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

PennyMac Mortgage Investment Trust (NYSE:PMT) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.17), Zacks reports. PennyMac Mortgage Investment Trust had a return on equity of 13.26% and a net margin of 47.60%. The business had revenue of $71.20 million for the quarter, compared to analyst estimates of $90.26 million. During the same quarter last year, the company earned $0.16 EPS.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PennyMac Mortgage Investment Trust stock traded up $0.41 during midday trading on Thursday, hitting $13.73. The company had a trading volume of 435,132 shares, compared to its average volume of 740,058. The stock has a market cap of $1.19 billion, a PE ratio of 8.99 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 1-year low of $10.52 and a 1-year high of $15.89. The business’s 50 day simple moving average is $13.95 and its two-hundred day simple moving average is $14.13. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.65%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 106.67%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a report on Thursday. JMP Securities increased their price objective on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Wedbush restated a “neutral” rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday. Piper Sandler decreased their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research report on Wednesday. Finally, B. Riley reissued a “buy” rating and issued a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, PennyMac Mortgage Investment Trust has a consensus rating of “Hold” and a consensus price target 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.