PennyMac Mortgage Investment

PennyMac Mortgage Investment Trust is a finance company, which invests primarily in residential mortgage loans and mortgage-related assets. It operates through following segments: Correspondent Production, Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Corporate Activities. The Correspondent Production segment deals with purchasing, pooling, and reselling newly originated prime credit quality mortgage loans either directly or in the form of mortgage-backed securities in capital markets. The Credit Sensitive Strategies segment includes investments in distressed mortgage loans, real estate acquired in settlement of mortgage loans, real estate held for investment, credit risk transfer agreements, non-agency subordinated bonds, and small balance commercial real estate mortgage loans. The Interest Rate Sensitive Strategies segment focuses on investments in mortgage servicing rights, excess servicing spread, agency and senior non-agency mortgage-backed securities, and the related interest rate hedging activities. The Corporate segment includes management fee and corporate expense amounts and certain interest income. The company was founded by Stanford L. Kurland on May 18, 2009 and is headquartered in Westlake Village, CA.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

PennyMac Mortgage Investment faces challenges but eyes growth opportunities

PMT navigated challenges in Q4 2022 with a focus on strong risk management and strategic investments. Despite a net loss, the company's robust servicing capabilities and investment strategies position it for growth. Opportunities in market trends and portfolio performance offer avenues for future success.

PennyMac Mortgage Investment reports strong Q1 earnings and growth outlook

PMT's Q1 2023 performance showcased robust earnings and strategic investments. While facing challenges in interest rate-sensitive strategies, the company capitalized on market opportunities and maintained a positive outlook for the year. With a focus on capital deployment and share repurchases, PMT aims to leverage its strengths in correspondent production and MSR investments.

PennyMac Mortgage Investment Trust navigates challenges, emphasizes strategic diversification

PMT's Q2 2023 earnings call revealed a strategic shift towards increased transparency with its first live Q&A session. Despite challenges from pricing changes and declining production, PMT showcased strengths in credit-sensitive strategies and a balanced portfolio approach. The company is poised to capitalize on opportunities in new investments and portfolio expansion.

PennyMac Mortgage Investment (PMT) reports robust Q3 performance and strategic resilience

PennyMac Mortgage Investment (PMT) excelled in Q3, reporting strong financial results and demonstrating resilience in a challenging market environment.
With a focus on strategic investments and operational efficiency, PMT is well-positioned to navigate market uncertainties and capitalize on growth opportunities.
By proactively addressing challenges and leveraging its strengths, PMT is poised for continued success and value creation for its shareholders.

PMT reports strong Q4 earnings, eyes growth through strategic investments

PMT delivered robust financial results in Q4 2023, driven by strategic investments and shareholder-friendly initiatives. With a focus on stable cash flows from MSRs and proactive portfolio management, PMT is poised for sustained growth. Despite potential challenges, PMT's strong performance and prudent risk management position it well for future opportunities.

PMT reports solid Q1 earnings, eyes growth amid interest rate challenges

PMT delivered a strong Q1 performance with solid earnings and a stable portfolio. While facing challenges from interest rate trends and production segment dynamics, the company remains optimistic about future opportunities. Strategic capital actions and positive outlook on MSR investments position PMT for continued growth.

PennyMac Mortgage Investment reports stable Q2 earnings and growth opportunities

PMT's Q2 performance reflects steady income generation and strategic capital raising. The company's focus on MSR investments and correspondent production positions it well for stable cash flows and potential growth. While facing challenges in run rate potential and debt repayment, PMT has opportunities to leverage its strengths for future profitability.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) (the “Company”) today announced that it has priced an underwritten public offering of $50,000,000 aggregate principal amount of its 8.50% Senior Notes due 2028 (the “Notes”). The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by PennyMac Corp., an indirect wholly-owned subsidiary of the Company. The Notes will be issued in minimum denominations and integral multiples of $25.

PennyMac Mortgage Investment Trust Announces Pricing of Public Offering of Senior Notes

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) (the “Company”) today announced that it is commencing an underwritten public offering of senior notes due 2028 (the “Notes”). The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by PennyMac Corp., an indirect wholly-owned subsidiary of the Company. The Company intends to use the net proceeds from the offering to fund its business and investment activities, which may include:.

