Latest news with #PennyMacMortgageInvestmentTrust
Business Wire
12 hours ago
- Business
- Business Wire
PennyMac Mortgage Investment Trust Declares Second Quarter 2025 Dividend for Its Common 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 second quarter of 2025. This dividend will be paid on July 25, 2025, to common shareholders of record as of July 11, 2025. About PennyMac Mortgage Investment Trust PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). Additional information about PennyMac Mortgage Investment Trust is available at Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, regarding management's beliefs, estimates, projections and assumptions with respect to, among other things, the Company's financial results, future operations, business plans and investment strategies, as well as industry and market conditions, all of which are subject to change. Words like 'believe,' 'expect,' 'anticipate,' 'promise,' 'plan,' and other expressions or words of similar meanings, as well as future or conditional verbs such as 'will,' 'would,' 'should,' 'could,' or 'may' are generally intended to identify forward-looking statements. Actual results and operations for any future period may vary materially from those projected herein and from past results discussed herein. Factors which could cause actual results to differ materially from historical results or those anticipated include, but are not limited to: changes in interest rates; the Company's ability to comply with various federal, state and local laws and regulations that govern its business; volatility in the Company's industry, the debt or equity markets, the general economy or the real estate finance and real estate markets; events or circumstances which undermine confidence in the financial and housing markets or otherwise have a broad impact on financial and housing markets; changes in real estate values, housing prices and housing sales; changes in macroeconomic, consumer and real estate market conditions; the degree and nature of the Company's competition; the availability of, and level of competition for, attractive risk-adjusted investment opportunities in mortgage loans and mortgage-related assets that satisfy the Company's investment objectives; the inherent difficulty in winning bids to acquire mortgage loans, and the Company's success in doing so; the concentration of credit risks to which the Company is exposed; the Company's dependence on and potential conflicts with its manager, servicer and their affiliates; the Company's ability to mitigate cybersecurity risks, cybersecurity incidents and technology disruptions; the development of artificial intelligence; the availability, terms and deployment of short term and long term capital; the adequacy of the Company's cash reserves and working capital; the Company's ability to maintain the desired relationship between its financing and the interest rates and maturities of its assets; the timing and amount of cash flows, if any, from the Company's investments; the Company's substantial amount of indebtedness; the performance, financial condition and liquidity of borrowers; the Company's exposure to risks of loss and disruptions in operations resulting from severe weather events, man-made or other natural conditions, including climate change and pandemics; the ability of the Company's servicer, which also provides the Company with fulfillment services, to approve and monitor correspondent sellers and underwrite loans to investor standards; incomplete or inaccurate information or documentation provided by customers or counterparties, or adverse changes in the financial condition of the Company's customers and counterparties; the Company's indemnification and repurchase obligations in connection with mortgage loans it purchases, sells or securitizes; the quality and enforceability of the collateral documentation evidencing the Company's ownership and rights in the assets in which it invests; increased rates of delinquency, defaults and forbearances and/or decreased recovery rates on the Company's investments; the performance of mortgage loans underlying mortgage-backed securities in which the Company retains credit risk; the Company's ability to foreclose on its investments in a timely manner or at all; increased prepayments of the mortgages and other loans underlying the Company's mortgage-backed securities or relating to the Company's mortgage servicing rights and other investments; risks associated with the discontinuation of LIBOR; the degree to which the Company's hedging strategies may or may not protect it from interest rate volatility; the effect of the accuracy of or changes in the estimates the Company makes about uncertainties, contingencies and asset and liability valuations when measuring and reporting upon the Company's financial condition and results of operations; the Company's ability to maintain appropriate internal control over financial reporting; the Company's ability to detect misconduct and fraud; developments in the secondary markets for the Company's mortgage loan products; legislative and regulatory changes that impact the mortgage loan industry or housing market; regulatory or other changes that impact government agencies or government-sponsored entities, or such changes that increase the cost of doing business with such agencies or entities; federal and state mortgage regulations and enforcement; changes in government support of homeownership; changes in government or government-sponsored home affordability programs; changes in the Company's investment objectives or investment or operational strategies, including any new lines of business or new products and services that may subject it to additional risks; limitations imposed on the Company's business and its ability to satisfy complex rules for it to qualify as a REIT for U.S. federal income tax purposes and qualify for an exclusion from the Investment Company Act of 1940 and the ability of the Company's subsidiaries to qualify as REITs for U.S. federal income tax purposes; changes in governmental regulations, accounting treatment, tax rates and similar matters; the Company's ability to make distributions to its shareholders in the future; the Company's failure to deal appropriately with issues that may give rise to reputational risk; and the Company's organizational structure and certain requirements in its charter documents. You should not place undue reliance on any forward-looking statement and should consider all of the uncertainties and risks described above, as well as those more fully discussed in reports and other documents filed by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to publicly update or revise any forward-looking statements or any other information contained herein, and the statements made in this press release are current as of the date of this release only.
