PennyMac Mortgage Investment Trust
Market Cap
US$1.8b
Last Updated
2021/03/04 23:19 UTC
Data Sources
Company Financials +
Executive Summary
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in mortgage-related assets in the United States. More Details
Rewards
Risk Analysis
Snowflake Analysis
Average dividend payer with moderate growth potential.
Similar Companies
Share Price & News
How has PennyMac Mortgage Investment Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PMT is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: PMT's weekly volatility has decreased from 17% to 4% over the past year.
Market Performance
7 Day Return
-0.7%
PMT
-1.3%
US Mortgage REITs
-3.4%
US Market
1 Year Return
-13.4%
PMT
-22.1%
US Mortgage REITs
29.4%
US Market
Return vs Industry: PMT exceeded the US Mortgage REITs industry which returned -22.1% over the past year.
Return vs Market: PMT underperformed the US Market which returned 29.4% over the past year.
Shareholder returns
| PMT | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.7% | -1.3% | -3.4% |
| 30 Day | 4.0% | 7.8% | 0.6% |
| 90 Day | 2.5% | 9.7% | 6.3% |
| 1 Year | -4.5%-13.4% | -13.5%-22.1% | 32.2%29.4% |
| 3 Year | 42.3%7.3% | 10.5%-19.3% | 51.3%41.7% |
| 5 Year | 137.3%41.8% | 58.0%-8.2% | 119.6%95.2% |
Long-Term Price Volatility Vs. Market
How volatile is PennyMac Mortgage Investment Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
How Much Of PennyMac Mortgage Investment Trust (NYSE:PMT) Do Institutions Own?2 months ago | Simply Wall St
Read This Before Selling PennyMac Mortgage Investment Trust (NYSE:PMT) Shares3 months ago | Simply Wall St
PennyMac Mortgage Investment Trust's (NYSE:PMT) Shareholders Are Down 23% On Their SharesValuation
Is PennyMac Mortgage Investment Trust undervalued compared to its fair value and its price relative to the market?
68.3x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: PMT ($18.8) is trading above our estimate of fair value ($10.09)
Significantly Below Fair Value: PMT is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: PMT is poor value based on its PE Ratio (68.8x) compared to the US Mortgage REITs industry average (19.8x).
PE vs Market: PMT is poor value based on its PE Ratio (68.8x) compared to the US market (21.4x).
Price to Earnings Growth Ratio
PEG Ratio: PMT is good value based on its PEG Ratio (0.9x)
Price to Book Ratio
PB vs Industry: PMT's PB Ratio (0.9x) is in line with the US Mortgage REITs industry average.
Next Steps
Future Growth
How is PennyMac Mortgage Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
70.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PMT's forecast earnings growth (74.1% per year) is above the savings rate (2%).
Earnings vs Market: PMT's earnings (74.1% per year) are forecast to grow faster than the US market (19.6% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: PMT's revenue is expected to decline over the next 3 years (-41% per year).
High Growth Revenue: PMT's revenue is forecast to decline over the next 3 years (-41% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PMT's Return on Equity is forecast to be low in 3 years time (9%).
Next Steps
Past Performance
How has PennyMac Mortgage Investment Trust performed over the past 5 years?
-18.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PMT has high quality earnings.
Growing Profit Margin: PMT's current net profit margins (1.9%) are lower than last year (20.4%).
Past Earnings Growth Analysis
Earnings Trend: PMT's earnings have declined by 18.2% per year over the past 5 years.
Accelerating Growth: PMT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: PMT had negative earnings growth (-86%) over the past year, making it difficult to compare to the Mortgage REITs industry average (-37.7%).
Return on Equity
High ROE: PMT's Return on Equity (2.3%) is considered low.
Next Steps
Financial Health
How is PennyMac Mortgage Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: PMT's short term assets ($7.0B) exceed its short term liabilities ($6.9B).
Long Term Liabilities: PMT's short term assets ($7.0B) exceed its long term liabilities ($2.3B).
Debt to Equity History and Analysis
Debt Level: PMT's debt to equity ratio (389.1%) is considered high.
Reducing Debt: PMT's debt to equity ratio has increased from 280.8% to 389.1% over the past 5 years.
Debt Coverage: PMT's debt is not well covered by operating cash flow (7.5%).
