PennyMac Mortgage Investment Trust (PMT) Expected to Post Quarterly Sales of $78.05 Million
Analysts expect that PennyMac Mortgage Investment Trust (NYSE:PMT) will report $78.05 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for PennyMac Mortgage Investment Trust’s earnings. The lowest sales estimate is $74.90 million and the highest is $81.20 million. PennyMac Mortgage Investment Trust reported sales of $75.80 million during the same quarter last year, which indicates a positive year over year growth rate of 3%. The company is expected to issue its next quarterly earnings report on Thursday, November 1st.
On average, analysts expect that PennyMac Mortgage Investment Trust will report full-year sales of $302.55 million for the current fiscal year, with estimates ranging from $295.70 million to $309.40 million. For the next year, analysts anticipate that the company will report sales of $315.60 million per share, with estimates ranging from $307.10 million to $324.10 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for PennyMac Mortgage Investment Trust.
PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.10. PennyMac Mortgage Investment Trust had a return on equity of 8.37% and a net margin of 36.14%. The firm had revenue of $82.99 million during the quarter, compared to the consensus estimate of $70.85 million. During the same quarter in the previous year, the business earned $0.38 earnings per share.
PMT stock traded up $0.03 during trading on Wednesday, reaching $20.26. 283,100 shares of the stock traded hands, compared to its average volume of 607,641. PennyMac Mortgage Investment Trust has a 52-week low of $14.87 and a 52-week high of $20.41. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.50. The company has a market cap of $1.23 billion, a PE ratio of 15.59 and a beta of 0.41.
In related news, Director Marianne Sullivan bought 3,015 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was bought at an average price of $19.95 per share, with a total value of $60,149.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Spector sold 7,000 shares of the company’s stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $18.62, for a total value of $130,340.00. The disclosure for this sale can be found here. Insiders sold 31,790 shares of company stock valued at $605,990 in the last ninety days. Company insiders own 2.46% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PMT. GSA Capital Partners LLP purchased a new stake in shares of PennyMac Mortgage Investment Trust in the first quarter worth about $192,000. Element Capital Management LLC purchased a new position in PennyMac Mortgage Investment Trust in the first quarter valued at about $200,000. Profund Advisors LLC purchased a new position in PennyMac Mortgage Investment Trust in the first quarter valued at about $201,000. Fox Run Management L.L.C. purchased a new position in PennyMac Mortgage Investment Trust in the second quarter valued at about $208,000. Finally, Centaurus Financial Inc. purchased a new position in PennyMac Mortgage Investment Trust in the second quarter valued at about $220,000. 67.35% of the stock is owned by institutional investors.
About PennyMac Mortgage Investment Trust
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).
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