PennyMac Mortgage Investment Trust (NYSE:PMT) Declares $0.40 Quarterly Dividend

PennyMac Mortgage Investment Trust (NYSE:PMT) announced a quarterly dividend on Friday, March 7th, Wall Street Journal reports. Investors 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 annualized dividend and a yield of 10.84%. The ex-dividend date is Friday, April 11th.

PennyMac Mortgage Investment Trust has decreased its dividend payment by an average of 1.8% annually over the last three years. PennyMac Mortgage Investment Trust has a 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 Trading Up 3.0 %

Shares of PennyMac Mortgage Investment Trust stock opened at $14.76 on Friday. The company’s fifty day simple moving average is $13.30 and its 200-day simple moving average is $13.57. The stock has a market capitalization of $1.28 billion, a PE ratio of 11.09 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 1-year low of $11.77 and a 1-year high of $15.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data 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 net margin of 48.17% and a return on equity of 11.48%. As a group, equities analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current year.

Insider Activity

In other news, Director Doug Jones sold 14,530 shares of the business’s 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 directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

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

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.