PennyMac Mortgage Investment Trust (NYSE:PMT) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

PennyMac Mortgage Investment Trust (NYSE:PMT) posted its quarterly earnings results on Thursday. The real estate investment trust reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04, Zacks reports. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT opened at $13.63 on Friday. PennyMac Mortgage Investment Trust has a 52-week low of $11.77 and a 52-week high of $15.22. The stock’s 50-day simple moving average is $12.97 and its 200 day simple moving average is $13.53. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 10.02 and a beta of 1.50.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, December 27th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.74%. The ex-dividend date was Friday, December 27th. PennyMac Mortgage Investment Trust’s payout ratio is currently 117.65%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JMP Securities restated a “market outperform” rating and issued a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Wedbush reissued a “neutral” rating and issued a $15.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.20.

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.