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

PennyMac Mortgage Investment Trust (NYSE:PMT) is scheduled to be announcing its earnings results after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of $0.37 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.17). PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. The firm had revenue of $71.20 million during the quarter, compared to analysts’ expectations of $90.26 million. During the same period last year, the business posted $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 Down 0.2 %

Shares of PMT opened at $14.06 on Monday. The business has a 50-day moving average of $14.02 and a 200 day moving average of $13.98. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.52 and a fifty-two week high of $15.89. The firm has a market cap 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 quick ratio of 0.33 and a current ratio of 0.33.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed 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. This represents a $1.60 annualized dividend and a 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%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PMT. Piper Sandler reduced their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Keefe, Bruyette & Woods reduced their target price on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. 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 report on Friday, July 19th. Wedbush reaffirmed a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Thursday, July 25th. Finally, B. Riley reaffirmed a “buy” rating and set a $16.00 target price on shares of PennyMac Mortgage Investment Trust in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and an average price target of $14.93.

Insider Buying and Selling

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 stock was sold at an average price of $14.01, for a total value of $518,510.10. Following the completion of the sale, 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 filing with the SEC, which is available through the SEC website. Insiders bought 2,879 shares of company stock worth $39,028 in the last quarter. 0.89% of the stock is owned by insiders.

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.