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

PennyMac Mortgage Investment Trust (NYSE:PMT) is scheduled to issue 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. Persons interested in participating in the company’s earnings conference call can do so using this link.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data 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 business had revenue of $71.20 million during the quarter, compared to analysts’ expectations of $90.26 million. PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. During the same period last year, the company earned $0.16 earnings per share. 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 Stock Down 0.2 %

PMT stock opened at $14.06 on Friday. The firm’s fifty day simple moving average is $14.02 and its 200-day simple moving average is $13.99. The company has a market capitalization of $1.22 billion, a P/E ratio of 9.31 and a beta of 1.51. 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 has a 12 month low of $10.52 and a 12 month high of $15.89.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 11.38%. The ex-dividend date of this dividend is Friday, October 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 105.96%.

Analyst Ratings Changes

Several research firms have recently commented on PMT. Keefe, Bruyette & Woods dropped their price objective 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. Wedbush reissued a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, July 25th. JMP Securities increased their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. B. Riley reissued a “buy” rating and set a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. Finally, Piper Sandler lowered their price target on shares of 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. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.93.

Insiders Place Their Bets

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of the company’s stock in a transaction 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 directly owns 49,114 shares in the company, valued at approximately $688,087.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders purchased 2,879 shares of company stock worth $39,028. Company insiders own 0.89% of the company’s stock.

About PennyMac Mortgage Investment Trust

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.