$465.70 Million in Sales Expected for PennyMac Mortgage Investment Trust (NYSE:PMT) This Quarter

Brokerages predict that PennyMac Mortgage Investment Trust (NYSE:PMT) will post sales of $465.70 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for PennyMac Mortgage Investment Trust’s earnings, with the highest sales estimate coming in at $730.00 million and the lowest estimate coming in at $201.40 million. PennyMac Mortgage Investment Trust reported sales of $96.40 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 383.1%. The company is expected to issue its next earnings results on Thursday, August 6th.

On average, analysts expect that PennyMac Mortgage Investment Trust will report full-year sales of $310.00 million for the current year, with estimates ranging from $58.00 million to $562.00 million. For the next financial year, analysts anticipate that the business will report sales of $589.85 million, with estimates ranging from $582.00 million to $597.70 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 released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($5.99) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.81) by ($3.18). PennyMac Mortgage Investment Trust had a negative return on equity of 23.31% and a net margin of 46.31%. The business had revenue of ($506.52) million during the quarter, compared to the consensus estimate of $133.30 million.

PMT has been the subject of a number of analyst reports. Piper Sandler increased their price objective on shares of PennyMac Mortgage Investment Trust from $15.00 to $22.00 in a research note on Wednesday, June 10th. CSFB increased their price objective on shares of PennyMac Mortgage Investment Trust from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Zacks Investment Research raised shares of PennyMac Mortgage Investment Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 16th. ValuEngine raised shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Thursday, April 30th. Finally, Bank of America cut shares of PennyMac Mortgage Investment Trust from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 28th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $20.19.

A number of hedge funds have recently added to or reduced their stakes in the business. Public Sector Pension Investment Board lifted its position in PennyMac Mortgage Investment Trust by 0.4% during the fourth quarter. Public Sector Pension Investment Board now owns 223,830 shares of the real estate investment trust’s stock valued at $4,989,000 after purchasing an additional 900 shares during the last quarter. Sunbelt Securities Inc. bought a new position in PennyMac Mortgage Investment Trust during the fourth quarter valued at $6,355,000. Ahrens Investment Partners LLC lifted its position in PennyMac Mortgage Investment Trust by 14.5% during the fourth quarter. Ahrens Investment Partners LLC now owns 11,455 shares of the real estate investment trust’s stock valued at $255,000 after purchasing an additional 1,450 shares during the last quarter. RDA Financial Network lifted its position in PennyMac Mortgage Investment Trust by 6.7% during the first quarter. RDA Financial Network now owns 25,565 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 1,615 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new position in PennyMac Mortgage Investment Trust during the fourth quarter valued at $39,000. Institutional investors and hedge funds own 72.77% of the company’s stock.

Shares of NYSE PMT traded up $0.17 during midday trading on Friday, reaching $17.56. The stock had a trading volume of 423,112 shares, compared to its average volume of 1,545,345. The stock has a 50-day moving average of $15.51 and a 200-day moving average of $16.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -4.09 and a beta of 1.20. PennyMac Mortgage Investment Trust has a 12-month low of $3.50 and a 12-month high of $23.79.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Wednesday, July 15th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 9.11%. This is a boost from PennyMac Mortgage Investment Trust’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, July 14th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 41.32%.

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).

See Also: Accumulation/Distribution

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

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