PennyMac Mortgage Investment Trust (NYSE:PMT) to Post Q2 2022 Earnings of $0.36 Per Share, Wedbush Forecasts

PennyMac Mortgage Investment Trust (NYSE:PMTGet Rating) – Stock analysts at Wedbush upped their Q2 2022 earnings per share (EPS) estimates for PennyMac Mortgage Investment Trust in a report issued on Wednesday, May 11th. Wedbush analyst H. Coffey now expects that the real estate investment trust will earn $0.36 per share for the quarter, up from their previous forecast of $0.35. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q3 2022 earnings at $0.40 EPS and Q4 2022 earnings at $0.40 EPS.

Several other analysts have also commented on the stock. Zacks Investment Research lowered shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Piper Sandler lowered their price objective on shares of PennyMac Mortgage Investment Trust from $19.00 to $18.50 and set an “overweight” rating on the stock in a research report on Tuesday, April 5th. JMP Securities lowered their price objective on shares of PennyMac Mortgage Investment Trust from $22.00 to $18.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 26th. TheStreet lowered shares of PennyMac Mortgage Investment Trust from a “c-” rating to a “d” rating in a research report on Friday, May 6th. Finally, StockNews.com raised shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.96.

PennyMac Mortgage Investment Trust stock opened at $15.36 on Monday. The stock has a market cap of $1.50 billion, a PE ratio of -21.04 and a beta of 1.11. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.65 and a current ratio of 0.52. PennyMac Mortgage Investment Trust has a fifty-two week low of $14.61 and a fifty-two week high of $21.53. The firm’s 50-day simple moving average is $15.98 and its 200 day simple moving average is $17.03.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 28th. Investors of record on Friday, April 15th were paid a dividend of $0.47 per share. The ex-dividend date was Wednesday, April 13th. This represents a $1.88 annualized dividend and a yield of 12.24%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently -257.53%.

In related news, Director Marianne Sullivan purchased 15,650 shares of the business’s stock in a transaction on Thursday, February 24th. The stock was acquired at an average price of $15.02 per share, with a total value of $235,063.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott W. Carnahan sold 1,785 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was 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 insiders.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 0.5% during the fourth quarter. BlackRock Inc. now owns 17,639,276 shares of the real estate investment trust’s stock valued at $305,689,000 after buying an additional 91,238 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,801,513 shares of the real estate investment trust’s stock worth $182,438,000 after purchasing an additional 85,349 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of PennyMac Mortgage Investment Trust by 6.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,022,501 shares of the real estate investment trust’s stock worth $87,040,000 after purchasing an additional 305,375 shares during the last quarter. State Street Corp grew its stake in shares of PennyMac Mortgage Investment Trust by 2.0% in the fourth quarter. State Street Corp now owns 3,423,347 shares of the real estate investment trust’s stock worth $60,932,000 after purchasing an additional 67,667 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of PennyMac Mortgage Investment Trust by 98.7% in the fourth quarter. Invesco Ltd. now owns 2,230,488 shares of the real estate investment trust’s stock worth $38,654,000 after purchasing an additional 1,107,783 shares during the last quarter. 70.77% of the stock is currently owned by hedge funds and other institutional investors.

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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