FY2021 Earnings Forecast for PennyMac Mortgage Investment Trust Issued By Wedbush (NYSE:PMT)

PennyMac Mortgage Investment Trust (NYSE:PMT) – Equities research analysts at Wedbush increased their FY2021 EPS estimates for PennyMac Mortgage Investment Trust in a research note issued to investors on Monday, May 10th. Wedbush analyst H. Coffey now forecasts that the real estate investment trust will post earnings per share of $2.30 for the year, up from their previous forecast of $2.20. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q1 2022 earnings at $0.59 EPS, Q2 2022 earnings at $0.52 EPS and Q4 2022 earnings at $0.58 EPS.

A number of other equities analysts have also commented on the company. Zacks Investment Research lowered PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, May 5th. BTIG Research restated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research report on Friday, April 23rd. TheStreet upgraded PennyMac Mortgage Investment Trust from a “d+” rating to a “c-” rating in a research report on Thursday, March 25th. Finally, Wells Fargo & Company boosted their target price on PennyMac Mortgage Investment Trust from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $19.31.

PennyMac Mortgage Investment Trust stock opened at $19.12 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $1.87 billion, a P/E ratio of 1,912.00 and a beta of 1.18. The business’s fifty day moving average is $19.81 and its two-hundred day moving average is $18.30. PennyMac Mortgage Investment Trust has a 52 week low of $8.82 and a 52 week high of $20.59.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Thursday, May 6th. The real estate investment trust reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 29th. Investors of record on Thursday, April 15th were issued a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, April 14th. This represents a $1.88 dividend on an annualized basis and a yield of 9.83%. PennyMac Mortgage Investment Trust’s dividend payout ratio is presently 77.69%.

In related news, Director Scott W. Carnahan sold 1,494 shares of the company’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $18.90, for a total value of $28,236.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.63% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PMT. Powell Investment Advisors LLC bought a new stake in PennyMac Mortgage Investment Trust in the fourth quarter valued at about $171,000. Perennial Investment Advisors LLC increased its holdings in shares of PennyMac Mortgage Investment Trust by 71.4% in the fourth quarter. Perennial Investment Advisors LLC now owns 18,013 shares of the real estate investment trust’s stock worth $317,000 after acquiring an additional 7,504 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of PennyMac Mortgage Investment Trust by 9.8% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 29,441 shares of the real estate investment trust’s stock worth $517,000 after acquiring an additional 2,636 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of PennyMac Mortgage Investment Trust by 5.6% in the fourth quarter. Whittier Trust Co. now owns 71,383 shares of the real estate investment trust’s stock worth $1,256,000 after acquiring an additional 3,781 shares in the last quarter. Finally, Creative Planning bought a new stake in shares of PennyMac Mortgage Investment Trust in the fourth quarter worth about $212,000. Institutional investors and hedge funds own 72.82% of the company’s stock.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in mortgage-related assets in the United States. The company operates through Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

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

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