Q3 2024 Earnings Estimate for PennyMac Mortgage Investment Trust Issued By Wedbush (NYSE:PMT)

PennyMac Mortgage Investment Trust (NYSE:PMT) – Analysts at Wedbush dropped their Q3 2024 EPS estimates for PennyMac Mortgage Investment Trust in a report released on Thursday, July 25th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings of $0.33 per share for the quarter, down from their previous estimate of $0.34. Wedbush has a “Neutral” rating and a $15.00 price target on the stock. The consensus estimate for PennyMac Mortgage Investment Trust’s current full-year earnings is $1.33 per share. Wedbush also issued estimates for PennyMac Mortgage Investment Trust’s Q4 2024 earnings at $0.34 EPS and FY2024 earnings at $1.23 EPS.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.17). PennyMac Mortgage Investment Trust had a return on equity of 13.29% and a net margin of 47.60%. The firm had revenue of $71.20 million for the quarter, compared to analysts’ expectations of $90.26 million. During the same quarter last year, the firm posted $0.16 earnings per share.

A number of other research firms also recently weighed in on PMT. Piper Sandler reduced their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. B. Riley reissued a “buy” rating and set a $16.00 target price on shares of PennyMac Mortgage Investment Trust in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods reduced their target price on shares of PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Finally, JMP Securities increased their target price on shares of PennyMac Mortgage Investment Trust from $15.00 to $15.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.93.

PennyMac Mortgage Investment Trust Stock Up 0.6 %

PennyMac Mortgage Investment Trust stock opened at $13.73 on Monday. PennyMac Mortgage Investment Trust has a fifty-two week low of $10.52 and a fifty-two week high of $15.89. The stock has a market cap of $1.19 billion, a PE ratio of 9.15 and a beta of 1.51. The firm’s 50-day simple moving average is $13.87 and its 200 day simple moving average is $14.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.34 and a current ratio of 0.33.

Institutional Trading of PennyMac Mortgage Investment Trust

Institutional investors have recently modified their holdings of the business. Roble Belko & Company Inc purchased a new stake in shares of PennyMac Mortgage Investment Trust during the 1st quarter valued at approximately $29,000. National Bank of Canada FI lifted its stake in shares of PennyMac Mortgage Investment Trust by 94.9% during the 4th quarter. National Bank of Canada FI now owns 3,292 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 1,603 shares in the last quarter. EntryPoint Capital LLC lifted its stake in shares of PennyMac Mortgage Investment Trust by 251.8% during the 1st quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 5,015 shares in the last quarter. Essex Financial Services Inc. purchased a new stake in PennyMac Mortgage Investment Trust in the 4th quarter worth approximately $150,000. Finally, Entropy Technologies LP purchased a new stake in PennyMac Mortgage Investment Trust in the 1st quarter worth approximately $149,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Mortgage Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.66%. The ex-dividend date of this dividend was Friday, July 12th. PennyMac Mortgage Investment Trust’s payout ratio is currently 106.67%.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.