PennyMac Mortgage Investment Trust (NYSE:PMT) Issues Earnings Results

PennyMac Mortgage Investment Trust (NYSE:PMT) released its earnings results on Thursday. The real estate investment trust reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02, Bloomberg Earnings reports. PennyMac Mortgage Investment Trust had a net margin of 46.63% and a return on equity of 13.71%. During the same quarter in the previous year, the business posted $0.70 EPS.

PMT traded down $0.23 during trading on Thursday, reaching $21.80. 702,289 shares of the company traded hands, compared to its average volume of 741,745. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.42. PennyMac Mortgage Investment Trust has a 12-month low of $17.88 and a 12-month high of $22.62. The business’s fifty day simple moving average is $21.95. The stock has a market capitalization of $1.51 billion, a P/E ratio of 10.95, a P/E/G ratio of 2.11 and a beta of 0.60.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Monday, July 15th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 8.62%. The ex-dividend date was Friday, July 12th. PennyMac Mortgage Investment Trust’s payout ratio is 94.47%.

PMT has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research note on Wednesday. Wedbush restated a “neutral” rating on shares of PennyMac Mortgage Investment Trust in a research note on Friday, July 26th. Finally, Piper Jaffray Companies initiated coverage on shares of PennyMac Mortgage Investment Trust in a research note on Friday, May 24th. They set an “overweight” rating and a $23.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $22.25.

In other PennyMac Mortgage Investment Trust news, insider Jeffrey Grogin sold 1,862 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $18.69, for a total transaction of $34,800.78. Following the completion of the sale, the insider now directly owns 36,642 shares of the company’s stock, valued at approximately $684,838.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.45% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund grew its holdings in PennyMac Mortgage Investment Trust by 1.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 26,906 shares of the real estate investment trust’s stock valued at $587,000 after buying an additional 500 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 5.8% in the second quarter. Crossmark Global Holdings Inc. now owns 11,370 shares of the real estate investment trust’s stock valued at $248,000 after purchasing an additional 620 shares in the last quarter. 6 Meridian grew its holdings in shares of PennyMac Mortgage Investment Trust by 1.9% in the second quarter. 6 Meridian now owns 35,460 shares of the real estate investment trust’s stock valued at $774,000 after purchasing an additional 662 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of PennyMac Mortgage Investment Trust by 2.8% in the second quarter. Wedbush Securities Inc. now owns 35,267 shares of the real estate investment trust’s stock valued at $770,000 after purchasing an additional 950 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of PennyMac Mortgage Investment Trust by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 43,587 shares of the real estate investment trust’s stock valued at $812,000 after purchasing an additional 958 shares in the last quarter. 70.69% of the stock is owned by institutional investors and hedge funds.

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 for PennyMac Mortgage Investment Trust (NYSE:PMT)

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