PennyMac Mortgage Investment Trust (NYSE:PMT) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

PennyMac Mortgage Investment Trust (NYSE:PMT) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07, Zacks reports. PennyMac Mortgage Investment Trust had a return on equity of 9.01% and a net margin of 37.92%.

PennyMac Mortgage Investment Trust Stock Up 0.1%

PennyMac Mortgage Investment Trust stock traded up $0.02 during midday trading on Thursday, hitting $13.50. 1,171,584 shares of the company’s stock were exchanged, compared to its average volume of 1,193,909. The company has a debt-to-equity ratio of 4.72, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $1.17 billion, a PE ratio of 14.84, a P/E/G ratio of 1.11 and a beta of 1.27. The firm has a 50-day moving average of $12.92 and a two-hundred day moving average of $12.48. PennyMac Mortgage Investment Trust has a 12 month low of $11.60 and a 12 month high of $14.93.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Friday, December 26th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $1.60 dividend on an annualized basis and a yield of 11.9%. PennyMac Mortgage Investment Trust’s payout ratio is 175.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of PennyMac Mortgage Investment Trust in a report on Monday, December 29th. Citizens Jmp dropped their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 22nd. Zacks Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 21st. Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and set a $13.50 target price on the stock in a report on Thursday, December 18th. Finally, UBS Group lifted their target price on PennyMac Mortgage Investment Trust from $13.00 to $13.50 and gave the company a “neutral” rating in a research report on Friday, October 24th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, PennyMac Mortgage Investment Trust has an average rating of “Hold” and an average price target of $13.75.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, CEO David Spector bought 10,000 shares of the stock in a transaction on Monday, November 17th. The stock was bought at an average cost of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the purchase, the chief executive officer directly owned 357,794 shares in the company, valued at approximately $4,436,645.60. The trade was a 2.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On PennyMac Mortgage Investment Trust

Institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new stake in PennyMac Mortgage Investment Trust in the 3rd quarter worth approximately $50,000. Russell Investments Group Ltd. grew its stake in shares of PennyMac Mortgage Investment Trust by 49.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,861 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 1,599 shares during the period. Sei Investments Co. acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 2nd quarter worth approximately $129,000. Tower Research Capital LLC TRC lifted its stake in shares of PennyMac Mortgage Investment Trust by 113.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,223 shares of the real estate investment trust’s stock valued at $144,000 after purchasing an additional 5,954 shares during the period. Finally, Ausdal Financial Partners Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust in the third quarter worth about $166,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.