased their price target on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Finally, JMP Securities upped their price target 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust has an average rating of “Hold” and a consensus target price of $14.93.

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.