PennyMac Mortgage Investment Trust (NYSE:PMT) released its earnings results on Thursday. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02), Briefing.com reports. The firm had revenue of $93.70 million during the quarter, compared to analyst estimates of $80.43 million. PennyMac Mortgage Investment Trust had a return on equity of 6.83% and a net margin of 34.34%. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share.

Shares of PennyMac Mortgage Investment Trust (PMT) opened at $16.73 on Friday. PennyMac Mortgage Investment Trust has a 52-week low of $14.87 and a 52-week high of $18.46. The company has a market capitalization of $1,049.74, a price-to-earnings ratio of 11.30 and a beta of 0.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.78 and a current ratio of 0.78.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, December 29th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 11.24%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 127.03%.

A number of equities research analysts have weighed in on PMT shares. ValuEngine downgraded PennyMac Mortgage Investment Trust from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Zacks Investment Research downgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.50.

PennyMac Mortgage Investment Trust announced that its Board of Directors has approved a share repurchase plan on Wednesday, December 20th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations, and makes all of its investments, through PennyMac Operating Partnership, L.P. (its Operating Partnership) and its subsidiaries.

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

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