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

PennyMac Mortgage Investment Trust (NYSE:PMT) declared a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Investors of record on Friday, December 27th will be given a dividend of 0.40 per share by the real estate investment trust on Friday, January 24th. This represents a $1.60 annualized dividend and a dividend yield of 12.25%. The ex-dividend date is Friday, December 27th.

PennyMac Mortgage Investment Trust has increased its dividend by an average of 21.8% per year over the last three years. PennyMac Mortgage Investment Trust has a payout ratio of 103.2% 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 $1.56 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 102.6%.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT opened at $13.06 on Wednesday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. The firm has a market cap of $1.13 billion, a PE ratio of 9.60 and a beta of 1.50. PennyMac Mortgage Investment Trust has a 12 month low of $12.80 and a 12 month high of $15.89. The stock has a fifty day moving average price of $13.46 and a 200-day moving average price of $13.77.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $80.86 million for the quarter, compared to analysts’ expectations of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same quarter in the previous year, the firm posted $0.51 EPS. Equities research analysts predict that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wedbush reissued a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.17.

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.