Interest Coverage: Insufficient data to determine if PMT's interest payments on its debt are well covered by EBIT.
Balance Sheet
Next Steps
Dividend
What is PennyMac Mortgage Investment Trust current dividend yield, its reliability and sustainability?
8.15%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PMT's dividend (8.09%) is higher than the bottom 25% of dividend payers in the US market (1.31%).
High Dividend: PMT's dividend (8.09%) is in the top 25% of dividend payers in the US market (3.69%)
Stability and Growth of Payments
Stable Dividend: PMT's dividend payments have been volatile in the past 10 years.
Growing Dividend: PMT's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (556.4%), PMT's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PMT's dividends in 3 years are forecast to be covered by earnings (88.3% payout ratio).
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Management
How experienced are the management team and are they aligned to shareholders interests?
3.6yrs
Average management tenure
CEO
David Spector (57 yo)
4.17yrs
Tenure
US$747,969
Compensation
Mr. David A. Spector has been the President and Chief Executive Officer of PennyMac Financial Services, Inc. since February 2013 and January 1, 2017 respectively. Mr. Spector has been Chief Executive Offic...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Trustee | 4.17yrs | US$747.97k | 0.15% $ 2.7m | |
| President & Chief Mortgage Banking Officer | no data | US$249.97k | 0.057% $ 1.0m | |
| Senior MD & COO | 0.17yr | US$249.97k | 0.088% $ 1.6m | |
| Senior MD & Chief Investment Officer | 11yrs | US$299.99k | 0.095% $ 1.8m | |
| Senior MD & CFO | 0.17yr | US$191.06k | 0.053% $ 982.1k | |
| Chief Accounting Officer | no data | no data | no data | |
| Executive Vice President of Investor Relations | 0.17yr | no data | no data | |
| Senior MD | 3.08yrs | no data | no data | |
| Senior MD & Chief Risk Officer | no data | US$191.06k | 0.078% $ 1.4m | |
| Senior MD & Chief Enterprise Operations Officer | 5.08yrs | US$235.15k | no data | |
| Senior MD & Chief Enterprise Operations Officer | no data | US$191.06k | 0.037% $ 685.2k | |
| Senior MD & Chief Mortgage Operations Officer | 9.08yrs | US$191.06k | no data |
3.6yrs
Average Tenure
58.5yo
Average Age
Experienced Management: PMT's management team is considered experienced (4.2 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Trustee | 4.17yrs | US$747.97k | 0.15% $ 2.7m | |
| Independent Trustee | 11.58yrs | US$193.25k | 0.022% $ 409.7k | |
| Independent Trustee | 3.5yrs | US$193.25k | 0.10% $ 1.9m | |
| Independent Trustee | 11.58yrs | US$201.00k | 0.11% $ 2.1m | |
| Independent Trustee | 11.58yrs | US$216.25k | 0.045% $ 834.5k | |
| Independent Trustee | 8.33yrs | US$206.00k | 0.046% $ 846.1k | |
| Lead Independent Trustee | 1yr | US$204.00k | 0.022% $ 408.4k |
11.6yrs
Average Tenure
60yo
Average Age
Experienced Board: PMT's board of directors are seasoned and experienced ( 11.6 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: PMT insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
PennyMac Mortgage Investment Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: PennyMac Mortgage Investment Trust
- Ticker: PMT
- Exchange: NYSE
- Founded: 2009
- Industry: Mortgage REITs
- Sector: Diversified Financials
- Market Cap: US$1.841b
- Shares outstanding: 97.90m
- Website: https://www.pennymacmortgageinvestmenttrust.com
Number of Employees
Location
- PennyMac Mortgage Investment Trust
- 3043 Townsgate Road
- Westlake Village
- California
- 91361
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PMT | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Jul 2009 |
| 8PM | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Jul 2009 |
| PMT.PRA | NYSE (New York Stock Exchange) | PFD SER A | US | USD | Mar 2017 | |
| PMT.PRB | NYSE (New York Stock Exchange) | CUM RED PFD B | US | USD | Jun 2017 |
Biography
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in mortgage-related assets in the United States. The company operates through Credit Sensitive Strategies, Interest Rate S...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/04 23:19 |
| End of Day Share Price | 2021/03/04 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.