Wall Street brokerages predict that PennyMac Mortgage Investment Trust (NYSE:PMT) will post $0.46 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for PennyMac Mortgage Investment Trust’s earnings. The highest EPS estimate is $0.48 and the lowest is $0.41. PennyMac Mortgage Investment Trust posted earnings of $0.47 per share in the same quarter last year, which would suggest a negative year over year growth rate of 2.1%. The firm is expected to issue its next earnings results on Thursday, August 1st.
On average, analysts expect that PennyMac Mortgage Investment Trust will report full-year earnings of $1.94 per share for the current year, with EPS estimates ranging from $1.73 to $2.15. For the next fiscal year, analysts anticipate that the business will post earnings of $2.00 per share, with EPS estimates ranging from $1.94 to $2.06. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow PennyMac Mortgage Investment Trust.
PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.25. PennyMac Mortgage Investment Trust had a return on equity of 13.71% and a net margin of 46.63%. The business had revenue of $106.62 million during the quarter, compared to analyst estimates of $89.10 million. During the same period in the prior year, the company posted $0.35 EPS.
A number of equities analysts recently issued reports on PMT shares. Nomura started coverage on PennyMac Mortgage Investment Trust in a report on Wednesday, March 27th. They issued a “buy” rating and a $23.00 price objective for the company. Zacks Investment Research raised PennyMac Mortgage Investment Trust from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a report on Saturday, February 9th. ValuEngine raised PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $22.00 price objective on shares of PennyMac Mortgage Investment Trust in a report on Tuesday, February 12th. Finally, Barclays set a $21.00 price objective on PennyMac Mortgage Investment Trust and gave the stock a “hold” rating in a report on Thursday, March 7th. Three 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. PennyMac Mortgage Investment Trust has a consensus rating of “Buy” and an average target price of $22.25.
In other PennyMac Mortgage Investment Trust news, Director Scott W. Carnahan sold 5,721 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $20.75, for a total value of $118,710.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Spector sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $20.61, for a total value of $721,350.00. The disclosure for this sale can be found here. Corporate insiders own 2.46% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PMT. Bank of Montreal Can lifted its position in PennyMac Mortgage Investment Trust by 69.1% in the fourth quarter. Bank of Montreal Can now owns 1,461 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 597 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in PennyMac Mortgage Investment Trust in the fourth quarter worth approximately $59,000. Tyers Asset Management LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 35.5% during the 1st quarter. Tyers Asset Management LLC now owns 3,728 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 976 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter valued at $85,000. Finally, Riverhead Capital Management LLC lifted its position in shares of PennyMac Mortgage Investment Trust by 36.7% during the 1st quarter. Riverhead Capital Management LLC now owns 4,100 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 69.65% of the company’s stock.
PMT stock traded up $0.28 on Friday, reaching $21.42. The company’s stock had a trading volume of 1,008,938 shares, compared to its average volume of 714,439. PennyMac Mortgage Investment Trust has a 52 week low of $17.88 and a 52 week high of $21.91. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 2.18 and a beta of 0.61. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.38 and a quick ratio of 0.38.
The company also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Monday, April 15th were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.88 dividend on an annualized basis and a yield of 8.78%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 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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