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

Key Points

• PennyMac Mortgage Investment Trust will issue a quarterly dividend of $0.40 per share to investors of record on October 10th, representing an annualized yield of 13.2%.
• The company has a dividend payout ratio of 101.9%, indicating reliance on its balance sheet to cover dividend payments, though analysts predict it will earn $1.61 per share next year.
• PennyMac's stock opened at $12.14, with a market capitalization of $1.06 billion and a P/E ratio of 16.86, reflecting recent fluctuations in its stock performance.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) declared a quarterly dividend on Wednesday, September 17th, RTT News reports. Investors of record on Friday, October 10th will be given 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 dividend yield of 13.3%. The ex-dividend date of this dividend is Friday, October 10th.

PennyMac Mortgage Investment Trust has a payout ratio of 101.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Down 0.9%

Shares of PMT traded down $0.12 during trading hours on Friday, reaching $12.08. 2,080,897 shares of the stock traded hands, compared to its average volume of 613,858. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 3.82. The stock has a fifty day simple moving average of $12.27 and a 200 day simple moving average of $12.85. PennyMac Mortgage Investment Trust has a 52 week low of $11.70 and a 52 week high of $14.93. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 2.98 and a beta of 1.30.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $95.46 million. On average, equities analysts forecast that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Large investors have recently modified their holdings of the business. Boston Partners purchased a new position in PennyMac Mortgage Investment Trust in the 1st quarter worth approximately $14,807,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in PennyMac Mortgage Investment Trust by 71.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,335,101 shares of the real estate investment trust's stock worth $19,559,000 after buying an additional 557,389 shares in the last quarter. Ieq Capital LLC purchased a new position in PennyMac Mortgage Investment Trust in the 1st quarter worth approximately $7,644,000. Jane Street Group LLC purchased a new position in PennyMac Mortgage Investment Trust in the 1st quarter worth approximately $4,166,000. Finally, Nuveen LLC purchased a new position in PennyMac Mortgage Investment Trust in the 1st quarter worth approximately $3,713,000. Hedge funds and other institutional investors own 67.38% of the company's stock.

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.