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

PennyMac Mortgage Investment Trust uses an unusual strategy. As long as the economy remains strong, PennyMac's dividend looks safe.

PennyMac Mortgage Outperforms Its Peers With an Increase in Book Value Per Share

PennyMac Mortgage (PMT) came out with quarterly earnings of $0.50 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to loss of $0.32 per share a year ago.

PennyMac Mortgage (PMT) Beats Q1 Earnings Estimates

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) today reported net income attributable to common shareholders of $50.2 million, or $0.50 per common share on a diluted basis for the first quarter of 2023, on net investment income of $90.4 million. PMT previously announced a cash dividend for the first quarter of 2023 of $0.40 per common share of beneficial interest, which was declared on March 15, 2023, and will be paid on April 28, 2023, to common share.

PennyMac Mortgage Investment Trust Reports First Quarter 2023 Results

PennyMac C Series Preferred Yielding Over 9.7%.

PennyMac C Series Preferred Yielding Over 9.7%

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that Donna Corley, former Executive Vice President and Head of Single-Family Business at Freddie Mac, will join its Board of Trustees and that Marianne Sullivan will step down from its Board of Trustees, both effective June 1, 2023. “I am excited to announce Donna Corley's election to our Board of Trustees,” said Chairman and Chief Executive Officer David Spector.

PennyMac Mortgage Investment Trust Announces Changes to Its Board of Trustees

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) will announce results for the quarter ended March 31, 2023 in a news release to be issued after the market close on Thursday, April 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 slide presentation will be available on the Company's website concurrently with the news release.

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

Ellington Financial

Invesco KBW Premium Yield Equity REIT ETF

MFA Financial

VanEck Mortgage REIT Income ETF

Annaly Capital

iShares Preferred and Income Securities ETF 

Rithm Capital Corp

Vanguard Real Estate ETF

Wild swings in relative share prices leads to a dramatic change in relative values. Exploiting these opportunities enhances total returns and dividend income over time.

Extreme Market Failure In The Mortgage REIT Sector

Mortgage servicing rights increase in value as interest rates rise. This will reverse if rates start falling this year.

Mortgage Servicing Could Be a Risk for PennyMac Mortgage Trust. Here's Why

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 first quarter of 2023. This dividend will be paid on April 28, 2023, to common shareholders of record as of April 14, 2023.

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

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that Doug Jones, President and Chief Mortgage Banking Officer, joined its Board of Trustees effective March 7, 2023. In his role as President of PennyMac Mortgage Investment Trust, Mr. Jones is responsible for the company's mortgage banking activities, including correspondent loan production and loan servicing.

PennyMac Mortgage Investment Trust Announces Doug Jones Joined Its Board of Trustees

PMT reported a net loss of $5.8 million which is a substantial improvement compared to a net loss of $27.3 million in 4Q21. I believe PMT can distribute a cash dividend of $0.47 per share in each of the four quarters of 2023, which means an annual projected dividend of $1.88, representing a yield of 14.62%.

PennyMac Mortgage: Buy For Solid Dividend Yield And Potential Upside

Mortgage servicing has been the engine driving profits lately, but the servicing book is fully valued.

Don't Be Fooled: This Ultra-High Dividend Might Be in Trouble

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees has declared cash dividends for the first 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.

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

PennyMac Mortgage (PMT) delivered earnings and revenue surprises of -117.95% and 51.48%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

PennyMac Mortgage (PMT) Reports Q4 Loss, Misses Revenue Estimates

PennyMac Mortgage Investment Trust (NYSE:PMT ) Q4 2022 Earnings Conference Call February 2, 2023 5:30 PM ET Company Participants Isaac Garden - Investor Relations David Spector - Chairman & Chief Executive Officer Vandy Fartaj - Senior Managing Director & Chief Investment Officer Dan Perotti - Senior Managing Director & Chief Financial Officer Conference Call Participants Isaac Garden Good afternoon, and welcome to the Fourth Quarter and Full Year 2022 Earnings Discussion for PennyMac Mortgage Investment Trust. The slides that accompany this discussion are available on PennyMac Mortgage Investment Trust's website at pmt.pennymac.com.

