PennyMac Mortgage Investment Trust Expected to Post Q3 2024 Earnings of $0.36 Per Share (NYSE:PMT)

PennyMac Mortgage Investment Trust (NYSE:PMT) – Research analysts at B. Riley reduced their Q3 2024 earnings per share estimates for shares of PennyMac Mortgage Investment Trust in a report released on Wednesday, July 24th. B. Riley analyst M. Howlett now anticipates that the real estate investment trust will post earnings of $0.36 per share for the quarter, down from their previous forecast of $0.41. B. Riley currently has a “Buy” rating and a $16.00 target price on the stock. The consensus estimate for PennyMac Mortgage Investment Trust’s current full-year earnings is $1.43 per share.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.17). The company had revenue of $71.20 million for the quarter, compared to analyst estimates of $90.26 million. PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. During the same quarter in the prior year, the firm earned $0.16 earnings per share.

PMT has been the topic of several other research reports. Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday. Wedbush reaffirmed a “neutral” rating and set a $15.00 price target on shares of PennyMac Mortgage Investment Trust in a research report on Thursday. Piper Sandler reduced their price target on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, JMP Securities boosted their target price on PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.93.

PennyMac Mortgage Investment Trust Stock Up 1.8 %

PMT stock opened at $13.56 on Friday. The firm has a market cap of $1.18 billion, a PE ratio of 9.04 and a beta of 1.51. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.34 and a current ratio of 0.33. The firm’s 50 day moving average price is $13.92 and its 200-day moving average price is $14.13. PennyMac Mortgage Investment Trust has a one year low of $10.52 and a one year high of $15.89.

PennyMac Mortgage Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 11.80%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 106.67%.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Institutional investors have recently modified their holdings of the business. Roble Belko & Company Inc acquired a new position in shares of PennyMac Mortgage Investment Trust in the first quarter worth $29,000. National Bank of Canada FI grew its stake in shares of PennyMac Mortgage Investment Trust by 94.9% in the fourth quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 1,603 shares in the last quarter. EntryPoint Capital LLC grew its stake in shares of PennyMac Mortgage Investment Trust by 251.8% during the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 5,015 shares in the last quarter. Essex Financial Services Inc. purchased a new position in PennyMac Mortgage Investment Trust in the fourth quarter valued at $150,000. Finally, Entropy Technologies LP purchased a new position in PennyMac Mortgage Investment Trust in the first quarter valued at $149,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

About PennyMac Mortgage Investment Trust

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.