Brokerages predict that PennyMac Mortgage Investment Trust (NYSE: PMT) will report sales of $ 124.05 million for the current fiscal quarter, according to Zack. Two analysts have estimated the earnings of PennyMac Mortgage Investment Trust, with estimates ranging from $ 112.00 million to $ 136.10 million. PennyMac Mortgage Investment Trust recorded sales of $ 196.53 million in the same quarter of last year, suggesting a negative year-over-year growth rate of 36.9%. The company is expected to release its next quarterly results on Thursday, February 3.
According to Zacks, analysts expect PennyMac Mortgage Investment Trust to report annual revenue of $ 495.00 million for the current fiscal year, with estimates ranging from $ 483.00 million to $ 507.00 million of dollars. For next year, analysts predict the company will post 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 companies that provide coverage for PennyMac Mortgage Investment Trust.
PennyMac Mortgage Investment Trust (NYSE: PMT) last released its quarterly results on Thursday, November 4. The REIT reported ($ 0.45) EPS for the quarter, missing 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 of the previous year, the company posted EPS of $ 0.94.
Several research companies have weighed on PMT. Jonestrading began covering PennyMac Mortgage Investment Trust in a research report on Friday. They issued a “buy” note and a target price of $ 20.50 for the company. Zacks investment research downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research report released Thursday. Keefe, Bruyette & Woods reduced PennyMac Mortgage Investment Trust from an “outperformance” rating to a “market performance” rating and reduced their target price for the share from $ 21.00 to $ 19.75 in a research note Tuesday, November 9. B. Riley reduced his target price on PennyMac Mortgage Investment Trust from $ 23.00 to $ 22.00 and set a “buy” rating for the company in a research note on Thursday, December 9. Finally, Piper Sandler lowered her price target on PennyMac Mortgage Investment Trust from $ 21.00 to $ 20.00 and set an “overweight” rating for the company in a research note on Wednesday, January 5. They noted that the move was an appraisal call. One analyst rated the stock with a sell rating, three issued a conservation rating, and five assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $ 20.22.
In related news, the director Scott W. Carnahan sold 4,796 shares of the company in a transaction that took place on Monday, October 25. The stock was sold for an average price of $ 20.33, for a total value of $ 97,502.68. The sale was disclosed in a filing with the SEC, which can be accessed via the SEC website. 0.84% of the shares are currently held by insiders of the company.
A number of institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Smith Graham & Co. Investment Advisors LP increased its position in the shares of PennyMac Mortgage Investment Trust by 3.9% during the third quarter. Smith Graham & Co. Investment Advisors LP now owns 391,385 real estate investment trust shares valued at $ 7,706,000 after purchasing an additional 14,725 shares in the last quarter. Invesco Ltd. increased its holdings of PennyMac Mortgage Investment Trust shares by 51.9% in the second quarter. Invesco Ltd. now owns 628,645 real estate investment trust shares 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 increased its holdings of PennyMac Mortgage Investment Trust shares by 5.8% in the second quarter. Profund Advisors LLC now owns 13,354 real estate investment trust shares worth $ 281,000 after acquiring an additional 728 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in PennyMac Mortgage Investment Trust by 7.6% during the second quarter. Parametric Portfolio Associates LLC now owns 318,502 real estate investment trust shares worth $ 6,708,000 after purchasing an additional 22,570 shares during the last quarter. 68.97% of the shares are held by hedge funds and other institutional investors.
NYSE: PMT shares opened at $ 18.04 on Monday. The company has a market cap of $ 1.75 billion, a price-to-earnings ratio of 13.67 and a beta of 1.13. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt to equity ratio of 0.72. The company has a 50-day moving average price of $ 18.26 and a 200-day moving average price of $ 19.28. PennyMac Mortgage Investment Trust has a 12 month low of $ 16.76 and a 12 month high of $ 21.53.
The company also recently unveiled a quarterly dividend, which will be paid on Monday, January 31. Shareholders of record on Friday, December 31 will receive a dividend of $ 0.47 per share. The ex-dividend date for this dividend is Thursday, December 30. This represents a dividend of $ 1.88 on an annualized basis and a return of 10.42%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is currently 142.43%.
About the PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust is a finance company that invests primarily in residential mortgage loans and mortgage related assets. It operates in the following segments: correspondent production, credit sensitive strategies, interest rate sensitive strategies and corporate activities. The Correspondent Generation segment is engaged in the purchase, pooling and resale of newly issued premium mortgages, either directly or in the form of mortgage backed securities in the capital markets. .
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