Brokerages expect the PennyMac Mortgage Investment Trust (NYSE:PMT) to report sales of $124.05 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates of PennyMac Mortgage Investment Trust’s earnings, with estimates ranging from $112.00 million to $136.10 million. The PennyMac Mortgage Investment Trust reported sales of $196.53 million during the same quarter last year, indicating a negative annual growth rate of 36.9%. The company is expected to announce its next quarterly earnings results on Thursday, February 3rd.
According to Zacks, analysts expect PennyMac Mortgage Investment Trust to report full-year sales of $495.00 million for the current fiscal year, with estimates ranging from $483.00 million to $507.00 million. For the next year, analysts expect the company to report sales of $546.65 million, with estimates ranging from $541.30 million to $552.00 million. Zacks Investment Research Sales Averages are an average based on a survey of research firms providing coverage for the PennyMac Mortgage Investment Trust.
PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings results on Thursday, November 4th. The REIT reported ($0.45) earnings per share for the quarter, topping the consensus estimate of $0.53 ($0.98). PennyMac Mortgage Investment Trust had a return on equity of 7.49% and a net margin of 26.51%. During the same period in the previous year, the company reported $0.94 per share.
Several research firms have influenced PMT. Jonestrading began coverage at the PennyMac Mortgage Investment Trust in a research report on Friday. They issued a “buy” rating and a $20.50 target price for the company. Zacks Investment Research lowered the PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research report released on Thursday. Keefe and Bruyette & Woods cut the PennyMac Mortgage Investment Trust from a “outstanding” rating to a “market performer” rating and lowered their target price for the stock from $21.00 to $19.75 in a research note on Tuesday, November 9th. B. Riley cut the price target on the PennyMac Mortgage Investment Trust from $23.00 to $22.00 and assigned a “buy” rating to the company in a research note on Thursday, December 9th. Finally, Piper Sandler lowered its price target in the PennyMac Mortgage Investment Trust from $21.00 to $20.00 and defined the company’s “overweight” rating in a research note on Wednesday, January 5th. They noted that this step was a call for evaluation. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.22.
In related news, director Scott W. Carnahan sold 4,796 shares of the company’s stock in a transaction that took place on Monday, October 25th. The stock sold for an average price of $20.33 for a total value of $97,7502.68. The sale was disclosed on file with the SEC, which can be accessed through the SEC website. 0.84% of the shares are currently owned by company insiders.
A number of institutional investors and hedge funds have recently added or decreased their equity stakes. Smith Graham & Co Investment Advisors LP raised its position in shares of PennyMac Mortgage Investment Trust by 3.9% during the third quarter. Smith Graham & Co Investment Advisors LP now owns 391,385 shares of REIT stock valued at $7,706,000 after purchasing an additional 14,725 shares during the last quarter. Invesco Ltd. Its stake in PennyMac Mortgage Investment Trust increased by 51.9% in the second quarter. Invesco Ltd. Now 628,645 shares of REIT stock are valued at $13,240,000 after acquiring an additional 214,837 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of PennyMac Mortgage Investment Trust in the second quarter valued at approximately $2,287,000. Profund Advisors LLC boosted its stake in PennyMac Mortgage Investment Trust by 5.8% in the second quarter. Profund Advisors LLC now owns 13,354 shares of REIT stock valued at $281,000 after acquiring an additional 728 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in PennyMac Mortgage Investment Trust by 7.6% during the second quarter. Parametric Portfolio Associates LLC now owns 318,502 shares of REIT stock valued at $6,708,000 after purchasing an additional 22,570 shares in the last quarter. 68.97% of the shares are owned by hedge funds and other institutional investors.
NYSE:PMT shares opened at $18.04 on Monday. The company has a market capitalization of $1.75 billion, a price-earnings ratio of 13.67 and a beta of 1.13. The company has a trading ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average of $18.26 and a 200-day moving average of $19.28. The PennyMac Mortgage Investment Trust has a 12-month low of $16.76 and a 12-month high of $21.53.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 31. Shareholders of record on Friday, December 31st will be paid a dividend of $0.47 per share. The date of exclusion from these earnings is Thursday, December 30th. This represents a dividend of $1.88 year-over-year and a return of 10.42%. The PennyMac Mortgage Investment Trust (DPR) has a dividend yield ratio of 142.43%.
About the PennyMac Mortgage Investing Fund
PennyMac Mortgage Investment Trust is a financing company that invests primarily in residential mortgage loans and mortgage-related assets. It operates through the following segments: correspondent production, sensitive credit strategies, sensitive interest rate strategies, and corporate activities. The Correspondent Production segment deals with the purchase, consolidation and resale of newly created high-quality mortgage loans either directly or in the form of mortgage-backed securities in the capital markets.
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