PennyMac Mortgage Investment Trust Announces Public Offering of Senior Notes

PennyMac Financial Services

Investors in PennyMac's fixed-to-floating-rate preferred shares probably didn't expect the REIT to adhere strictly to the contract when Libor ceased to exist.

Investors in This REIT Got a ‘Nasty' Surpise. Why It Pays to Read the Fine Print.

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that it will present jointly with PennyMac Financial Services, Inc. (NYSE: PFSI) at the 2023 Barclays Global Financial Services Conference. Chairman and Chief Executive Officer David Spector and Senior Managing Director and Chief Financial Officer Daniel Perotti will participate in a fireside chat at 2:45 p.m. Eastern Time on Monday, September 11, 2023. A link to the live audio webcast will.

PennyMac Mortgage Investment Trust to Present at the 2023 Barclays Global Financial Services Conference

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Financial Services, Inc. (NYSE: PFSI) announced today that it will present jointly with PennyMac Mortgage Investment Trust (NYSE: PMT) at the 2023 Barclays Global Financial Services Conference. Chairman and Chief Executive Officer David Spector and Senior Managing Director and Chief Financial Officer Daniel Perotti will participate in a fireside chat at 2:45 p.m. Eastern Time on Monday, September 11, 2023. A link to the live audio webcast will.

PennyMac Financial Services, Inc. to Present at the 2023 Barclays Global Financial Services Conference

AGNC Investment

AGNC Investment Corp. Deposit Shs Repr 1/1000th Cum Conv Red Pfd Registered Shs Series C

Dynex Capital

Invesco Mortgage Capital

Annaly Capital

Ready Capital Corp

PennyMac Mortgage Trust caused confusion with their announcement on fixed-to-floating shares, requiring re-examination of these shares. Some REITs have stated they will use 3-month Term SOFR + 26.161 basis points as a substitute for 3-month LIBOR. AGNC has a higher dividend yield and consensus earnings yield compared to DX, but I strongly doubt this will lead to superior returns.

Wild Times For Mortgage REITs

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees declared a cash dividend of $0.40 per common share of beneficial interest for the third quarter of 2023. This dividend will be paid on October 27, 2023, to common shareholders of record as of October 13, 2023. About PennyMac Mortgage Investment Trust PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in resi.

PennyMac Mortgage Investment Trust Declares Third Quarter 2023 Dividend for Its Common Shares

PennyMac Mortgage has announced that its preferred securities will not transition to a floating rate and will remain pegged to existing fixed rates. The decision has sparked debate over the legality and interpretation of the LIBOR Act and prospectus language. In our view, while unfortunate, there is nothing plainly illegal about this.

PennyMac: And Now For Something Different For Preferred Holders

PennyMac Mortgage Investment Trust announced plans to use fixed-rate dividends instead of floating rates for its preferred shares. The announcement comes after a significant increase in interest rates. I doubt PennyMac's current plan will go through as stated. It might, but I think there is a strong case against it.

How PennyMac Is Hurting Their Preferred Shareholders

PennyMac Mortgage Investment Trust announces that two of its preferred shares will not transition to a floating reference rate, impacting their dividend rates. The cost savings from this move are expected to be relatively small, and the company may face lawsuits as a result. The move is likely to damage investor goodwill and may affect future market demand for the company's securities.

PennyMac: Pound Foolish

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees has declared cash dividends for the third quarter of 2023 on its 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (NYSE: PMT PrA), its 8.000% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (NYSE: PMT PrB) and its 6.750% Series C Cumulative Redeemable Preferred Shares.

PennyMac Mortgage Investment Trust Declares Third Quarter 2023 Dividends for Its Preferred Shares

PennyMac didn't earn enough in Q2 to cover its dividend. Investors should exercise caution if they're thinking of buying the shares.

Here's How PennyMac Mortgage Trust Can Afford Its 12% Dividend Yield

PennyMac Mortgage Investment Trust (NYSE:PMT ) Q2 2023 Earnings Conference Call July 27, 2023 5:45 PM ET Company Participants David Spector – Chairman and Chief Executive Officer Dan Perotti – Senior Managing Director & Chief Financial Officer Conference Call Participants Kevin Barker – Piper Jaffray Bose George – KBW Matthew Howlett – B. Riley Securities Doug Harter – Credit Suisse Eric Hagen – BTIG Operator Good afternoon, and welcome to the Second Quarter Discussion for PennyMac Mortgage Investment Trust.

