$90.90 million in sales expected for PennyMac Mortgage Investment Trust (NYSE:PMT) this quarter
Wall Street analysts expect PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) to report sales of $90.90 million for the current fiscal quarter, reports Zacks Investment Research. Two analysts provided earnings estimates for PennyMac Mortgage Investment Trust. The lowest sales estimate is $73.00 million and the highest is $108.80 million. PennyMac Mortgage Investment Trust reported sales of $201.40 million in the same quarter last year, suggesting a negative 54.9% year-over-year growth rate. The company is due to release its next earnings report on Thursday, May 5.
On average, analysts expect PennyMac Mortgage Investment Trust to record 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 record sales of $486.45 million, with estimates ranging from $464.90 million to $508.00 million. Zacks Investment Research sales averages are an average average based on a survey of sell-side research firms that provide coverage for PennyMac Mortgage Investment Trust.
PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) released its quarterly results for the last time on Thursday, February 3. The real estate investment trust reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.49 per ($0.77). PennyMac Mortgage Investment Trust posted a return on equity of 2.89% and a net margin of 13.53%. In the same quarter of the previous year, the company achieved EPS of $0.78.
Several research analysts have recently weighed in on PMT stocks. B. Riley lowered his price target on PennyMac Mortgage Investment Trust shares from $23.00 to $22.00 and set a “buy” rating on the stock in a Thursday, Dec. 9 research note . Jonestrading began covering PennyMac Mortgage Investment Trust shares in a research note on Friday, January 7. They issued a “buy” rating and a price target of $20.50 on the stock. Piper Sandler cut her price target on shares of PennyMac Mortgage Investment Trust from $21.00 to $20.00 and set an “overweight” rating on the stock in a Wednesday, Jan. 5 research note. They noted that the move was a review call. Barclays reduced its price target on shares of PennyMac Mortgage Investment Trust from $19.00 to $18.00 in a Monday, January 10 research note. Finally, Zacks Investment Research downgraded shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “strong sell” rating in a Thursday, Jan. 6, research note. 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.com, the company currently has an average rating of “Hold” and a consensus target price of $20.09.
Separately, director Marianne Sullivan purchased 15,650 shares of the company in a transaction dated Thursday, February 24. The stock was purchased at an average price of $15.02 per share, with a total value of $235,063.00. The acquisition was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, director Scott W. Carnahan sold 1,785 shares of the company in a transaction that took place on Tuesday, February 22. The stock was sold at an average price of $15.71, for a total transaction of $28,042.35. The disclosure of this sale can be found here. Insiders own 0.84% of the shares of the company.
Several institutional investors have recently changed their PMT portfolio. IFP Advisors Inc increased its stake in PennyMac Mortgage Investment Trust by 1,662.6% in the 3rd quarter. IFP Advisors Inc now owns 2,027 shares of the real estate investment trust worth $40,000 after buying an additional 1,912 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in PennyMac Mortgage Investment Trust by 1,116.7% in Q4. Steward Partners Investment Advisory LLC now owns 3,650 shares of the real estate investment trust worth $63,000 after buying 3,350 additional shares in the last quarter. Penserra Capital Management LLC acquired a new position in PennyMac Mortgage Investment Trust in Q3, valued at approximately $84,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in PennyMac Mortgage Investment Trust in Q3, valued at approximately $191,000. Finally, Paloma Partners Management Co acquired a new position in PennyMac Mortgage Investment Trust in Q2 valued at approximately $223,000. 70.84% of the shares are held by institutional investors.
Shares of PennyMac Mortgage Investment Trust opened at $16.29 on Friday. The company has a market capitalization of $1.59 billion, a PE ratio of 62.66 and a beta of 1.12. The company’s 50-day moving average is $16.80 and its 200-day moving average is $18.30. PennyMac Mortgage Investment Trust has a fifty-two week low of $14.73 and a fifty-two week high of $21.53. The company has a debt ratio of 1.11, a current ratio of 0.65 and a quick ratio of 0.63.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 28. Shareholders of record on Friday, April 15 will receive a dividend of $0.47. This represents a dividend of $1.88 on an annualized basis and a yield of 11.54%. The ex-dividend date is Wednesday, April 13. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 723.10%.
About PennyMac Mortgage Investment Trust (Get an assessment)
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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