Pennymac Mortg Stock Price, News & Analysis

PennyMac Mortgage Investment Trust (NYSE: PMT) announced the pricing of its public offering of 10,000,000 Series C Cumulative Redeemable Preferred Shares, raising $250 million. The shares are offered at a liquidation preference of $25.00 each, with expected closing on August 24, 2021. An additional 1,500,000 shares may be purchased by underwriters for overallotments. Proceeds will fund general business purposes, including correspondent production, investment activities, and debt repayment. The shares will be listed under the symbol “PMT PrC” on the NYSE.

PennyMac Mortgage Investment Trust (NYSE: PMT) reported a net income of $31.9 million, or $0.32 per share for Q2 2021, down from $65.4 million in Q1. The net investment income reached $121.6 million. PMT declared a $0.47 cash dividend, paid on July 29, 2021. The company experienced a decrease in book value per share to $20.77 from $20.90. Despite a strong correspondent segment, challenges included declines in conventional correspondent loan production, which totaled $30.5 billion, down 10% from the previous quarter.

PennyMac Mortgage Investment Trust (NYSE: PMT) is set to announce its financial results for the quarter ending June 30, 2021, on August 5, 2021, after market close. Investors can access the news release and accompanying presentation online at www.PennyMac-REIT.com. The company’s executives will also provide a recorded analysis of the results for stakeholders.

PMT operates as a mortgage REIT, primarily investing in residential mortgage loans and related assets, and is externally managed by PNMAC Capital Management, a subsidiary of PennyMac Financial Services.

PennyMac Mortgage Investment Trust (NYSE: PMT) has declared a cash dividend of $0.47 per common share for Q2 2021. This dividend will be paid on July 29, 2021 to shareholders of record as of July 15, 2021. The announcement reflects PMT's ongoing commitment to return value to shareholders despite potential market challenges.

PennyMac Mortgage Investment Trust (NYSE: PMT) announced its virtual Investor Day scheduled for June 17, 2021, in collaboration with PennyMac Financial Services, Inc. (NYSE: PFSI). Registration is now open on their investor relations website. The event will feature presentations from senior executives and include Q&A sessions, starting at 12:00 p.m. ET and concluding at approximately 3:00 p.m. ET. A live video webcast will be available for attendees, with a replay accessible afterward.

PennyMac Financial Services (NYSE: PFSI) has announced an upcoming combined virtual Investor Day with PennyMac Mortgage Investment Trust (NYSE: PMT) scheduled for June 17, 2021. Registration is open on their investor relations website. The event will run from 12:00 p.m. to 3:00 p.m. ET and will feature presentations by senior executives and Q&A sessions. PennyMac Financial has established itself as a leader in the U.S. residential mortgage market, originating $228 billion in loans last year and servicing $449 billion in loans, ranking it as the second-largest lender and sixth-largest servicer in the nation.

PennyMac Mortgage Investment Trust (NYSE: PMT) has appointed Renee R. Schultz, a former Fannie Mae executive, to its Board of Trustees. With over 22 years of experience in the mortgage sector, Schultz held various leadership roles at Fannie Mae, including Senior Vice President of Capital Markets. Her expertise in capital markets pricing, credit risk transfer, and securitization policy is expected to significantly enhance the Board's capabilities. Chairman and CEO David A. Spector expressed enthusiasm regarding her appointment, highlighting the value she will bring to PMT.

PennyMac Mortgage Investment Trust (NYSE: PMT) has announced cash dividends for Q2 2021 on its preferred shares. The 8.125% Series A Preferred Shares (PMT PrA) will yield a dividend of $0.507813 per share, payable on June 15, 2021, with a record date of June 1, 2021. The 8.00% Series B Preferred Shares (PMT PrB) will provide a dividend of $0.500000 per share, also payable on June 15, 2021, with the same record date. This announcement reflects the company's ongoing commitment to rewarding shareholders with consistent income.

PennyMac Mortgage Investment Trust (NYSE: PMT) reported a net income of $65.4 million or $0.67 per share for Q1 2021, down from $76.6 million in Q4 2020. The firm announced a cash dividend of $0.47 declared on March 24, 2021. Investment income demonstrated strength, with $201.4 million reported. However, conventional loan production fell by 11% from the previous quarter. The book value per share increased to $20.90. PMT issued $1.4 billion in term debt, enhancing its capital structure.