PennyMac Mortgage Investment Trust (PMT) to Issue Quarterly Dividend of $0.40 on April 25th

PennyMac Mortgage Investment Trust (NYSE:PMT) declared a quarterly dividend on Friday, March 7th, Wall Street Journal reports. Stockholders of record on Friday, April 11th will be paid a dividend of 0.40 per share by the real estate investment trust on Friday, April 25th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.84%. The ex-dividend date is Friday, April 11th.

PennyMac Mortgage Investment Trust has decreased its dividend by an average of 1.8% annually over the last three years. PennyMac Mortgage Investment Trust has a dividend payout ratio of 100.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect PennyMac Mortgage Investment Trust to earn $1.61 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 99.4%.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT stock opened at $14.76 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.28 billion, a P/E ratio of 11.09 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 12 month low of $11.77 and a 12 month high of $15.22. The stock has a 50 day moving average of $13.30 and a two-hundred day moving average of $13.57.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. As a group, equities analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reissued a “market outperform” rating and set a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust presently has an average rating of “Moderate Buy” and a consensus price target of $15.20.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 14,530 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the sale, the director now owns 64,082 shares of the company’s stock, valued at approximately $929,189. The trade was a 18.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.89% of the company’s stock.

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.