PennyMac Mortgage Investment Trust (NYSE:PMT) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

PennyMac Mortgage Investment Trust (NYSE:PMT) posted its quarterly earnings results on Thursday. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04, Zacks reports. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%.

PennyMac Mortgage Investment Trust Price Performance

Shares of PMT traded up $0.20 during mid-day trading on Thursday, reaching $12.89. The company had a trading volume of 635,052 shares, compared to its average volume of 688,615. The company’s 50 day simple moving average is $12.98 and its 200 day simple moving average is $13.54. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 9.47 and a beta of 1.50. 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 1.56, a quick ratio of 0.41 and a current ratio of 0.41.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, December 27th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.42%. The ex-dividend date was Friday, December 27th. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 117.65%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.