PennyMac Mortgage Investment Trust (NYSE:PMT) to Issue $0.40 Quarterly Dividend

PennyMac Mortgage Investment Trust (NYSE:PMT) announced a quarterly dividend on Tuesday, September 1st. Shareholders of record on Thursday, October 8th will be given a dividend of 0.40 per share by the real estate investment trust on Friday, October 23rd. This represents a c) annualized dividend and a yield of 16.8%. The ex-dividend date of this dividend is Thursday, October 8th.

PennyMac Mortgage Investment Trust has increased its dividend payment by an average of 0.0%per year over the last three years. PennyMac Mortgage Investment Trust has a payout ratio of 101.9% 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 research analysts expect PennyMac Mortgage Investment Trust to earn $1.32 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 121.2%.

PennyMac Mortgage Investment Trust Stock Up 2.9%

Shares of PMT stock opened at $9.51 on Thursday. PennyMac Mortgage Investment Trust has a fifty-two week low of $9.05 and a fifty-two week high of $13.81. The firm has a market capitalization of $828.84 million, a PE ratio of 6.69, a P/E/G ratio of 0.69 and a beta of 1.14. The company has a debt-to-equity ratio of 9.18, a quick ratio of 1.46 and a current ratio of 1.46. The stock’s 50-day simple moving average is $9.85 and its 200-day simple moving average is $10.80.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). PennyMac Mortgage Investment Trust had a return on equity of 12.50% and a net margin of 47.79%.The firm had revenue of ($46.00) million for the quarter, compared to analyst estimates of $93.93 million. Equities analysts expect that PennyMac Mortgage Investment Trust will post 1.03 earnings per share for the current year.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust (NYSE: PMT) is a publicly traded real estate investment trust (REIT) that primarily acquires and manages residential mortgage loans and mortgage-related assets. The company focuses on generating attractive risk-adjusted returns through investment in agency and non-agency residential mortgage pools, credit risk transfer securities, and residential mortgage whole loans. As a mortgage REIT, PennyMac Investment Trust seeks to capture both interest rate spread and potential price appreciation in its portfolio holdings.

Established with external management by PennyMac Financial Services, Inc, the trust leverages the sponsor’s mortgage servicing, underwriting and capital markets expertise.