Pennymac Mortg Stock Price, News & Analysis

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.

PennyMac Mortgage Investment Trust (NYSE: PMT) will announce its Q1 2021 results after market close on May 6, 2021. The news release and detailed results will be available on the company’s website. A recorded presentation by executives will accompany the results. Additionally, PMT will host a virtual Investor Day on June 17, 2021, starting at 12:00 p.m. ET, featuring sessions with senior executives from PMT and PennyMac Financial Services, Inc. (NYSE: PFSI).

PennyMac Mortgage Investment Trust (NYSE: PMT) announced its 2021 Annual Meeting of Shareholders will be held virtually on May 26, 2021, at 11:00 a.m. PDT. Shareholders of record as of March 30, 2021, are eligible to attend and vote. Participants can access the meeting via www.virtualshareholdermeeting.com/PMT2021, using their 16-digit control number from proxy materials. Shareholders are encouraged to vote in advance of the meeting using methods outlined in the proxy materials.

PennyMac Mortgage Investment Trust (NYSE: PMT) has declared a cash dividend of $0.47 per common share for Q1 2021. This dividend is set to be paid on April 29, 2021, to shareholders on record as of April 15, 2021. The trust primarily invests in residential mortgage loans and mortgage-related assets, operated by PNMAC Capital Management. Investors should note the potential impacts of market volatility and operational risks on future returns.

PennyMac Mortgage Investment Trust (NYSE: PMT) has appointed Doug Jones as President and Chief Mortgage Banking Officer, enhancing leadership continuity. Previously, Mr. Jones was PMT's Senior Managing Director, overseeing loan production and servicing. Chairman and CEO David A. Spector emphasized the importance of succession planning and recognized Mr. Jones as a highly experienced mortgage executive. This strategic move aims to leverage PMT's investments while delivering strong risk-adjusted returns to shareholders.

PennyMac Mortgage Investment Trust (NYSE: PMT) announced an upsized offering of $300 million in Exchangeable Senior Notes due 2026, increased from the previously planned $200 million. The Notes carry a 5.500% interest rate, with the initial exchange price set at approximately $21.69 per Common Share—15% above the $18.86 closing price on March 2, 2021. Proceeds will fund general business operations, including correspondent production and mortgage servicing investments. The offering is targeted at qualified institutional buyers and is scheduled for settlement on March 5, 2021.

PennyMac Mortgage Investment Trust (NYSE: PMT) announced a private offering of $200 million in Exchangeable Senior Notes due 2026, with an option for purchasers to buy an additional $30 million. The notes will be fully guaranteed by PMT and can be exchanged for cash, common shares, or a combination. Proceeds are intended for general business purposes, including funding correspondent production and repayment of debts. The securities will not be registered under the Securities Act and will only be offered to qualified institutional buyers.