Analysts Anticipate PennyMac Mortgage Investment Trust (NYSE:PMT) Will Announce Earnings of $0.57 Per Share

Equities research analysts expect PennyMac Mortgage Investment Trust (NYSE:PMT) to post earnings per share of $0.57 for the current quarter, according to Zacks. Two analysts have issued estimates for PennyMac Mortgage Investment Trust’s earnings, with the highest EPS estimate coming in at $0.64 and the lowest estimate coming in at $0.52. PennyMac Mortgage Investment Trust posted earnings of $4.51 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 87.4%. The firm is expected to issue its next quarterly earnings results on Thursday, August 5th.

According to Zacks, analysts expect that PennyMac Mortgage Investment Trust will report full year earnings of $2.35 per share for the current year, with EPS estimates ranging from $2.29 to $2.45. For the next year, analysts expect that the business will post earnings of $2.17 per share, with EPS estimates ranging from $2.12 to $2.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Thursday, May 6th. The real estate investment trust reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. PennyMac Mortgage Investment Trust had a return on equity of 35.75% and a net margin of 60.51%.

Several research firms have recently weighed in on PMT. TheStreet upgraded PennyMac Mortgage Investment Trust from a “d+” rating to a “c-” rating in a research report on Thursday, March 25th. Wells Fargo & Company raised their target price on PennyMac Mortgage Investment Trust from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, May 13th. Barclays raised their target price on PennyMac Mortgage Investment Trust from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday. BTIG Research restated a “hold” rating on shares of PennyMac Mortgage Investment Trust in a research report on Friday, April 23rd. Finally, Zacks Investment Research downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.75.

In other PennyMac Mortgage Investment Trust news, Director Marianne Sullivan sold 7,583 shares of the firm’s stock in a transaction on Monday, June 7th. The stock was sold at an average price of $20.17, for a total transaction of $152,949.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott W. Carnahan sold 1,419 shares of the firm’s stock in a transaction on Wednesday, June 2nd. The stock was sold at an average price of $19.92, for a total value of $28,266.48. Following the sale, the director now directly owns 58,110 shares of the company’s stock, valued at approximately $1,157,551.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,776 shares of company stock worth $196,463. 0.84% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of PMT. Norges Bank acquired a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth $22,037,000. BlackRock Inc. increased its stake in PennyMac Mortgage Investment Trust by 5.3% during the fourth quarter. BlackRock Inc. now owns 17,729,159 shares of the real estate investment trust’s stock worth $311,856,000 after acquiring an additional 892,002 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in PennyMac Mortgage Investment Trust during the first quarter worth $15,285,000. Ieq Capital LLC acquired a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth $13,673,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in PennyMac Mortgage Investment Trust by 105.5% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,091,600 shares of the real estate investment trust’s stock worth $19,201,000 after acquiring an additional 560,500 shares during the last quarter. 68.79% of the stock is owned by institutional investors.

Shares of NYSE PMT traded down $0.15 during midday trading on Friday, hitting $20.49. The stock had a trading volume of 8,840 shares, compared to its average volume of 840,857. The firm has a market capitalization of $2.01 billion, a P/E ratio of 2.99 and a beta of 1.17. The company’s 50 day simple moving average is $19.72. PennyMac Mortgage Investment Trust has a 1 year low of $13.82 and a 1 year high of $20.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.54 and a quick ratio of 0.54.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 29th. Investors of record on Thursday, April 15th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Wednesday, April 14th. This represents a $1.88 dividend on an annualized basis and a yield of 9.18%. PennyMac Mortgage Investment Trust’s payout ratio is 696.30%.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in mortgage-related assets in the United States. The company operates through Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Correspondent Production segments. Its 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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