PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) announced a quarterly dividend on Friday, March 7th, Wall Street Journal reports. Stockholders of record on Friday, April 11th will be given a dividend of 0.40 per share by the real estate investment trust on Friday, April 25th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.19%. The ex-dividend date is Friday, April 11th.
PennyMac Mortgage Investment Trust has decreased its dividend by an average of 1.8% per year over the last three years. PennyMac Mortgage Investment Trust has a payout ratio of 100.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect PennyMac Mortgage Investment Trust to earn $1.61 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 99.4%.
PennyMac Mortgage Investment Trust Price Performance
Shares of PennyMac Mortgage Investment Trust stock traded down $0.34 during trading hours on Tuesday, reaching $14.30. The stock had a trading volume of 343,198 shares, compared to its average volume of 736,294. The firm has a market capitalization of $1.24 billion, a PE ratio of 10.76 and a beta of 1.51. The stock's 50 day moving average is $13.34 and its 200 day moving average is $13.57. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. PennyMac Mortgage Investment Trust has a twelve month low of $11.77 and a twelve month high of $15.22.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. Equities analysts expect that PennyMac Mortgage Investment Trust will post 1.54 earnings per share for the current fiscal year.
Insider Transactions at PennyMac Mortgage Investment Trust
In related 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 transaction, the director now directly owns 64,082 shares in the company, valued at approximately $929,189. This trade represents a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.89% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, JMP Securities reissued a "market outperform" rating and set a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Two 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.20.
Read Our Latest Stock Analysis on PMT
PennyMac Mortgage Investment Trust Company Profile
(
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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