PennyMac Mortgage Investment Trust (NYSE:PMT) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.18), reports. The firm had revenue of $75.80 million for the quarter, compared to analysts’ expectations of $81.72 million. PennyMac Mortgage Investment Trust had a net margin of 37.97% and a return on equity of 8.67%. The business’s quarterly revenue was down 26.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.06 EPS.

Shares of PennyMac Mortgage Investment Trust (PMT) traded down $1.01 during midday trading on Friday, reaching $15.22. The company’s stock had a trading volume of 1,456,363 shares, compared to its average volume of 505,649. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 9.45 and a beta of 0.54.

The business also recently announced a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Friday, October 13th were paid a $0.47 dividend. The ex-dividend date was Thursday, October 12th. This represents a $1.88 annualized dividend and a yield of 12.35%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 109.94%.

Several equities analysts have recently commented on PMT shares. BidaskClub lowered PennyMac Mortgage Investment Trust from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods lowered PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and cut their target price for the company from $19.00 to $18.00 in a research note on Tuesday, October 10th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. PennyMac Mortgage Investment Trust presently has a consensus rating of “Hold” and an average price target of $17.00.

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In other PennyMac Mortgage Investment Trust news, insider David Spector sold 18,750 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $17.61, for a total value of $330,187.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 75,000 shares of company stock worth $1,299,563 in the last quarter. 1.80% of the stock is owned by insiders.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.

Earnings History for PennyMac Mortgage Investment Trust (NYSE:PMT)

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