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

PennyMac Mortgage Investment Trust (NYSE:PMT) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.20), FiscalAI reports. The company had revenue of $82.29 million for the quarter, compared to analysts’ expectations of $92.92 million. PennyMac Mortgage Investment Trust had a return on equity of 9.53% and a net margin of 41.59%.

PennyMac Mortgage Investment Trust Trading Up 0.3%

Shares of PMT traded up $0.04 during trading on Tuesday, reaching $12.15. 612,322 shares of the company traded hands, compared to its average volume of 1,173,886. PennyMac Mortgage Investment Trust has a twelve month low of $11.15 and a twelve month high of $13.81. The stock has a market cap of $1.06 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.60 and a beta of 1.19. The stock has a 50-day simple moving average of $11.87 and a 200-day simple moving average of $12.36. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 6.55.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Thursday, April 9th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.2%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 163.27%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PMT shares. Weiss Ratings restated a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a research report on Friday, March 27th. Citigroup reiterated an “outperform” rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 22nd. Citizens Jmp dropped their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating for the company in a research note on Thursday, January 22nd. Finally, Piper Sandler cut their price target on shares of PennyMac Mortgage Investment Trust from $13.50 to $13.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, PennyMac Mortgage Investment Trust has an average rating of “Hold” and an average target price of $13.60.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

A number of institutional investors have recently made changes to their positions in PMT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at about $33,000. Advisory Services Network LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter valued at about $50,000. Russell Investments Group Ltd. increased its position in shares of PennyMac Mortgage Investment Trust by 49.0% during the second quarter. Russell Investments Group Ltd. now owns 4,861 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 1,599 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of PennyMac Mortgage Investment Trust during the second quarter valued at about $129,000. Finally, Tower Research Capital LLC TRC increased its position in shares of PennyMac Mortgage Investment Trust by 113.0% during the second quarter. Tower Research Capital LLC TRC now owns 11,223 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 5,954 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.