PennyMac Mortgage Investment Trust (NYSE:PMT) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

PennyMac Mortgage Investment Trust (NYSE:PMT) announced its earnings results on Tuesday. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01), Yahoo Finance reports. PennyMac Mortgage Investment Trust had a net margin of 47.60% and a return on equity of 13.29%. The firm had revenue of $80.86 million for the quarter, compared to the consensus estimate of $93.75 million. During the same period in the prior year, the business earned $0.51 EPS.

PennyMac Mortgage Investment Trust Price Performance

Shares of NYSE:PMT opened at $13.52 on Thursday. The company’s fifty day moving average is $14.04 and its two-hundred day moving average is $13.97. The company has a market cap of $1.17 billion, a P/E ratio of 8.95 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 12-month low of $10.52 and a 12-month high of $15.89. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.51.

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 paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.83%. The ex-dividend date of this dividend is Friday, October 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is 105.96%.

Insider Buying and Selling

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 37,010 shares of PennyMac Mortgage Investment Trust 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 sale, the director now owns 49,114 shares of the company’s stock, valued at $688,087.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders acquired 2,879 shares of company stock valued at $39,028. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PMT shares. Wedbush restated a “neutral” rating and set a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, July 25th. Piper Sandler cut their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. B. Riley restated a “buy” rating and issued a $16.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. JMP Securities upped their price target 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. Finally, Keefe, Bruyette & Woods reduced their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, PennyMac Mortgage Investment Trust has a consensus rating of “Hold” and a consensus target price of $14.93.

PennyMac Mortgage Investment Trust Company Profile

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.