PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) released its earnings results on Tuesday. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01), Yahoo Finance reports. PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. The business had revenue of $80.86 million for the quarter, compared to the consensus estimate of $93.75 million. During the same period in the prior year, the business posted $0.51 EPS.
PennyMac Mortgage Investment Trust Trading Down 1.1 %
NYSE PMT traded down $0.15 during trading on Wednesday, hitting $13.52. The company had a trading volume of 1,133,750 shares, compared to its average volume of 731,145. The company's fifty day moving average is $14.04 and its 200-day moving average is $13.97. PennyMac Mortgage Investment Trust has a one year low of $10.52 and a one year high of $15.89. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.51. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 8.95 and a beta of 1.51.
PennyMac Mortgage Investment Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.83%. The ex-dividend date is Friday, October 11th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is currently 105.96%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Piper Sandler decreased 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. Wedbush reiterated a "neutral" rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, July 25th. Keefe, Bruyette & Woods cut their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an "outperform" rating on the stock in a report on Thursday, July 25th. JMP Securities lifted their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a "market outperform" rating in a research note on Friday, July 19th. Finally, B. Riley reissued a "buy" rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, PennyMac Mortgage Investment Trust currently has an average rating of "Hold" and a consensus target price of $14.93.
Read Our Latest Report on PennyMac Mortgage Investment Trust
Insider Activity
In related news, Director Doug Jones sold 37,010 shares of the stock in a transaction dated 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 transaction, the director now directly owns 49,114 shares of the company's stock, valued at $688,087.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have purchased 2,879 shares of company stock valued at $39,028. Corporate insiders own 0.89% of the company's stock.
About PennyMac Mortgage Investment Trust
(
Get Free Report)
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.
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