PennyMac Mortgage Investment Trust Forecasted to Post Q1 2023 Earnings of $0.40 Per Share (NYSE:PMT)

PennyMac Mortgage Investment Trust (NYSE:PMTGet Rating) – Stock analysts at B. Riley decreased their Q1 2023 earnings per share (EPS) estimates for shares of PennyMac Mortgage Investment Trust in a note issued to investors on Monday, November 21st. B. Riley analyst M. Howlett now anticipates that the real estate investment trust will post earnings of $0.40 per share for the quarter, down from their prior forecast of $0.44. The consensus estimate for PennyMac Mortgage Investment Trust’s current full-year earnings is ($0.82) per share. B. Riley also issued estimates for PennyMac Mortgage Investment Trust’s Q2 2023 earnings at $0.40 EPS, Q3 2023 earnings at $0.40 EPS, Q4 2023 earnings at $0.40 EPS and FY2023 earnings at $1.60 EPS.

Other analysts also recently issued research reports about the company. Piper Sandler decreased their target price on PennyMac Mortgage Investment Trust from $18.00 to $15.50 and set an “overweight” rating on the stock in a research note on Friday, September 30th. JMP Securities decreased their target price on PennyMac Mortgage Investment Trust from $16.00 to $15.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 20th. StockNews.com initiated coverage on PennyMac Mortgage Investment Trust in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. Finally, Credit Suisse Group reduced their price objective on PennyMac Mortgage Investment Trust to $15.00 in a research note on Thursday, October 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.57.

PennyMac Mortgage Investment Trust Stock Up 1.0 %

Shares of PMT opened at $15.35 on Tuesday. The business’s 50 day moving average is $13.34 and its 200 day moving average is $14.32. The company has a market capitalization of $1.37 billion, a PE ratio of -10.44 and a beta of 1.28. PennyMac Mortgage Investment Trust has a 12-month low of $10.78 and a 12-month high of $18.72. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.35.

Hedge Funds Weigh In On PennyMac Mortgage Investment Trust

Large investors have recently bought and sold shares of the business. CWM LLC boosted its holdings in PennyMac Mortgage Investment Trust by 78.6% during the 2nd quarter. CWM LLC now owns 1,918 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 844 shares during the period. Federated Hermes Inc. purchased a new position in PennyMac Mortgage Investment Trust during the 2nd quarter valued at $33,000. Rockefeller Capital Management L.P. boosted its holdings in PennyMac Mortgage Investment Trust by 30.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,346 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 783 shares during the period. Catalyst Capital Advisors LLC boosted its holdings in PennyMac Mortgage Investment Trust by 19.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 5,290 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 850 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in PennyMac Mortgage Investment Trust by 32.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 4,850 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 1,200 shares during the period. Hedge funds and other institutional investors own 69.07% of the company’s stock.

Insider Transactions at PennyMac Mortgage Investment Trust

In related news, CEO David Spector bought 20,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was purchased at an average price of $13.71 per share, for a total transaction of $274,200.00. Following the acquisition, the chief executive officer now owns 232,574 shares in the company, valued at $3,188,589.54. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.78% of the company’s stock.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, October 14th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.25%. The ex-dividend date of this dividend was Thursday, October 13th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is -127.89%.

PennyMac Mortgage Investment Trust Company Profile

(Get Rating)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

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

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