PennyMac Mortgage Investment Trust (PMT) Q2 2023 Earnings Call Transcript

While the top- and bottom-line numbers for PennyMac Mortgage (PMT) give a sense of how the business performed in the quarter ended June 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Compared to Estimates, PennyMac Mortgage (PMT) Q2 Earnings: A Look at Key Metrics

PennyMac Mortgage (PMT) came out with quarterly earnings of $0.16 per share, missing the Zacks Consensus Estimate of $0.39 per share. This compares to loss of $0.88 per share a year ago.

PennyMac Mortgage (PMT) Lags Q2 Earnings and Revenue Estimates

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) today reported net income attributable to common shareholders of $14.2 million, or $0.16 per common share on a diluted basis for the second quarter of 2023, on net investment income of $90.5 million. PMT previously announced a cash dividend for the second quarter of 2023 of $0.40 per common share of beneficial interest, which was declared on June 9, 2023, and will be paid on July 28, 2023, to common shareh.

PennyMac Mortgage Investment Trust Reports Second Quarter 2023 Results

Several REIT preferred issues have converted from fixed to floating interest rates, paying dividends at 3-month LIBOR plus 350 to 600 basis points. The share price performance of these issues upon conversion may provide insight into future investment strategies. The next issue up for call or conversion is PennyMac Mortgage Investment Trust, which currently offers an attractive dividend yield of 8.61%.

PennyMac Mortgage Investment Trust Pfd. Series A: The Next To Float

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) will announce results for the quarter ended June 30, 2023, in a news release to be issued after the market close on Thursday, July 27, 2023. The release will be available online at pmt.pennymac.com. The Company's executives will review the results in a recorded presentation. The recording and accompanying materials will be available on the Company's website concurrently with the news release. Additionally,.

PennyMac Mortgage Investment Trust Announces Date for Release of Second Quarter 2023 Results

AGNC Investment Corp - FXDFR PRF PERPETUAL USD 25 - Ser D 1/1000th int

Rithm Capital Corp

Variable rate securities should be agnostic to interest rates. Yet the floating rate preferreds crashed on a strong jobs report. The mispricing is exacerbated representing even greater opportunity.

Preferred Dislocation Accelerates On Jobs Report

Annaly originates primarily business purpose loans. PennyMac originates primarily government-guaranteed loans.

Better Buy: Annaly Capital or PennyMac Mortgage Trust?

PennyMac is paying out a 12% dividend yield to common shareholders. The mREIT's payout ratio currently stands at 80% with the commons swapping hands at a 16.7% discount to their fiscal 2023 first-quarter book value. Prospective shar

PennyMac Mortgage: The 12% Yield Comes With A 17% Discount To Book

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees declared a cash dividend of $0.40 per common share of beneficial interest for the second quarter of 2023. This dividend will be paid on July 28, 2023, to common shareholders of record as of July 14, 2023. About PennyMac Mortgage Investment Trust PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residenti.

PennyMac Mortgage Investment Trust Declares Second Quarter 2023 Dividend for Its Common Shares

Arlington Asset Investment

Ellington Financial

Big yields and even bigger discounts on each share here. A buyout drove one of our positions up about 40% in a day. The REITs we're highlighting here don't unusually trade at such large discounts to book value.

12% Or Higher Dividend Yields With 15% To 32% Discounts

The book value per share showed a marginal increase to $15.96, which is a slight improvement from last quarter's $15.78 but still lower than the third quarter results of 2022. The management expects mortgage origination volumes to be significantly higher in the remaining quarters of 2023 compared to the first quarter.

PennyMac Mortgage Investment Trust: Recovery Is On The Way

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees has declared cash dividends for the second quarter of 2023 on its 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (NYSE: PMT PrA), its 8.000% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (NYSE: PMT PrB) and its 6.750% Series C Cumulative Redeemable Preferred Share.

News for PennyMac Mortgage Investment Stock (PMT)