PennyMac Mortgage Investment Trust (NYSE:PMT) Posts Quarterly Earnings Results

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) released its quarterly earnings data on Tuesday. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.39), Zacks reports. PennyMac Mortgage Investment Trust had a net margin of 34.65% and a return on equity of 7.68%. The business had revenue of $70.20 million during the quarter, compared to analyst estimates of $95.46 million.

PennyMac Mortgage Investment Trust Stock Down 2.9%

Shares of PennyMac Mortgage Investment Trust stock traded down $0.38 during trading hours on Friday, reaching $12.40. 1,286,001 shares of the company were exchanged, compared to its average volume of 901,701. The firm has a market cap of $1.08 billion, a PE ratio of 17.22, a PEG ratio of 1.66 and a beta of 1.24. The stock's fifty day moving average is $12.63 and its 200 day moving average is $13.17. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.63 and a current ratio of 0.55. PennyMac Mortgage Investment Trust has a 1 year low of $11.77 and a 1 year high of $14.93.

PennyMac Mortgage Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 12.91%. The ex-dividend date is Friday, July 11th. PennyMac Mortgage Investment Trust's dividend payout ratio is currently 222.22%.

Analysts Set New Price Targets

PMT has been the topic of a number of research reports. Wells Fargo & Company decreased their price target on PennyMac Mortgage Investment Trust from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Keefe, Bruyette & Woods restated a "market perform" rating and set a $13.50 price target (down from $14.50) on shares of PennyMac Mortgage Investment Trust in a research note on Friday. UBS Group decreased their price target on PennyMac Mortgage Investment Trust from $13.25 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, Jones Trading restated a "hold" rating on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, April 24th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $14.00.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Several large investors have recently bought and sold shares of the business. Jane Street Group LLC purchased a new position in PennyMac Mortgage Investment Trust in the first quarter valued at $4,166,000. Intech Investment Management LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 1.3% during the first quarter. Intech Investment Management LLC now owns 109,272 shares of the real estate investment trust's stock worth $1,601,000 after purchasing an additional 1,411 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of PennyMac Mortgage Investment Trust by 36.7% during the first quarter. AQR Capital Management LLC now owns 16,155 shares of the real estate investment trust's stock worth $237,000 after purchasing an additional 4,335 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

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.