PennyMac Mortgage Investment Trust (NYSE:PMT) released its earnings results on Thursday. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.25, MarketWatch Earnings reports. PennyMac Mortgage Investment Trust had a net margin of 36.14% and a return on equity of 8.37%. The company had revenue of $108.50 million during the quarter, compared to the consensus estimate of $121.87 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The company’s revenue was up 43.1% compared to the same quarter last year.
Shares of PennyMac Mortgage Investment Trust stock traded up $1.19 during midday trading on Friday, reaching $20.43. 1,083,900 shares of the company’s stock traded hands, compared to its average volume of 576,334. The company has a market capitalization of $1.18 billion, a P/E ratio of 15.72, a P/E/G ratio of 2.48 and a beta of 0.38. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.50. PennyMac Mortgage Investment Trust has a 52 week low of $14.87 and a 52 week high of $20.47.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Monday, October 15th were issued a dividend of $0.47 per share. The ex-dividend date was Friday, October 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.20%. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 144.62%.
In other PennyMac Mortgage Investment Trust news, Director Marianne Sullivan purchased 3,015 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were acquired at an average price of $19.95 per share, for a total transaction of $60,149.25. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider David Spector sold 5,490 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $19.56, for a total transaction of $107,384.40. The disclosure for this sale can be found here. 2.46% of the stock is currently owned by company insiders.
A number of equities research analysts have issued reports on PMT shares. ValuEngine upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Barclays increased their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 25th. JMP Securities increased their target price on shares of PennyMac Mortgage Investment Trust from $20.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Friday. Wells Fargo & Co started coverage on shares of PennyMac Mortgage Investment Trust in a research report on Tuesday, September 18th. They issued a “market perform” rating and a $20.00 target price for the company. Finally, Credit Suisse Group increased their target price on shares of PennyMac Mortgage Investment Trust from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. PennyMac Mortgage Investment Trust presently has an average rating of “Buy” and a consensus target price of $20.40.
About PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).
Featured Story: New Google Finance Tool and Screening Stocks
Receive News & Ratings for PennyMac Mortgage Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Mortgage Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.