PennyMac Mortgage Investment Trust (PMT) To Go Ex-Dividend on December 27th

PennyMac Mortgage Investment Trust (NYSE:PMT) announced a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Investors of record on Friday, December 27th will be given a dividend of 0.40 per share by the real estate investment trust on Friday, January 24th. This represents a $1.60 annualized dividend and a yield of 11.81%. The ex-dividend date is Friday, December 27th.

PennyMac Mortgage Investment Trust has increased its dividend payment by an average of 21.8% annually over the last three years. PennyMac Mortgage Investment Trust has a dividend payout ratio of 103.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect PennyMac Mortgage Investment Trust to earn $1.56 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 102.6%.

PennyMac Mortgage Investment Trust Stock Up 0.9 %

NYSE:PMT opened at $13.55 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56. The stock has a 50 day moving average of $13.60 and a 200-day moving average of $13.80. The firm has a market capitalization of $1.18 billion, a PE ratio of 9.96 and a beta of 1.50. PennyMac Mortgage Investment Trust has a 52 week low of $12.81 and a 52 week high of $15.89.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a return on equity of 11.90% and a net margin of 53.81%. The company had revenue of $80.86 million during the quarter, compared to analyst estimates of $93.75 million. During the same period in the prior year, the business earned $0.51 earnings per share. Analysts predict that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wedbush reissued a “neutral” rating and set a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, PennyMac Mortgage Investment Trust presently has a consensus rating of “Moderate Buy” and an average target price of $15.17.

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.