Wall Street brokerages forecast that PennyMac Mortgage Investment Trust (NYSE:PMT) will report earnings per share of $0.34 for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for PennyMac Mortgage Investment Trust’s earnings. PennyMac Mortgage Investment Trust posted earnings per share of $0.44 in the same quarter last year, which would indicate a negative year over year growth rate of 22.7%. The company is scheduled to report its next quarterly earnings report on Thursday, February 1st.

According to Zacks, analysts expect that PennyMac Mortgage Investment Trust will report full-year earnings of $1.32 per share for the current financial year, with EPS estimates ranging from $1.31 to $1.32. For the next financial year, analysts forecast that the business will post earnings of $1.63 per share, with EPS estimates ranging from $1.56 to $1.69. Zacks’ EPS calculations are an average based on a survey of research firms that follow PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.18). PennyMac Mortgage Investment Trust had a return on equity of 7.59% and a net margin of 36.07%. The company had revenue of $75.80 million during the quarter, compared to analyst estimates of $81.72 million. During the same period in the prior year, the business posted $1.06 earnings per share. PennyMac Mortgage Investment Trust’s revenue was down 26.6% on a year-over-year basis.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research report on Thursday. Keefe, Bruyette & Woods cut shares of PennyMac Mortgage Investment Trust from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $19.00 to $18.00 in a research report on Tuesday, October 10th. Finally, ValuEngine cut shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. PennyMac Mortgage Investment Trust currently has an average rating of “Hold” and an average target price of $18.50.

PennyMac Mortgage Investment Trust (PMT) traded up $0.17 on Friday, hitting $16.04. 566,922 shares of the company traded hands, compared to its average volume of 701,700. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.78 and a quick ratio of 0.78. PennyMac Mortgage Investment Trust has a twelve month low of $14.87 and a twelve month high of $18.46. The firm has a market capitalization of $1,050.00, a PE ratio of 12.24 and a beta of 0.52.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.88 dividend on an annualized basis and a yield of 11.72%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is 143.51%.

PennyMac Mortgage Investment Trust declared that its Board of Directors has authorized a share repurchase plan on Wednesday, December 20th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other PennyMac Mortgage Investment Trust news, insider David Spector sold 18,750 shares of PennyMac Mortgage Investment Trust stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $17.39, for a total transaction of $326,062.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.08% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Martingale Asset Management L P lifted its position in PennyMac Mortgage Investment Trust by 30.1% during the second quarter. Martingale Asset Management L P now owns 246,523 shares of the real estate investment trust’s stock valued at $4,509,000 after buying an additional 57,101 shares in the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of PennyMac Mortgage Investment Trust during the second quarter valued at approximately $315,000. SG Americas Securities LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 34.9% during the third quarter. SG Americas Securities LLC now owns 52,504 shares of the real estate investment trust’s stock valued at $913,000 after purchasing an additional 13,596 shares during the period. BlackRock Inc. raised its stake in shares of PennyMac Mortgage Investment Trust by 0.3% during the second quarter. BlackRock Inc. now owns 6,319,656 shares of the real estate investment trust’s stock valued at $115,585,000 after purchasing an additional 17,300 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of PennyMac Mortgage Investment Trust by 107.6% during the second quarter. BNP Paribas Arbitrage SA now owns 15,184 shares of the real estate investment trust’s stock valued at $278,000 after purchasing an additional 7,871 shares during the period. 62.95% of the stock is currently owned by hedge funds and other institutional investors.

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PennyMac Mortgage Investment Trust Company Profile

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.

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