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

Key Points

• PennyMac Mortgage Investment Trust declared a quarterly dividend of $0.40 per share, with shareholders of record as of October 10th scheduled to receive payment on October 24th.
• The trust has a high payout ratio of 101.9%, indicating reliance on its balance sheet to fund dividends; however, future earnings expectations suggest it may stabilize with a projected payout ratio of 99.4% next year.
• Shares of PennyMac are currently trading at $12.14, with analysts giving an average rating of "Hold" and a target price of $14.00.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) announced a quarterly dividend on Wednesday, September 17th, RTT News reports. Shareholders of record on Friday, October 10th will be paid a dividend of 0.40 per share by the real estate investment trust on Friday, October 24th. This represents a c) dividend on an annualized basis and a yield of 13.3%. The ex-dividend date of this dividend is Friday, October 10th.

PennyMac Mortgage Investment Trust has a dividend payout ratio of 101.9% 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 Stock Performance

PMT stock traded down $0.12 during midday trading on Friday, reaching $12.08. 2,080,897 shares of the company's stock traded hands, compared to its average volume of 613,858. The company has a 50-day moving average price of $12.27 and a two-hundred day moving average price of $12.84. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.80 and a current ratio of 0.80. PennyMac Mortgage Investment Trust has a 52 week low of $11.70 and a 52 week high of $14.93. The firm has a market capitalization of $1.05 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 2.96 and a beta of 1.30.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.39). The business had revenue of $70.20 million for the quarter, compared to the consensus estimate of $95.46 million. PennyMac Mortgage Investment Trust had a net margin of 34.65% and a return on equity of 7.68%. As a group, equities analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

About PennyMac Mortgage Investment Trust

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.