PennyMac Mortgage Investment Trust (PMT) Issues Earnings Results
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%.
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.
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.
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