Yahoo
a day ago
- Business
- Yahoo
PMT Q1 Deep Dive: Interest Rate Volatility Pressures Results, Securitization Focus Intensifies
Mortgage REIT PennyMac Mortgage Investment Trust (NYSE:PMT) fell short of the market's revenue expectations in Q1 CY2025, with sales falling 40.1% year on year to $44.47 million. Its non-GAAP loss of $0.01 per share was significantly below analysts' consensus estimates. Is now the time to buy PMT? Find out in our full research report (it's free). Revenue: $44.47 million Adjusted EPS: -$0.01 vs analyst estimates of $0.39 (significant miss) Market Capitalization: $1.09 billion PennyMac Mortgage Investment Trust's first quarter was marked by significant challenges stemming from interest rate volatility and widening credit spreads, resulting in a non-GAAP net loss and revenue that fell short of Wall Street expectations. Management cited that fair value declines, particularly on mortgage servicing rights (MSRs), were a primary headwind, even as income from core operations remained stable. CEO David Spector noted, 'Strong levels of income, excluding market driven value changes, were offset by net fair value declines due to interest rate volatility and credit spread widening.' The team emphasized that risk management practices, including hedging and unique financing structures, helped limit further downside in a turbulent market. Looking ahead, management remains focused on leveraging its private-label securitization platform and expanding credit-sensitive investments as the mortgage market adapts to ongoing rate fluctuations. CEO David Spector highlighted anticipated growth opportunities from increased non-owner-occupied and jumbo loan volumes, stating, 'The increased volume of non-owner-occupied and jumbo loans underscores the potential for future investments.' While the yield curve's shape continues to influence returns, management expects stability in the dividend and sees disciplined capital allocation into higher-yielding strategies as key to navigating industry uncertainty. Management pointed to several factors shaping the quarter, with a pronounced focus on risk management, portfolio mix, and the dynamics of the mortgage origination landscape. Interest Rate Volatility Impact: The quarter's results were pressured by fair value declines on MSR assets, which management attributed to falling mortgage rates and revised prepayment assumptions. This was partially offset by gains in mortgage-backed securities (MBS), but the overall environment remained challenging for interest rate-sensitive strategies. Credit-Sensitive Strategy Growth: PMT increased its focus on credit-sensitive strategies, particularly through retaining subordinate bonds in private-label securitizations. Management emphasized that recent credit spread widening has raised potential returns on these investments, with expected yields in the mid-teens. Securitization Activity: The company completed three securitizations of investor loans totaling $1 billion in unpaid principal balance, retaining $94 million in new investments. Management plans to maintain a cadence of approximately one non-owner-occupied securitization per month and one jumbo loan securitization per quarter going forward. Stable Underlying Credit Quality: Despite market turbulence, management noted that delinquency rates on underlying mortgages remain low, supported by high borrower equity and strong consumer credit profiles. The seasoned nature of the portfolio, with many loans originated during low-rate periods, further underpins stability. Dividend Policy and Capital Structure: CFO Dan Perotti reaffirmed the company's commitment to dividend stability, explaining that the run rate decline reflects yield curve dynamics rather than credit deterioration. He also highlighted the advantages of PMT's non-mark-to-market financing, which shields the company from forced asset sales during periods of spread widening. Management's outlook emphasizes disciplined capital allocation into credit-sensitive strategies and a sustained focus on private-label securitization as drivers of returns amid ongoing market volatility. Shift Toward Credit Investments: The company intends to direct more capital toward credit-sensitive strategies, capitalizing on higher yields from subordinate bonds in private-label securitizations as credit spreads remain wide. Management believes this approach will enhance return potential in a market where traditional interest rate-sensitive investments face pressure. Origination and Securitization Pipeline: Anticipated growth in non-owner-occupied and jumbo loan volumes is expected to feed a robust pipeline for future securitizations. Management plans to maintain a steady pace of new securitizations, leveraging its origination platform for consistent investment opportunities. Dividend Stability and Yield Curve Dynamics: While run rate earnings have declined due to a flatter yield curve, management expects the dividend to remain stable. Any steepening of the yield curve or decline in short-term rates could improve returns on interest rate-sensitive assets, providing upside to earnings if market conditions shift. In the coming quarters, our analysts will monitor (1) the pace and profitability of new private-label securitizations, (2) the impact of yield curve movements on both credit and interest rate-sensitive strategies, and (3) trends in mortgage origination volumes, especially for non-owner-occupied and jumbo loans. Execution on capital allocation and dividend stability will remain key indicators of management's ability to deliver risk-adjusted returns. PennyMac Mortgage Investment Trust currently trades at $12.58, down from $13.14 just before the earnings. Is the company at an inflection point that warrants a buy or sell? The answer lies in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today.
