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

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) issued its quarterly earnings data on Tuesday. The real estate investment trust reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.38 by ($0.39), Zacks reports. The firm had revenue of $44.47 million for the quarter, compared to the consensus estimate of $94.36 million. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. During the same period last year, the company posted $0.39 earnings per share.

PennyMac Mortgage Investment Trust Stock Up 1.3 %

Shares of NYSE PMT traded up $0.16 during trading on Friday, reaching $12.23. The company had a trading volume of 591,771 shares, compared to its average volume of 816,868. The business's 50-day moving average is $13.92 and its 200 day moving average is $13.50. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.06 billion, a PE ratio of 9.19 and a beta of 1.17. PennyMac Mortgage Investment Trust has a 12-month low of $11.77 and a 12-month high of $15.22.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 13.09%. PennyMac Mortgage Investment Trust's payout ratio is 172.04%.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of PennyMac Mortgage Investment Trust stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the sale, the director now owns 64,082 shares of the company's stock, valued at approximately $929,189. This trade represents a 18.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JMP Securities reaffirmed a "market outperform" rating and set a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their price target on PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating for the company in a research note on Thursday. UBS Group reduced their price objective on shares of PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Finally, Jones Trading reaffirmed a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research report on Thursday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $14.75.

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.