PennyMac Mortgage Investment Trust (PMT) to Release Earnings on Tuesday

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) will be issuing its quarterly earnings data after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of $0.37 per share for the quarter. Parties interested in listening to the company's conference call can do so using this link.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.17). The company had revenue of $71.20 million during the quarter, compared to analysts' expectations of $90.26 million. PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. During the same period in the prior year, the business earned $0.16 EPS. On average, analysts expect PennyMac Mortgage Investment Trust to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

PennyMac Mortgage Investment Trust Trading Up 1.0 %

PMT stock traded up $0.13 during mid-day trading on Wednesday, reaching $14.14. The company had a trading volume of 616,291 shares, compared to its average volume of 732,999. The company has a market capitalization of $1.23 billion, a PE ratio of 9.43 and a beta of 1.51. The firm has a 50 day moving average of $13.98 and a 200 day moving average of $13.99. PennyMac Mortgage Investment Trust has a 12 month low of $10.52 and a 12 month high of $15.89. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.33 and a quick ratio of 0.33.

PennyMac Mortgage Investment Trust Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.32%. PennyMac Mortgage Investment Trust's payout ratio is 106.67%.

Insider Buying and Selling at PennyMac Mortgage Investment Trust

In related news, Director Doug Jones sold 37,010 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $14.01, for a total transaction of $518,510.10. Following the completion of the transaction, the director now owns 49,114 shares in the company, valued at $688,087.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders bought 2,879 shares of company stock valued at $39,028. 0.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PMT shares. JMP Securities lifted their target price on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a "market outperform" rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods lowered their price objective 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 cut their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a "neutral" rating on the stock in a research report on Wednesday, July 24th. Wedbush restated a "neutral" rating and issued a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, July 25th. Finally, B. Riley reiterated a "buy" rating and set a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, PennyMac Mortgage Investment Trust has a consensus rating of "Hold" and a consensus target price 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.