PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) declared 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) annualized dividend and a dividend yield of 13.3%. The ex-dividend date is Friday, October 10th.
PennyMac Mortgage Investment Trust has a 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. 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 Down 0.9%
NYSE:PMT traded down $0.12 during trading hours on Friday, reaching $12.08. The company's stock had a trading volume of 2,080,897 shares, compared to its average volume of 613,858. The company has a market capitalization of $1.05 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 2.96 and a beta of 1.30. PennyMac Mortgage Investment Trust has a 12 month low of $11.70 and a 12 month high of $14.93. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50 day moving average price of $12.27 and a two-hundred day moving average price of $12.84.
PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.39). PennyMac Mortgage Investment Trust had a net margin of 34.65% and a return on equity of 7.68%. The firm had revenue of $70.20 million during the quarter, compared to analyst estimates of $95.46 million. Equities analysts predict that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Keefe, Bruyette & Woods lowered PennyMac Mortgage Investment Trust from an "outperform" rating to a "market perform" rating and cut their target price for the company from $14.50 to $13.50 in a research report on Friday, July 25th. Wells Fargo & Company started coverage on shares of PennyMac Mortgage Investment Trust in a report on Monday, August 25th. They issued an "equal weight" rating and a $13.00 target price for the company. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $14.00.
Check Out Our Latest Stock Analysis on PMT
PennyMac Mortgage Investment Trust Company Profile
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Get Free Report)
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.
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