PennyMac Mortgage Investment Trust (NYSE:PMT) Expected to Post Earnings of $0.41 Per Share

Equities research analysts expect PennyMac Mortgage Investment Trust (NYSE:PMTGet Rating) to announce earnings per share of $0.41 for the current quarter, according to Zacks. Two analysts have made estimates for PennyMac Mortgage Investment Trust’s earnings, with the highest EPS estimate coming in at $0.48 and the lowest estimate coming in at $0.34. PennyMac Mortgage Investment Trust reported earnings per share of $0.67 during the same quarter last year, which would suggest a negative year over year growth rate of 38.8%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that PennyMac Mortgage Investment Trust will report full-year earnings of $2.08 per share for the current year. For the next year, analysts expect that the firm will post earnings of $1.95 per share, with EPS estimates ranging from $1.83 to $2.16. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMTGet Rating) last posted its quarterly earnings data on Thursday, February 3rd. The real estate investment trust reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.77). PennyMac Mortgage Investment Trust had a net margin of 13.53% and a return on equity of 2.89%. During the same quarter last year, the business earned $0.78 earnings per share.

A number of research analysts have recently issued reports on the stock. Jonestrading assumed coverage on shares of PennyMac Mortgage Investment Trust in a research note on Friday, January 7th. They set a “buy” rating and a $20.50 price target on the stock. Piper Sandler dropped their price target on shares of PennyMac Mortgage Investment Trust from $19.00 to $18.50 and set an “overweight” rating on the stock in a research note on Tuesday, April 5th. BTIG Research upgraded shares of PennyMac Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $18.50 price target on the stock in a research note on Friday, January 7th. Barclays dropped their price target on shares of PennyMac Mortgage Investment Trust from $19.00 to $18.00 in a research note on Monday, January 10th. Finally, Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Thursday, April 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.91.

In other PennyMac Mortgage Investment Trust news, Director Marianne Sullivan purchased 15,650 shares of PennyMac Mortgage Investment Trust stock in a transaction on Thursday, February 24th. The shares were bought at an average price of $15.02 per share, with a total value of $235,063.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott W. Carnahan sold 1,785 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $15.71, for a total transaction of $28,042.35. The disclosure for this sale can be found here. 0.84% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Moors & Cabot Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter worth $36,000. Selective Wealth Management Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust during the first quarter worth $62,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 1,116.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,650 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 3,350 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of PennyMac Mortgage Investment Trust during the third quarter worth $84,000. Finally, Capital Square LLC acquired a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at $189,000. Institutional investors and hedge funds own 70.84% of the company’s stock.

Shares of PennyMac Mortgage Investment Trust stock traded up $0.29 on Thursday, reaching $15.35. 21,877 shares of the stock were exchanged, compared to its average volume of 1,006,719. PennyMac Mortgage Investment Trust has a 1-year low of $14.61 and a 1-year high of $21.53. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.11. The business has a fifty day moving average price of $16.10 and a two-hundred day moving average price of $17.64. The firm has a market capitalization of $1.49 billion, a PE ratio of 59.35 and a beta of 1.13.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 28th. Shareholders of record on Friday, April 15th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 12.25%. The ex-dividend date of this dividend is Wednesday, April 13th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 723.10%.

About PennyMac Mortgage Investment Trust (Get Rating)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

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Earnings History and Estimates for PennyMac Mortgage Investment Trust (NYSE:PMT)

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