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

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

PennyMac Mortgage Investment Trust Stock Performance

PMT traded up $0.11 on Thursday, hitting $13.43. 116,036 shares of the company traded hands, compared to its average volume of 737,692. PennyMac Mortgage Investment Trust has a 12-month low of $10.52 and a 12-month high of $15.89. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.37. The company has a 50 day moving average of $13.95 and a 200-day moving average of $14.13. The stock has a market capitalization of $1.17 billion, a PE ratio of 8.99 and a beta of 1.51.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a yield of 11.91%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 106.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PMT shares. Piper Sandler cut 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 note on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday. JMP Securities upped their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods cut their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, B. Riley reissued a “buy” rating and issued a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and an average 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.