Mortgage

PennyMac Mortgage Investment Trust (NYSE:PMT) Expected to Post Earnings of $0.51 Per Share

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Wall Street brokers expect PennyMac Mortgage Investment Trust (NYSE:PMT) to report earnings per share of $0.51 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for PennyMac Mortgage Investment Trust’s earnings, with estimates ranging from $0.42 to $0.62. PennyMac Mortgage Investment Trust reported earnings per share of $0.78 in the same quarter last year, indicating a negative year-over-year growth rate of 34.6%. The company is expected to release its next quarterly earnings report on Thursday, February 3rd.

According to Zacks, analysts expect PennyMac Mortgage Investment Trust to report full-year earnings of $1.17 per share for the current year. For the upcoming fiscal year, analysts expect the company to report earnings of $1.94 per share, with EPS estimates ranging from $1.70 to $2.12. Zacks EPS is an average based on a survey of research analysts who follow the PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) announced its earnings results on Thursday, November 4th. The REIT reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company reported $0.94 per share.

A number of stock analysts commented on the stock. JMP Securities raised its price target for PennyMac Mortgage Investment Trust from $20.50 to $22.00 and gave the stock an “outperform to market” rating in a research report on Monday, October 18th. B. Riley cut his price target on the PennyMac Mortgage Investment Trust from $23.00 to $22.00 and placed a “buy” rating on the company in a report released on Thursday, December 9th. Zacks Investment Research Trust upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a report released on Tuesday, October 19. Finally, Keefe and Bruyette & Woods downgraded PennyMac Mortgage Investment Trust from “outstanding” to “market perform” and lowered their target price for the stock from $21.00 to $19.75 in a report released on Tuesday, November 9th. Five analysts have rated the stock with a hold rating, and two have given the stock a buy rating. Based on MarketBeat data, the stock has an average rating of “Hold” and a target price of $20.55.

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In related news, director Scott W. Carnahan sold 2,250 shares of stock in a transaction on Monday, September 27. The stock sold for an average price of $20.00, with a total value of $45,000.00. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available through this hyperlink. Director Scott W. Carnahan also sold 4,796 shares of stock in a transaction on Monday, October 25th. The stock sold for an average price of $20.33 for a total value of $97,7502.68. The disclosure of this sale can be found here. Insiders own 0.84% ​​of the company’s shares.

Several hedge funds and other institutional investors have recently made changes to their PMT positions. Goldman Sachs Group Inc. Its position in shares of PennyMac Mortgage Investment Trust increased by 26.8% in the second quarter. Goldman Sachs Group Inc. owns. There are now 4,597,697 shares of REIT stock valued at $96,828,000 after purchasing an additional 971,438 shares during the last quarter. K2 Major Fund LP boosted its holdings in PennyMac Mortgage Investment Trust by 213.2% in the third quarter. K2 Principal Fund LP now owns 1,200,315 shares of REIT stock valued at $23,634,000 after acquiring an additional 817,086 shares last quarter. Par Capital Management Inc. purchased a new stake in PennyMac Mortgage Investment Trust in the 3rd quarter valued at $42,278,000. Invesco Ltd. Its stake in PennyMac Mortgage Investment Trust increased by 78.6% in the third quarter. Invesco Ltd. Now 1,122,705 shares of REIT stock are valued at $22,106,000 after acquiring an additional 494,060 shares in the last quarter. Finally, Amundi bought a new stake in PennyMac Mortgage Investment Trust in the second quarter valued at $8,558,000. 68.97% of the shares are currently owned by institutional investors.

PMT shares opened at $17.43 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a trading ratio of 0.63. The PennyMac Mortgage Investment Trust has a 52-week low of $16.86 and a 52-week high of $21.53. The company has a market capitalization of $1.69 billion, a price-earnings ratio of 13.20 and a beta of 1.13. The company’s 50-day moving average is $19.03 and its 200-day moving average is $19.59.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 31. Shareholders of record on Friday, December 31, will issue a dividend of $0.47 per share. This represents $1.88 in annual earnings and a dividend yield of 10.79%. The due date is Thursday, December 30th. The PennyMac Mortgage Investment Trust (DPR) has a dividend yield ratio of 142.43%.

PennyMac Mortgage Investment Trust Company Profile

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

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