PennyMac Mortgage Investment Trust (NYSE:PMT) – Wedbush boosted their Q1 2020 earnings estimates for shares of PennyMac Mortgage Investment Trust in a research report issued on Tuesday, November 5th. Wedbush analyst H. Coffey now expects that the real estate investment trust will post earnings per share of $0.50 for the quarter, up from their previous forecast of $0.43. Wedbush currently has a “Neutral” rating on the stock. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q2 2020 earnings at $0.52 EPS, Q3 2020 earnings at $0.53 EPS and Q4 2020 earnings at $0.56 EPS.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.20. The company had revenue of $130.76 million during the quarter, compared to the consensus estimate of $116.95 million. PennyMac Mortgage Investment Trust had a return on equity of 13.38% and a net margin of 50.13%. During the same period in the previous year, the company posted $0.62 EPS.

PMT has been the subject of several other reports. Deutsche Bank assumed coverage on PennyMac Mortgage Investment Trust in a research report on Friday, October 11th. They issued a “buy” rating and a $24.00 target price for the company. Bank of America assumed coverage on PennyMac Mortgage Investment Trust in a research report on Monday, September 23rd. They issued a “buy” rating and a $23.00 target price for the company. Finally, Zacks Investment Research downgraded PennyMac Mortgage Investment Trust from a “strong-buy” rating to a “hold” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $23.14.

NYSE PMT opened at $22.70 on Friday. The company has a market cap of $2.06 billion, a P/E ratio of 11.41, a P/E/G ratio of 1.85 and a beta of 0.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.56 and a quick ratio of 0.43. The stock has a 50-day moving average of $22.51 and a two-hundred day moving average of $21.88. PennyMac Mortgage Investment Trust has a 1-year low of $17.88 and a 1-year high of $23.35.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Monday, October 14th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 8.28%. The ex-dividend date of this dividend was Thursday, October 10th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 94.47%.

Several institutional investors have recently made changes to their positions in PMT. Flagship Harbor Advisors LLC grew its position in shares of PennyMac Mortgage Investment Trust by 97.9% during the second quarter. Flagship Harbor Advisors LLC now owns 2,021 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,000 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of PennyMac Mortgage Investment Trust during the second quarter worth about $45,000. NEXT Financial Group Inc grew its position in shares of PennyMac Mortgage Investment Trust by 334.0% during the second quarter. NEXT Financial Group Inc now owns 2,756 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 2,121 shares in the last quarter. Signaturefd LLC grew its position in shares of PennyMac Mortgage Investment Trust by 229.1% during the second quarter. Signaturefd LLC now owns 2,873 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 2,000 shares in the last quarter. Finally, Catalyst Capital Advisors LLC grew its position in shares of PennyMac Mortgage Investment Trust by 147.6% during the third quarter. Catalyst Capital Advisors LLC now owns 5,250 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 3,130 shares in the last quarter. 71.45% of the stock is owned by institutional investors and hedge funds.

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

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