$78.30 Million in Sales Expected for PennyMac Mortgage Investment Trust (PMT) This Quarter

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Wall Street analysts expect PennyMac Mortgage Investment Trust (NYSE:PMT) to announce $78.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for PennyMac Mortgage Investment Trust’s earnings, with estimates ranging from $73.10 million to $83.50 million. PennyMac Mortgage Investment Trust posted sales of $93.70 million in the same quarter last year, which suggests a negative year-over-year growth rate of 16.4%. The firm is expected to issue its next quarterly earnings results on Thursday, February 14th.

According to Zacks, analysts expect that PennyMac Mortgage Investment Trust will report full year sales of $315.65 million for the current financial year, with estimates ranging from $304.20 million to $327.10 million. For the next financial year, analysts expect that the business will post sales of $339.25 million, with estimates ranging from $308.70 million to $369.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.25. PennyMac Mortgage Investment Trust had a return on equity of 10.64% and a net margin of 40.40%. The company had revenue of $108.50 million for the quarter, compared to analysts’ expectations of $121.87 million. During the same period last year, the business earned $0.47 EPS. PennyMac Mortgage Investment Trust’s quarterly revenue was up 43.1% compared to the same quarter last year.

Several brokerages have weighed in on PMT. JMP Securities raised their price objective on PennyMac Mortgage Investment Trust from $20.00 to $21.00 and gave the company a “market outperform” rating in a research note on Friday. Wells Fargo & Co began coverage on PennyMac Mortgage Investment Trust in a research note on Tuesday, September 18th. They set a “market perform” rating and a $20.00 price objective on the stock. ValuEngine upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Credit Suisse Group raised their price objective on PennyMac Mortgage Investment Trust from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 25th. Finally, Barclays raised their price objective on PennyMac Mortgage Investment Trust from $15.00 to $18.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. PennyMac Mortgage Investment Trust currently has an average rating of “Buy” and a consensus price target of $20.40.

In other PennyMac Mortgage Investment Trust news, Director Marianne Sullivan bought 3,015 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was purchased at an average cost of $19.95 per share, with a total value of $60,149.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul Dufauchard Jr. Preston sold 5,300 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $19.52, for a total value of $103,456.00. The disclosure for this sale can be found here. 2.46% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Pinebridge Investments L.P. increased its position in shares of PennyMac Mortgage Investment Trust by 16.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 117,702 shares of the real estate investment trust’s stock valued at $2,235,000 after purchasing an additional 16,272 shares during the last quarter. Legal & General Group Plc increased its position in shares of PennyMac Mortgage Investment Trust by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 170,415 shares of the real estate investment trust’s stock valued at $3,239,000 after purchasing an additional 7,193 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 2nd quarter valued at $5,113,000. TD Asset Management Inc. purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 2nd quarter valued at $661,000. Finally, Royal Bank of Canada increased its position in shares of PennyMac Mortgage Investment Trust by 36.6% during the 1st quarter. Royal Bank of Canada now owns 39,270 shares of the real estate investment trust’s stock valued at $709,000 after purchasing an additional 10,516 shares during the last quarter. 68.19% of the stock is owned by hedge funds and other institutional investors.

NYSE:PMT traded down $0.16 during trading hours on Thursday, hitting $20.51. 559,589 shares of the company traded hands, compared to its average volume of 453,064. The company has a current ratio of 0.54, a quick ratio of 0.60 and a debt-to-equity ratio of 0.44. PennyMac Mortgage Investment Trust has a one year low of $14.87 and a one year high of $20.91. The stock has a market cap of $1.25 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 2.62 and a beta of 0.39.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Monday, October 15th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 9.17%. The ex-dividend date of this dividend was Friday, October 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 144.62%.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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