PennyMac Mortgage Investment Trust (NYSE:PMT) Announces $0.40 Quarterly Dividend

PennyMac Mortgage Investment Trust (NYSE:PMT) announced a quarterly dividend on Wednesday, June 17th. Shareholders of record on Thursday, July 9th will be paid a dividend of 0.40 per share by the real estate investment trust on Friday, July 24th. This represents a c) annualized dividend and a dividend yield of 15.8%. The ex-dividend date of this dividend is Thursday, July 9th.

PennyMac Mortgage Investment Trust has raised its dividend payment by an average of 0.0%annually over the last three years. PennyMac Mortgage Investment Trust has a payout ratio of 101.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect PennyMac Mortgage Investment Trust to earn $1.46 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 109.6%.

PennyMac Mortgage Investment Trust Stock Down 0.8%

Shares of NYSE PMT opened at $10.11 on Thursday. PennyMac Mortgage Investment Trust has a 12-month low of $9.83 and a 12-month high of $13.81. The company has a market capitalization of $881.33 million, a PE ratio of 8.79, a price-to-earnings-growth ratio of 0.63 and a beta of 1.15. The company has a debt-to-equity ratio of 7.99, a current ratio of 1.39 and a quick ratio of 1.39. The firm’s 50-day moving average is $10.99 and its two-hundred day moving average is $11.94.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.20). The firm had revenue of $233.25 million during the quarter, compared to analyst estimates of $92.92 million. PennyMac Mortgage Investment Trust had a net margin of 41.38% and a return on equity of 10.71%. Equities analysts anticipate that PennyMac Mortgage Investment Trust will post 1.21 EPS for the current fiscal year.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.