PennyMac Mortgage Investment Trust (NYSE:PMT) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

PennyMac Mortgage Investment Trust (NYSE:PMT) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04, Zacks reports. PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%.

PennyMac Mortgage Investment Trust Price Performance

Shares of PennyMac Mortgage Investment Trust stock traded up $0.54 during trading on Friday, reaching $13.43. 391,939 shares of the stock traded hands, compared to its average volume of 670,724. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 9.86 and a beta of 1.50. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.41 and a quick ratio of 0.41. The business has a fifty day simple moving average of $12.97 and a two-hundred day simple moving average of $13.54. PennyMac Mortgage Investment Trust has a 52-week low of $11.77 and a 52-week high of $15.22.

PennyMac Mortgage Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, December 27th were given a $0.40 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.91%. PennyMac Mortgage Investment Trust’s payout ratio is currently 117.65%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PMT shares. Wedbush reaffirmed 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. JMP Securities reaffirmed a “market outperform” rating and set a $15.50 target price on shares of PennyMac Mortgage Investment Trust in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.20.

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.