Brokerages Expect PennyMac Mortgage Investment Trust (PMT) to Announce $0.29 EPS

Equities research analysts expect PennyMac Mortgage Investment Trust (NYSE:PMT) to report earnings of $0.29 per share for the current quarter, according to Zacks. Zero analysts have made estimates for PennyMac Mortgage Investment Trust’s earnings. PennyMac Mortgage Investment Trust posted earnings per share of $0.40 during the same quarter last year, which indicates a negative year-over-year growth rate of 27.5%. The business is expected to issue its next quarterly earnings results on Thursday, May 3rd.

On average, analysts expect that PennyMac Mortgage Investment Trust will report full-year earnings of $1.63 per share for the current year, with EPS estimates ranging from $1.56 to $1.69. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). PennyMac Mortgage Investment Trust had a return on equity of 6.83% and a net margin of 34.34%. The business had revenue of $93.70 million during the quarter, compared to analysts’ expectations of $80.43 million. During the same quarter in the previous year, the business earned $0.44 EPS. The business’s revenue for the quarter was up 36.0% on a year-over-year basis.

A number of analysts have weighed in on PMT shares. ValuEngine upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.50.

PennyMac Mortgage Investment Trust (PMT) traded up $0.19 during mid-day trading on Friday, reaching $17.10. The company’s stock had a trading volume of 585,385 shares, compared to its average volume of 1,190,000. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.78 and a current ratio of 0.78. PennyMac Mortgage Investment Trust has a twelve month low of $14.87 and a twelve month high of $18.46. The stock has a market capitalization of $1,120.00, a price-to-earnings ratio of 11.96 and a beta of 0.49.

The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, December 29th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.88 annualized dividend and a dividend yield of 10.99%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 131.47%.

PennyMac Mortgage Investment Trust declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 20th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 34.9% during the third quarter. SG Americas Securities LLC now owns 52,504 shares of the real estate investment trust’s stock valued at $913,000 after buying an additional 13,596 shares during the period. BlackRock Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 0.3% during the second quarter. BlackRock Inc. now owns 6,319,656 shares of the real estate investment trust’s stock valued at $115,585,000 after buying an additional 17,300 shares during the period. Stifel Financial Corp increased its stake in shares of PennyMac Mortgage Investment Trust by 10.3% during the third quarter. Stifel Financial Corp now owns 116,333 shares of the real estate investment trust’s stock valued at $2,023,000 after buying an additional 10,864 shares during the period. Magnetar Financial LLC increased its stake in shares of PennyMac Mortgage Investment Trust by 197.9% during the third quarter. Magnetar Financial LLC now owns 35,905 shares of the real estate investment trust’s stock valued at $624,000 after buying an additional 23,851 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of PennyMac Mortgage Investment Trust by 0.9% during the second quarter. Vanguard Group Inc. now owns 5,236,924 shares of the real estate investment trust’s stock valued at $95,783,000 after buying an additional 49,187 shares during the period. Hedge funds and other institutional investors own 62.16% of the company’s stock.

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PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.

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