Brokerages forecast that PennyMac Mortgage Investment Trust (NYSE:PMT) will post $89.10 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for PennyMac Mortgage Investment Trust’s earnings, with estimates ranging from $80.40 million to $94.00 million. PennyMac Mortgage Investment Trust posted sales of $75.67 million during the same quarter last year, which suggests a positive year over year growth rate of 17.7%. The company is expected to report its next earnings report on Thursday, May 2nd.

On average, analysts expect that PennyMac Mortgage Investment Trust will report full-year sales of $380.37 million for the current financial year, with estimates ranging from $350.70 million to $404.90 million. For the next fiscal year, analysts expect that the firm will report sales of $406.00 million, with estimates ranging from $375.80 million to $430.60 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last announced its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $83.90 million for the quarter, compared to analyst estimates of $138.40 million. PennyMac Mortgage Investment Trust had a return on equity of 12.19% and a net margin of 43.52%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS.

A number of analysts have issued reports on PMT shares. Zacks Investment Research downgraded PennyMac Mortgage Investment Trust from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Nomura started coverage on PennyMac Mortgage Investment Trust in a research note on Wednesday, March 27th. They issued a “buy” rating and a $23.00 target price for the company. Barclays set a $21.00 target price on PennyMac Mortgage Investment Trust and gave the stock a “hold” rating in a research note on Thursday, March 7th. Keefe, Bruyette & Woods raised PennyMac Mortgage Investment Trust from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $22.00 to $23.00 in a research note on Sunday, February 24th. Finally, ValuEngine downgraded PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. PennyMac Mortgage Investment Trust currently has an average rating of “Buy” and a consensus target price of $21.86.

PMT stock traded down $0.07 during midday trading on Friday, reaching $20.85. The stock had a trading volume of 240,821 shares, compared to its average volume of 608,964. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $1.42 billion, a P/E ratio of 10.48, a PEG ratio of 2.37 and a beta of 0.60. PennyMac Mortgage Investment Trust has a 52-week low of $17.19 and a 52-week high of $21.42.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Monday, April 15th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.02%. The ex-dividend date is Friday, April 12th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 94.47%.

In related news, CEO David Spector sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $20.61, for a total transaction of $721,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott W. Carnahan sold 5,721 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $20.75, for a total value of $118,710.75. The disclosure for this sale can be found here. 2.46% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of PMT. Norges Bank acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth about $18,005,000. BlackRock Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 6.2% during the 3rd quarter. BlackRock Inc. now owns 10,239,795 shares of the real estate investment trust’s stock worth $207,253,000 after purchasing an additional 593,750 shares during the last quarter. Bessemer Group Inc. increased its position in shares of PennyMac Mortgage Investment Trust by 629.8% during the 4th quarter. Bessemer Group Inc. now owns 594,751 shares of the real estate investment trust’s stock worth $11,074,000 after purchasing an additional 513,251 shares during the last quarter. Algebris UK Ltd acquired a new stake in shares of PennyMac Mortgage Investment Trust during the 4th quarter worth about $5,396,000. Finally, Acadian Asset Management LLC increased its position in shares of PennyMac Mortgage Investment Trust by 26.0% during the 4th quarter. Acadian Asset Management LLC now owns 642,201 shares of the real estate investment trust’s stock worth $11,957,000 after purchasing an additional 132,681 shares during the last quarter. 66.16% of the stock is owned by hedge funds and other institutional investors.

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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