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

PennyMac Mortgage Investment Trust (NYSE:PMT) released its quarterly earnings results on Tuesday. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01), Yahoo Finance reports. The business had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. During the same period in the prior year, the firm earned $0.51 earnings per share.

PennyMac Mortgage Investment Trust Stock Down 1.1 %

Shares of NYSE PMT opened at $13.52 on Thursday. The firm has a 50 day moving average price of $14.04 and a 200 day moving average price of $13.97. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.33 and a current ratio of 0.33. The stock has a market cap of $1.17 billion, a P/E ratio of 8.95 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 52-week low of $10.52 and a 52-week high of $15.89.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.83%. The ex-dividend date of this dividend is Friday, October 11th. PennyMac Mortgage Investment Trust’s payout ratio is 105.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PMT shares. Keefe, Bruyette & Woods dropped their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Piper Sandler reduced their price objective on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. B. Riley reiterated a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Wedbush restated a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, July 25th. Finally, JMP Securities raised their price target 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and an average target price of $14.93.

Insider Transactions at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the sale, the director now owns 49,114 shares in the company, valued at $688,087.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 2,879 shares of company stock valued at $39,028 over the last three months. 0.89% of the stock is currently owned by corporate insiders.

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.