Yahoo
28-05-2025
- Business
- Yahoo
PennyMac Mortgage Investment Trust to Present at the Nareit REITweek 2025 Investor Conference
WESTLAKE VILLAGE, Calif., May 28, 2025--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that it will present at the Nareit REITweek 2025 Investor Conference. Senior Managing Director and Chief Financial Officer Daniel Perotti and Managing Director, Portfolio Risk Management, Marshall Sebring will participate in a fireside chat at 11:00 a.m. Eastern Time on Tuesday, June 3, 2025. A link to the live audio webcast will be available on PennyMac Mortgage Investment Trust's Investor Relations website at A replay of the webcast will be archived for a limited time. About PennyMac Mortgage Investment Trust PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). Additional information about PennyMac Mortgage Investment Trust is available at View source version on Contacts Media Kristyn Clarkmediarelations@ 805.225.8224 Investors Kevin ChamberlainIsaac Gardeninvestorrelations@ 818.224.7028 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
28-05-2025
- Business
- Business Wire
PennyMac Mortgage Investment Trust to Present at the Nareit REITweek 2025 Investor Conference
WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that it will present at the Nareit REITweek 2025 Investor Conference. Senior Managing Director and Chief Financial Officer Daniel Perotti and Managing Director, Portfolio Risk Management, Marshall Sebring will participate in a fireside chat at 11:00 a.m. Eastern Time on Tuesday, June 3, 2025. A link to the live audio webcast will be available on PennyMac Mortgage Investment Trust's Investor Relations website at A replay of the webcast will be archived for a limited time. About PennyMac Mortgage Investment Trust PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). Additional information about PennyMac Mortgage Investment Trust is available at
Yahoo
15-05-2025
- Business
- Yahoo
PennyMac Mortgage Investment Trust Declares Second Quarter 2025 Dividends for Its Preferred Shares
WESTLAKE VILLAGE, Calif., May 15, 2025--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees has declared cash dividends for the second quarter of 2025 on its 8.125% Series A Preferred Shares (NYSE: PMT PRA), its 8.000% Series B Preferred Shares (NYSE: PMT PRB) and its 6.750% Series C Preferred Shares (NYSE: PMT PRC). In accordance with the terms for each preferred series, the dividend information is as follows: Series Ticker AnnualDividend Rate Dividend PerShare Record Date Payment Date A PMT PRA 8.125% $0.507813 June 1, 2025* June 16, 2025 B PMT PRB 8.000% $0.500000 June 1, 2025* June 16, 2025 C PMT PRC 6.750% $0.421875 June 1, 2025* June 16, 2025 *As June 1, 2025 falls on a Sunday, the effective record date for these dividends will be Friday, May 30, 2025 About PennyMac Mortgage Investment Trust PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). Additional information about PennyMac Mortgage Investment Trust is available at Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, regarding management's beliefs, estimates, projections and assumptions with respect to, among other things, PennyMac Mortgage Investment Trust's (the "Company") financial results, future operations, business plans and investment strategies, as well as industry and market conditions, all of which are subject to change. Words like "believe," "expect," "anticipate," "promise," "plan," and other expressions or words of similar meanings, as well as future or conditional verbs such as "will," "would," "should," "could," or "may" are generally intended to identify forward-looking statements. Actual results and operations for any future period may vary materially from those projected herein and from past results discussed herein. Factors which could cause actual results to differ materially from historical results or those anticipated include, but are not limited to: changes in interest rates; the Company's ability to comply with various federal, state and local laws and regulations that govern its business; volatility in the Company's industry, the debt or equity markets, the general economy or the real estate finance and real estate markets; events or circumstances which undermine confidence in the financial and housing markets or otherwise have a broad impact on financial and housing markets; changes in real estate values, housing prices and housing sales; changes in macroeconomic, consumer and real estate market conditions; the degree and nature of the Company's competition; the availability of, and level of competition for, attractive risk-adjusted investment opportunities in mortgage loans and mortgage-related assets that satisfy the Company's investment objectives; the inherent difficulty in winning bids to acquire