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

PennyMac Mortgage Investment Trust (NYSE:PMT) declared a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Shareholders 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 yield of 11.81%. The ex-dividend date is Friday, December 27th.

PennyMac Mortgage Investment Trust has increased its dividend payment by an average of 21.8% annually over the last three years. PennyMac Mortgage Investment Trust has a payout ratio of 103.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 %

Shares of NYSE:PMT traded up $0.12 during trading hours on Friday, hitting $13.55. The company’s stock had a trading volume of 434,383 shares, compared to its average volume of 718,592. 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 firm’s fifty day moving average price is $13.60 and its 200 day moving average price is $13.79. PennyMac Mortgage Investment Trust has a 52 week low of $12.81 and a 52 week high of $15.89. The company has a market capitalization 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 issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $80.86 million for the quarter, compared to analysts’ expectations of $93.75 million. PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. During the same quarter last year, the company earned $0.51 earnings per share. As a group, research analysts expect that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.