Brokerages expect PennyMac Mortgage Investment Trust (NYSE:PMT) to report quarterly sales of $90.90 million
Brokers expect PennyMac Mortgage Investment Trust (NYSE:PMT) to report sales of $90.90 million for the current fiscal quarter, according to Zacks. Two analysts have made earnings estimates for PennyMac Mortgage Investment Trust, with the lowest sales estimate of $73.00 million and the highest estimate of $108.80 million. PennyMac Mortgage Investment Trust reported sales of $201.40 million in the same quarter last year, which would indicate a negative growth rate of 54.9% year over year. The company is due to release its next quarterly earnings report on Thursday, May 5.
According to Zacks, analysts expect PennyMac Mortgage Investment Trust to report annual sales of $441.00 million for the current fiscal year, with estimates ranging from $439.00 to $443.00 million. For the next fiscal year, analysts expect the company to post sales of $486.45 million, with estimates ranging from $464.90 million to $508.00 million. Zacks sales averages are an average based on a survey of research companies that cover PennyMac Mortgage Investment Trust.
PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly results on Thursday, February 3. The real estate investment trust reported ($0.28) earnings per share for the quarter, missing analyst consensus estimates of $0.49 per ($0.77). PennyMac Mortgage Investment Trust had a net margin of 26.51% and a return on equity of 7.49%. During the same period a year earlier, the company posted EPS of $0.78.
A number of analysts have recently released reports on PMT stocks. Zacks Investment Research upgraded PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a Thursday, Jan. 6, research report. BTIG Research upgraded PennyMac Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a price target of $18.50 for the company in a Friday, January 7 research report. Piper Sandler cut her price target on PennyMac Mortgage Investment Trust from $21.00 to $20.00 and set an “overweight” rating for the company in a Wednesday, Jan. 5 research report. They noted that the move was a review call. Keefe, Bruyette & Woods downgraded PennyMac Mortgage Investment Trust from an “outperforming” rating to a “market performance” rating and lowered their price target for the company from $21.00 to $19.75 in a research report from Tuesday, November 9. Finally, B. Riley reduced his price target on PennyMac Mortgage Investment Trust from $23.00 to $22.00 and set a “buy” rating for the company in a Thursday, Dec. 9 research report. One financial analyst has assigned the stock a sell rating, three have issued a hold rating and five have assigned the stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.09.
Several institutional investors have recently bought and sold shares of PMT. Invesco Ltd. increased its stake in shares of PennyMac Mortgage Investment Trust by 98.7% in the fourth quarter. Invesco Ltd. now owns 2,230,488 shares of the real estate investment trust worth $38,654,000 after purchasing an additional 1,107,783 shares during the period. Goldman Sachs Group Inc. increased its stake in PennyMac Mortgage Investment Trust shares by 26.8% in the second quarter. Goldman Sachs Group Inc. now owns 4,597,697 shares of the real estate investment trust worth $96,828,000 after purchasing an additional 971,638 shares during the period. K2 Principal Fund LP increased its stake in PennyMac Mortgage Investment Trust by 213.2% during the third quarter. K2 Principal Fund LP now owns 1,200,315 shares of the real estate investment trust worth $23,634,000 after acquiring an additional 817,086 shares during the period. Par Capital Management Inc. bought a new position in PennyMac Mortgage Investment Trust during the third quarter, valued at approximately $42,278,000. Finally, Greenwich Investment Management Inc. acquired a new position in PennyMac Mortgage Investment Trust during the fourth quarter, valued at approximately $9,430,000. Institutional investors and hedge funds hold 70.82% of the company’s shares.
Shares of PMT opened at $15.82 on Friday. PennyMac Mortgage Investment Trust has a 1-year minimum of $15.71 and a 1-year maximum of $21.53. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt ratio of 0.72. The company has a market capitalization of $1.53 billion, a price-earnings ratio of 11.98 and a beta of 1.13. The stock’s fifty-day simple moving average is $17.34 and its 200-day simple moving average is $18.63.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 31. Shareholders of record on Friday, December 31 received a dividend of $0.47. The ex-dividend date was Thursday, December 30. This represents a dividend of $1.88 on an annualized basis and a dividend yield of 11.88%. PennyMac Mortgage Investment Trust’s payout ratio is currently 142.43%.
About PennyMac Mortgage Investment Trust
PennyMac Mortgage Investment Trust is a financial company that invests primarily in residential mortgages and mortgage-related assets. It operates through the following segments: Correspondent Production, Credit Sensitive Strategies, Interest Rate Sensitive Strategies and Corporate Activities. The Correspondent Generation segment is engaged in the purchase, pooling and resale of newly issued investment grade mortgages, either directly or in the form of mortgage-backed securities in the mortgage markets. capital.
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