Welcome to our dedicated page for Pennymac Mortg news (Ticker: PMT), a resource for investors and traders seeking the latest updates and insights on Pennymac Mortg stock.
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 Mortgage Investment Trust (NYSE: PMT) announced a cash dividend of $0.47 per common share for the fourth quarter of 2020, payable on January 29, 2021, to shareholders on record as of December 31, 2020. CEO David Spector noted that this dividend returns to pre-COVID levels, while maintaining a consistent payout reflective of expected ongoing taxable income, which has increased since the prior quarter.
PennyMac Mortgage Investment Trust (NYSE: PMT) announces executive role changes alongside organizational updates from PennyMac Financial Services, Inc. (NYSE: PFSI). Effective January 1, 2021, Andrew S. Chang transitions from Senior Managing Director and CFO to Senior Managing Director and COO. Daniel S. Perotti steps up from Deputy CFO to Senior Managing Director and CFO. CEO David A. Spector emphasizes that these promotions reflect the organization’s evolution and commitment to ensuring long-term success and strong risk-adjusted returns for shareholders.
PennyMac Mortgage Investment Trust (NYSE: PMT) declared cash dividends for Q4 2020 on its preferred shares. The Series A Preferred Shares will yield an annual rate of 8.125%, equating to $0.507813 per share, with a record date of December 1, 2020 and payment on December 15, 2020. In contrast, the Series B Preferred Shares will have an annual rate of 8.000% and a dividend of $0.500000 per share, also with a record date of December 1, 2020 and payment on December 15, 2020.
PennyMac Mortgage Investment Trust (NYSE: PMT) reported net income of $93.3 million ($0.94 per share) for Q3 2020, down from $458.4 million in Q2. Net investment income stood at $221 million, primarily driven by robust Correspondent Production segment results. Book value per share increased to $19.95. The company announced a cash dividend of $0.40, paid on October 30, 2020. Correspondent loan production reached $27.4 billion, marking a 45% rise from the previous quarter. The report emphasizes the focus on leveraging market position and technology to enhance returns.
PennyMac Mortgage Investment Trust (NYSE: PMT) will release its financial results for Q3 2020 after the market closes on November 5, 2020. A recorded presentation and slides will be available on their website at the same time as the news release. PMT is a mortgage REIT focused on investing in residential mortgage loans and related assets, managed by PNMAC Capital Management, a subsidiary of PennyMac Financial Services, Inc. For further inquiries, investors can contact the Investor Relations department.