PennyMac Mortgage Investment Trust (NYSE:PMT) to Issue Quarterly Dividend of $0.40

PennyMac Mortgage Investment Trust (NYSE:PMT) declared a quarterly dividend on Friday, March 7th, Wall Street Journal reports. Stockholders of record on Friday, April 11th will be given a dividend of 0.40 per share by the real estate investment trust on Friday, April 25th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.84%. The ex-dividend date of this dividend is Friday, April 11th.

PennyMac Mortgage Investment Trust has decreased its dividend by an average of 1.8% annually over the last three years. PennyMac Mortgage Investment Trust has a dividend payout ratio of 100.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect PennyMac Mortgage Investment Trust to earn $1.61 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 99.4%.

PennyMac Mortgage Investment Trust Trading Up 3.0 %

Shares of PMT stock traded up $0.43 during mid-day trading on Friday, hitting $14.76. 693,149 shares of the company’s stock were exchanged, compared to its average volume of 735,412. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 11.09 and a beta of 1.51. The stock has a 50-day simple moving average of $13.25 and a two-hundred day simple moving average of $13.56. PennyMac Mortgage Investment Trust has a fifty-two week low of $11.77 and a fifty-two week high of $15.22. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. Equities analysts expect that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, PennyMac Mortgage Investment Trust presently has a consensus 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.