PennyMac Mortgage Investment Trust (NYSE:PMT) Issues Earnings Results

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) released its earnings results on Tuesday. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.39), Zacks reports. The firm had revenue of $44.47 million for the quarter, compared to the consensus estimate of $94.36 million. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. During the same quarter in the previous year, the firm earned $0.39 EPS.

PennyMac Mortgage Investment Trust Trading Up 1.3 %

Shares of NYSE PMT traded up $0.16 during midday trading on Friday, reaching $12.23. 1,130,955 shares of the stock were exchanged, compared to its average volume of 818,084. PennyMac Mortgage Investment Trust has a 12 month low of $11.77 and a 12 month high of $15.22. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 9.20 and a beta of 1.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41. The business has a 50-day simple moving average of $13.89 and a two-hundred day simple moving average of $13.48.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 13.08%. The ex-dividend date was Friday, April 11th. PennyMac Mortgage Investment Trust's payout ratio is presently 172.04%.

Insider Activity at PennyMac Mortgage Investment Trust

In other PennyMac Mortgage Investment Trust news, Director Doug Jones sold 14,530 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $14.50, for a total value of $210,685.00. Following the completion of the transaction, the director now directly owns 64,082 shares of the company's stock, valued at approximately $929,189. The trade was a 18.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on PMT shares. Jones Trading reissued a "hold" rating on shares of PennyMac Mortgage Investment Trust in a report on Thursday. JMP Securities reissued a "market outperform" rating and set a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. UBS Group reduced their price objective on shares of 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, Keefe, Bruyette & Woods dropped their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $14.50 and set an "outperform" rating for the company in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of "Hold" and a consensus price target of $14.75.

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.