$73.90 Million in Sales Expected for PennyMac Mortgage Investment Trust (NYSE:PMT) This Quarter
Equities research analysts expect PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) to report sales of $73.90 million for the current quarter, according to Zacks. Two analysts have issued estimates for PennyMac Mortgage Investment Trust’s earnings, with estimates ranging from $39.00 million to $108.80 million. PennyMac Mortgage Investment Trust reported sales of $201.40 million during the same quarter last year, which would suggest a negative year over year growth rate of 63.3%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that PennyMac Mortgage Investment Trust will report full-year sales of $430.00 million for the current year, with estimates ranging from $417.00 million to $443.00 million. For the next fiscal year, analysts expect that the firm will post sales of $484.45 million, with estimates ranging from $464.90 million to $504.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow PennyMac Mortgage Investment Trust.
PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) last announced its quarterly earnings results on Thursday, February 3rd. The real estate investment trust reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.77). PennyMac Mortgage Investment Trust had a net margin of 13.53% and a return on equity of 2.89%. During the same period in the previous year, the business posted $0.78 earnings per share.
A number of research analysts recently weighed in on PMT shares. StockNews.com assumed coverage on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a report on Thursday, April 7th. Barclays lowered their price objective on shares of PennyMac Mortgage Investment Trust from $19.00 to $18.00 in a research report on Monday, January 10th. Piper Sandler decreased their price target on shares of PennyMac Mortgage Investment Trust from $19.00 to $18.50 and set an “overweight” rating for the company in a research report on Tuesday, April 5th. Finally, BTIG Research raised shares of PennyMac Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $18.50 price objective for the company in a research report on Friday, January 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, PennyMac Mortgage Investment Trust currently has a consensus rating of “Hold” and an average target price of $19.91.
NYSE:PMT opened at $15.06 on Friday. PennyMac Mortgage Investment Trust has a one year low of $14.61 and a one year high of $21.53. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 57.93 and a beta of 1.13. The firm’s fifty day moving average is $16.07 and its two-hundred day moving average is $17.58.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 28th. Stockholders of record on Friday, April 15th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, April 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.48%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 723.10%.
In other PennyMac Mortgage Investment Trust news, Director Scott W. Carnahan sold 1,785 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marianne Sullivan bought 15,650 shares of the firm’s stock in a transaction dated Thursday, February 24th. The stock was purchased at an average price of $15.02 per share, with a total value of $235,063.00. The disclosure for this purchase can be found here. 0.84% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its position in shares of PennyMac Mortgage Investment Trust by 1,116.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,650 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 3,350 shares in the last quarter. Selective Wealth Management Inc. acquired a new position in shares of PennyMac Mortgage Investment Trust in the 1st quarter worth approximately $62,000. Penserra Capital Management LLC acquired a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter worth approximately $84,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of PennyMac Mortgage Investment Trust in the 3rd quarter worth approximately $191,000. Finally, Capital Square LLC acquired a new position in shares of PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $189,000. Institutional investors own 70.84% of the company’s stock.
PennyMac Mortgage Investment Trust Company Profile (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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