Wall Street brokerages expect PennyMac Mortgage Investment Trust (NYSE:PMT) to post $0.42 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for PennyMac Mortgage Investment Trust’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.43. PennyMac Mortgage Investment Trust posted earnings per share of $0.35 in the same quarter last year, which would indicate a positive year-over-year growth rate of 20%. The company is scheduled to announce its next earnings results on Thursday, May 2nd.

On average, analysts expect that PennyMac Mortgage Investment Trust will report full-year earnings of $1.80 per share for the current financial year, with EPS estimates ranging from $1.73 to $1.93. For the next fiscal year, analysts anticipate that the company will post earnings of $1.94 per share, with EPS estimates ranging from $1.88 to $2.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $83.90 million for the quarter, compared to analyst estimates of $138.40 million. PennyMac Mortgage Investment Trust had a net margin of 43.52% and a return on equity of 12.19%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share.

A number of analysts have recently issued reports on PMT shares. Nomura started coverage on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, March 27th. They set a “buy” rating and a $23.00 price objective on the stock. Zacks Investment Research upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Friday, January 18th. ValuEngine upgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $22.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Tuesday, February 12th. Finally, Barclays set a $21.00 price objective on shares of PennyMac Mortgage Investment Trust and gave the company a “hold” rating in a research note on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. PennyMac Mortgage Investment Trust presently has an average rating of “Buy” and an average target price of $21.86.

In related news, Director Scott W. Carnahan sold 5,721 shares of PennyMac Mortgage Investment Trust stock in a transaction on Friday, March 15th. The shares were sold at an average price of $20.75, for a total value of $118,710.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Spector sold 35,000 shares of PennyMac Mortgage Investment Trust stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $20.61, for a total transaction of $721,350.00. The disclosure for this sale can be found here. 2.46% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY increased its stake in shares of PennyMac Mortgage Investment Trust by 332.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 20,097 shares of the real estate investment trust’s stock worth $374,000 after buying an additional 15,452 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of PennyMac Mortgage Investment Trust by 72.5% during the third quarter. LPL Financial LLC now owns 30,146 shares of the real estate investment trust’s stock valued at $610,000 after acquiring an additional 12,671 shares during the period. Vanguard Group Inc. boosted its holdings in shares of PennyMac Mortgage Investment Trust by 1.7% during the third quarter. Vanguard Group Inc. now owns 5,762,227 shares of the real estate investment trust’s stock valued at $116,628,000 after acquiring an additional 95,374 shares during the period. Texas Permanent School Fund raised its stake in shares of PennyMac Mortgage Investment Trust by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 39,886 shares of the real estate investment trust’s stock valued at $743,000 after purchasing an additional 1,535 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of PennyMac Mortgage Investment Trust by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 43,587 shares of the real estate investment trust’s stock valued at $812,000 after purchasing an additional 958 shares in the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

Shares of PMT traded down $0.06 during mid-day trading on Wednesday, reaching $20.79. 428,942 shares of the stock traded hands, compared to its average volume of 601,205. The firm has a market capitalization of $1.42 billion, a P/E ratio of 10.45, a P/E/G ratio of 2.31 and a beta of 0.60. PennyMac Mortgage Investment Trust has a 12-month low of $17.29 and a 12-month high of $21.42. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.56.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Monday, April 15th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 9.04%. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is presently 94.47%.

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).

Featured Story: How to Trade Using Analysts Ratings

Get a free copy of the Zacks research report on PennyMac Mortgage Investment Trust (PMT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for PennyMac Mortgage Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Mortgage Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.