PennyMac Mortgage Investment Trust (PMT) Q4 2022 Earnings Call Transcript

WESTLAKE VILLAGE, Calif.--( BUSINESS WIRE )--PennyMac Mortgage Investment Trust (NYSE: PMT) today reported a net loss attributable to common shareholders of $5.8 million, or $(0.07) per common share on a diluted basis for the fourth quarter of 2022, on net investment income of $49.4 million. PMT previously announced a cash dividend for the fourth quarter of 2022 of $0.40 per common share of beneficial interest, which was declared on December 7, 2022 and paid on January 27, 2023 to common shareholders of record as of December 30, 2022.

PennyMac Mortgage Investment Trust Reports Fourth Quarter and Full-Year 2022 Results

WESTLAKE VILLAGE, Calif.--( BUSINESS WIRE )--PennyMac Mortgage Investment Trust (NYSE: PMT) will announce results for the quarter and year ended December 31, 2022 in a news release to be issued after the market close on Thursday, February 2, 2023. The release will be available online at pmt.pennymac.com.

PennyMac Mortgage Investment Trust Announces Date for Release of Fourth Quarter and Full-Year 2022 Results

PennyMac Financial Services

WESTLAKE VILLAGE, Calif.--( BUSINESS WIRE )--PennyMac Financial Services, Inc. (NYSE: PFSI), PennyMac Mortgage Investment Trust (NYSE: PMT) and their affiliates (collectively “Pennymac”) announced today their 15-year anniversary. Reflecting on enterprise growth and success, Pennymac will commemorate its anniversary through philanthropic efforts that foster stronger community engagement and drive favorable social impact across the nation.

Pennymac Commemorates a Milestone Anniversary

Mortgage servicing has driven results, but will they continue?

Why is PennyMac Mortgage Trust's Dividend Yield So High?

CBL & Associates Properties

Easterly Government Properties

EPR Properties

Global Net Lease

Highwoods Properties

Realty Income Corp

Prologis

Simon Property Group

I'm not bitter about 2022. And I'm not worried about 2023, even with the looming recession we're supposed to be in for. Instead, I'm writing out my list of resolutions as I do every year with the same good cheer I've had in the past.

5 REIT Resolutions For 2023

PMT-C offers investors an attractive yield over 10% with about 50% upside to call value. I don't expect a call, but it's nice to know the ceiling is so high. PMT-B is a better choice than PMT-A today. While PMT-A floats sooner, PMT-B is $.99 cheaper and will have a slightly higher spread when both shares float.

Solid 10% Yield On PennyMac's Preferred Shares

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 fourth quarter of 2022. This dividend will be paid on January 27, 2023, to common shareholders of record as of December 30, 2022.

PennyMac Mortgage Investment Trust Declares Fourth Quarter 2022 Dividend for Its Common Shares

WESTLAKE VILLAGE, Calif.--( BUSINESS WIRE )--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees has declared cash dividends for the fourth quarter of 2022 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 of Beneficial Interest (NYSE: PMT PrC).

PennyMac Mortgage Investment Trust Declares Fourth Quarter 2022 Dividends for Its Preferred Shares

PennyMac Mortgage Investment Trust (NYSE:PMT ) Q3 2022 Results Conference Call October 27, 2022 5:00 PM ET Company Participants Isaac Garden - Investor Relations David Spector - Chairman and Chief Executive Officer Vandy Fartaj - Senior Managing Director and Chief Investment Officer Dan Perotti - Senior Managing Director and Chief Financial Officer Conference Call Participants Isaac Garden Good afternoon and welcome to the Third Quarter Earnings Discussion for PennyMac Mortgage Investment Trust. The slides that accompany this discussion are available on PennyMac Mortgage Investment Trust's website at www.pennymac-reit.com.

PennyMac Mortgage Investment Trust (PMT) Q3 2022 Earnings Call Transcript

iShares Mortgage Real Estate ETF

Chimera Investment

The iShares Trust iShares Mortgage Real Estate ETF (BATS: REM) has 50 holdings diversified evenly across small, mid, and large-cap equities, also allocating less than half of its assets to the financial services sector.

News for PennyMac Mortgage Investment Stock (PMT)