PennyMac Mortgage Investment Trust reports developments as a mortgage REIT that invests primarily in residential mortgage loans and mortgage-related assets. Its news commonly covers quarterly and annual results, common-share dividends, net investment income, return on common equity and segment performance across aggregation and securitization, credit-sensitive strategies and interest-rate-sensitive strategies.
Company updates also discuss mortgage servicing rights, organically created GSE credit risk transfer investments, non-Agency subordinate bonds and investment activity generated through the Pennymac production and servicing platform. Announcements may include investor-call timing, shareholder distributions and joint Pennymac initiatives conducted with PennyMac Financial Services.
PennyMac Financial Services reported a net income of $135.1 million, or $2.46 per share, for Q3 2022 on revenues of $476.3 million. The book value per share rose to $68.26 from $65.38 in Q2 2022. The company declared a cash dividend of $0.20 per share, payable on November 23, 2022. Although pretax income increased 4% from the prior quarter, it fell 45% year-over-year. The Servicing segment saw income decline, while the Production segment reported increased income but lower overall production volumes. The company remains focused on risk management and efficiency improvements.
PennyMac Mortgage Investment Trust (NYSE: PMT) will release its financial results for the quarter ending September 30, 2022 after market close on October 27, 2022. Accompanying the announcement, a recorded presentation by executives will be available online. Interested parties can view the release and the presentation at www.PennyMac-REIT.com or contact the Investor Relations department for further inquiries.
PennyMac Mortgage Investment Trust (NYSE: PMT) has declared a cash dividend of $0.47 per common share for Q3 2022. This dividend will be paid on October 28, 2022, to shareholders on record as of October 14, 2022. PMT primarily invests in residential mortgage loans and mortgage-related assets and is externally managed by PennyMac Financial Services (NYSE: PFSI). Investors are advised to consider potential market conditions and risks that may affect future performance.
PennyMac Financial Services (NYSE: PFSI) announced its participation in the 2022 Barclays Global Financial Services Conference, scheduled for September 14, 2022, at 9:00 a.m. Eastern Time. CEO David A. Spector and CFO Daniel S. Perotti will engage in a fireside chat during the event. Investors can access the live audio webcast through the company's Investor Relations website. For the twelve months ending June 30, 2022, PennyMac originated loans totaling $166 billion, ranking as the fourth largest mortgage lender in the U.S., while servicing $527 billion in loans, placing it among the top ten mortgage servicers.
PennyMac Mortgage Investment Trust (NYSE: PMT) will present at the 2022 Barclays Global Financial Services Conference alongside PennyMac Financial Services (NYSE: PFSI). The event features a fireside chat with David A. Spector, Chairman and CEO, and Daniel S. Perotti, CFO on September 14, 2022, at 9:00 a.m. ET. A live audio webcast will be available on the company's Investor Relations website, with a replay archived for a limited time.
PennyMac Mortgage Investment Trust (NYSE: PMT) has declared cash dividends for Q3 2022 on three series of preferred shares. The dividend rates are as follows:
- Series A: 8.125% with a payment of $0.507813, record date on September 1, 2022, payment date September 15, 2022.
- Series B: 8.000% with a payment of $0.500000, record date September 1, 2022, payment date September 15, 2022.
- Series C: 6.750% with a payment of $0.421875, record date September 1, 2022, payment date September 15, 2022.
This reflects the company’s commitment to return value to shareholders.
PennyMac Financial Services (PFSI) reported a net income of $129.2 million ($2.28 per share) for Q2 2022, with revenues of $511.5 million. Book value per share increased to $65.38. Despite a 24% drop in pretax income from the previous quarter, the company announced a cash dividend of $0.20 per share. The servicing portfolio grew to $527.3 billion in UPB, a 2% increase from Q1 2022. However, significant declines in loan production and interest rate lock commitments were noted, reflecting challenges in the origination market.
PennyMac Mortgage Investment Trust (PMT) reported a net loss of $81.2 million for Q2 2022, equating to $(0.88) per share, against a net investment income of $21.5 million. The loss is attributed to fair value decreases in credit-sensitive strategies, alongside a tax provision of $30.9 million. PMT repurchased 1.9 million shares at an average price of $14.72. The book value per share declined from $17.87 to $16.59. Despite losses, management expressed confidence in future investment opportunities due to improved spread conditions.
PennyMac Mortgage Investment Trust (PMT) will announce its financial results for the quarter ended June 30, 2022, after market close on August 2, 2022. The news release will be accessible on www.PennyMac-REIT.com. A recorded presentation reviewing the results will also be available online simultaneously. For those unable to access the website, copies of the slide presentation can be requested through the Investor Relations department at (818) 224-7028.
PennyMac Mortgage Investment Trust (PMT) has declared a cash dividend of $0.47 per common share for Q2 2022, payable on July 28, 2022, to shareholders on record as of July 14, 2022. This payout reflects the company's commitment to returning value to its investors while investing primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, a subsidiary of PennyMac Financial Services (PFSI).