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

PennyMac Mortgage Investment Trust (NYSE:PMT) issued its quarterly earnings results on Thursday. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating 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 Up 1.5 %

NYSE PMT traded up $0.20 during mid-day trading on Thursday, reaching $12.89. The stock had a trading volume of 639,923 shares, compared to its average volume of 688,915. The stock has a market cap of $1.12 billion, a PE ratio of 9.47 and a beta of 1.50. PennyMac Mortgage Investment Trust has a 1 year low of $11.77 and a 1 year high of $15.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41. The company has a fifty day moving average price of $12.98 and a 200 day moving average price of $13.54.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, December 27th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 12.42%. The ex-dividend date was Friday, December 27th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 117.65%.

Wall Street Analysts Forecast Growth

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