PennyMac Mortgage Investment Trust (NYSE:PMT) Expected to Earn Q2 2022 Earnings of $0.40 Per Share

PennyMac Mortgage Investment Trust (NYSE:PMT – Get Rating) – Analysts at B. Riley decreased their Q2 2022 earnings per share (EPS) estimates for shares of PennyMac Mortgage Investment Trust in a research report issued on Friday, July 1st. B. Riley analyst M. Howlett now anticipates that the real estate investment trust will post earnings per share of $0.40 for the quarter, down from their prior estimate of $0.52. B. Riley currently has a “Buy” rating and a $18.00 target price on the stock. The consensus estimate for PennyMac Mortgage Investment Trust’s current full-year earnings is $1.93 per share. B. Riley also issued estimates for PennyMac Mortgage Investment Trust’s Q3 2022 earnings at $0.43 EPS, Q4 2022 earnings at $0.47 EPS, Q2 2023 earnings at $0.51 EPS and Q3 2023 earnings at $0.54 EPS.

A number of other research analysts have also recently commented on the company. StockNews.com cut PennyMac Mortgage Investment Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. Jonestrading lowered their target price on PennyMac Mortgage Investment Trust from $18.50 to $18.00 in a research note on Friday, May 6th. Credit Suisse Group lowered their target price on PennyMac Mortgage Investment Trust to $17.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. TheStreet cut PennyMac Mortgage Investment Trust from a “c-” rating to a “d” rating in a research note on Friday, May 6th. Finally, Piper Sandler lowered their target price on PennyMac Mortgage Investment Trust from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.03.

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PMT opened at $14.34 on Monday. The stock has a market cap of $1.40 billion, a PE ratio of -19.64 and a beta of 1.14. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.38. The business has a 50 day moving average of $15.04 and a 200-day moving average of $16.11. PennyMac Mortgage Investment Trust has a 52 week low of $11.64 and a 52 week high of $21.11.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 28th. Shareholders of record on Thursday, July 14th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 13.11%. The ex-dividend date is Wednesday, July 13th. PennyMac Mortgage Investment Trust’s dividend payout ratio (DPR) is -257.53%.

Institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted its holdings in PennyMac Mortgage Investment Trust by 1,116.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,650 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 3,350 shares in the last quarter. Selective Wealth Management Inc. bought a new position in shares of PennyMac Mortgage Investment Trust during the first quarter valued at $62,000. Samalin Investment Counsel LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 119.9% ​​during the first quarter. Samalin Investment Counsel LLC now owns 5,198 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 2,834 shares in the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of PennyMac Mortgage Investment Trust by 181.1% during the first quarter. Catalyst Capital Advisors LLC now owns 5,340 shares of the real estate investment trust’s stock valued at $90,000 after purchasing an additional 3,440 shares in the last quarter. Finally, Capital Square LLC bought a new position in shares of PennyMac Mortgage Investment Trust during the fourth quarter valued at $189,000. 70.77% of the stock is currently owned by institutional investors and hedge funds.

About PennyMac Mortgage Investment Trust (GetRated)

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company’s Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

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

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