PennyMac Mortgage Investment Trust (NYSE:PMT) to Issue $0.40 Quarterly Dividend

PennyMac Mortgage Investment Trust (NYSE:PMT) announced a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Stockholders of record on Friday, December 27th will be paid a dividend of 0.40 per share by the real estate investment trust on Friday, January 24th. This represents a $1.60 annualized dividend and a dividend yield of 11.81%. The ex-dividend date of this dividend is Friday, December 27th.

PennyMac Mortgage Investment Trust has increased its dividend by an average of 21.8% annually over the last three years. PennyMac Mortgage Investment Trust has a dividend payout ratio of 103.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect PennyMac Mortgage Investment Trust to earn $1.56 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 102.6%.

PennyMac Mortgage Investment Trust Stock Up 0.9 %

PennyMac Mortgage Investment Trust stock traded up $0.12 during mid-day trading on Friday, hitting $13.55. The company had a trading volume of 434,383 shares, compared to its average volume of 718,592. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.56. PennyMac Mortgage Investment Trust has a 1 year low of $12.81 and a 1 year high of $15.89. The business has a fifty day moving average of $13.60 and a 200 day moving average of $13.79. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 9.96 and a beta of 1.50.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. The company had revenue of $80.86 million during the quarter, compared to analysts’ expectations of $93.75 million. During the same period last year, the business earned $0.51 earnings per share. On average, sell-side analysts expect that PennyMac Mortgage Investment Trust will post 1.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wedbush reiterated a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.17.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.