mortgage loans, and the Company's success in doing so; the concentration of credit risks to which the Company is exposed; the Company's dependence on and potential conflicts with its manager, servicer and their affiliates; the Company's ability to mitigate cybersecurity risks, cybersecurity incidents and technology disruptions; the development of artificial intelligence; the availability, terms and deployment of short term and long term capital; the adequacy of the Company's cash reserves and working capital; the Company's ability to maintain the desired relationship between its financing and the interest rates and maturities of its assets; the timing and amount of cash flows, if any, from the Company's investments; the Company's substantial amount of indebtedness; the performance, financial condition and liquidity of borrowers; the Company's exposure to risks of loss and disruptions in operations resulting from severe weather events, man-made or other natural conditions, including climate change and pandemics; the ability of the Company's servicer, which also provides the Company with fulfillment services, to approve and monitor correspondent sellers and underwrite loans to investor standards; incomplete or inaccurate information or documentation provided by customers or counterparties, or adverse changes in the financial condition of the Company's customers and counterparties; the Company's indemnification and repurchase obligations in connection with mortgage loans it purchases and later sells or securitizes; the quality and enforceability of the collateral documentation evidencing the Company's ownership and rights in the assets in which it invests; increased rates of delinquency, defaults and forbearances and/or decreased recovery rates on the Company's investments; the performance of mortgage loans underlying mortgage-backed securities in which the Company retains credit risk; the Company's ability to foreclose on its investments in a timely manner or at all; increased prepayments of the mortgages and other loans underlying the Company's mortgage-backed securities or relating to the Company's mortgage servicing rights and other investments; risks associated with the discontinuation of LIBOR; the degree to which the Company's hedging strategies may or may not protect it from interest rate volatility; the effect of the accuracy of or changes in the estimates the Company makes about uncertainties, contingencies and asset and liability valuations when measuring and reporting upon the Company's financial condition and results of operations; the Company's ability to maintain appropriate internal control over financial reporting; the Company's ability to detect misconduct and fraud; 9 developments in the secondary markets for the Company's mortgage loan products; legislative and regulatory changes that impact the mortgage loan industry or housing market; regulatory or other changes that impact government agencies or government-sponsored entities, or such changes that increase the cost of doing business with such agencies or entities; federal and state mortgage regulations and enforcement; changes in government support of homeownership; changes in government or government-sponsored home affordability programs; changes in the Company's investment objectives or investment or operational strategies, including any new lines of business or new products and services that may subject it to additional risks; limitations imposed on the Company's business and its ability to satisfy complex rules for it to qualify as a REIT for U.S. federal income tax purposes and qualify for an exclusion from the Investment Company Act of 1940 and the ability of certain of the Company's subsidiaries to qualify as REITs or as taxable REIT subsidiaries for U.S. federal income tax purposes; changes in governmental regulations, accounting treatment, tax rates and similar matters; the Company's ability to make distributions to its shareholders in the future; the Company's failure to deal appropriately with issues that may give rise to reputational risk; and the Company's organizational structure and certain requirements in its charter documents. You should not place undue reliance on any forward-looking statement and should consider all of the uncertainties and risks described above, as well as those more fully discussed in reports and other documents filed by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to publicly update or revise any forward-looking statements or any other information contained herein, and the statements made in this press release are current as of the date of this release only. View source version on Contacts Media Kristyn Clarkmediarelations@ 805.225.8224 Investors Kevin ChamberlainIsaac Gardeninvestorrelations@ 818.224.7028
