Analysts Set Expectations for PennyMac Mortgage Investment Trust’s Q1 2019 Earnings (PMT)

PennyMac Mortgage Investment Trust (NYSE:PMT) – Stock analysts at Wedbush issued their Q1 2019 EPS estimates for PennyMac Mortgage Investment Trust in a report released on Tuesday, April 9th, according to Zacks Investment Research. Wedbush analyst H. Coffey forecasts that the real estate investment trust will post earnings per share of $0.41 for the quarter. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q2 2019 earnings at $0.48 EPS, Q3 2019 earnings at $0.53 EPS, Q4 2019 earnings at $0.50 EPS and FY2019 earnings at $1.93 EPS.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.25. PennyMac Mortgage Investment Trust had a net margin of 43.52% and a return on equity of 12.19%. The company had revenue of $106.62 million during the quarter, compared to the consensus estimate of $89.10 million. During the same quarter in the previous year, the company posted $0.35 earnings per share.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Saturday, January 19th. Nomura began coverage on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, March 27th. They set a “buy” rating and a $23.00 price objective on the stock. ValuEngine cut shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Keefe, Bruyette & Woods restated a “hold” rating and set a $22.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Tuesday, February 12th. Finally, Barclays set a $21.00 price objective on shares of PennyMac Mortgage Investment Trust and gave the company a “hold” rating in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $21.86.

Shares of PMT traded up $0.60 during midday trading on Friday, hitting $21.48. 1,145,087 shares of the stock traded hands, compared to its average volume of 440,033. PennyMac Mortgage Investment Trust has a 1-year low of $17.60 and a 1-year high of $21.70. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 2.38 and a beta of 0.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.40.

A number of institutional investors have recently modified their holdings of PMT. Prudential Financial Inc. raised its position in PennyMac Mortgage Investment Trust by 17.2% in the third quarter. Prudential Financial Inc. now owns 193,050 shares of the real estate investment trust’s stock worth $3,907,000 after acquiring an additional 28,320 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in PennyMac Mortgage Investment Trust by 3.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 877,209 shares of the real estate investment trust’s stock worth $17,755,000 after buying an additional 30,666 shares during the period. BlackRock Inc. raised its holdings in PennyMac Mortgage Investment Trust by 6.2% during the 3rd quarter. BlackRock Inc. now owns 10,239,795 shares of the real estate investment trust’s stock worth $207,253,000 after buying an additional 593,750 shares during the period. GSA Capital Partners LLP acquired a new stake in PennyMac Mortgage Investment Trust during the 3rd quarter worth about $608,000. Finally, Tower Research Capital LLC TRC raised its holdings in PennyMac Mortgage Investment Trust by 1,138.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,677 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 6,138 shares during the period. Hedge funds and other institutional investors own 65.75% of the company’s stock.

In other PennyMac Mortgage Investment Trust news, CEO David Spector sold 35,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $20.61, for a total value of $721,350.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Scott W. Carnahan sold 5,721 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $20.75, for a total transaction of $118,710.75. The disclosure for this sale can be found here. 2.46% of the stock is owned by insiders.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Monday, April 15th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 8.75%. The ex-dividend date of this dividend was Friday, April 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 94.47%.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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Earnings History and Estimates for PennyMac Mortgage Investment Trust (NYSE:PMT)

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