5.41%
7.92%
0.80%
-1.33%
-5.25%
-23.75%
-41.56%
AI Spotlight on PMT
Company Description
PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States.The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.Its Interest Rate Sensitive Strategies segment engages in investing in mortgage servicing rights, excess servicing spreads, and agency and senior non-agency mortgage-backed securities (MBS), as well as related interest rate hedging activities.
The company's Correspondent Production segment is involved in purchasing, pooling, and reselling newly originated prime credit residential loans directly or in the form of MBS.PNMAC Capital Management, LLC acts as the manager of PennyMac Mortgage Investment Trust.The company qualifies as a real estate investment trust for federal income tax purposes.
It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its shareholders.PennyMac Mortgage Investment Trust was founded in 2009 and is headquartered in Westlake Village, California.
Market Data
| Last Price | 13.59 |
| Change Percentage | 5.41% |
| Open | 13.4 |
| Previous Close | 12.89 |
| Market Cap ( Millions) | 1180 |
| Volume | 729345 |
| Year High | 15.22 |
| Year Low | 11.77 |
| M A 50 | 13.0 |
| M A 200 | 13.69 |
Financial Ratios
| FCF Yield | -49.75% |
| Dividend Yield | 11.78% |
| ROE | 8.61% |
| Debt / Equity | 182.39% |
| Net Debt / EBIDTA | 485.70% |
| Price To Book | 0.61 |
| Price Earnings Ratio | 7.05 |
| Price To FCF | -2.01 |
| Price To sales | 1.06 |
| EV / EBITDA | 6.65 |
News
- 03:04 - PennyMac Mortgage Investment Trust (PMT) Q4 2024 Earnings Call Transcript
- 01:01 - PennyMac Mortgage (PMT) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
- Jan -30 - PennyMac Mortgage (PMT) Beats Q4 Earnings and Revenue Estimates
- Jan -30 - PennyMac Mortgage Investment Trust Reports Fourth Quarter and Full-Year 2024 Results
- Jan -23 - Past Time To Take Gains On These Big Yielders
- Jan -23 - PennyMac Mortgage Investment Trust Announces Date for Release of Fourth Quarter and Full-Year 2024 Results
- Jan -21 - PATRIOT ANNOUNCES CLOSING OF C$69 MILLION STRATEGIC INVESTMENT, OFFTAKE AND STRATEGIC PARTNERSHIP WITH VOLKSWAGEN AND POWERCO
- Jan -15 - High Yield REITs Whacked By Higher Rates
- Dec -14 - KBW Announces Index Rebalancing for Fourth-Quarter 2024
- Dec -13 - Huge Yields, Brief Notes
- Nov -26 - Select High Yield Preferreds Remain Opportunistically Priced
- Nov -26 - Investor and Shareholder Update Webinar
- Nov -01 - Patriot Battery Metals awarded Entrepreneur of the Year by the Quebec Mineral Exploration Association
- Oct -30 - These 15 Stocks Are Among the Top Dividend Payers in the Wilshire 5000
- Oct -29 - PennyMac Mortgage Investment Trust: Series C Preferred Shares Offer 8.2% Dividend Yield
- Oct -22 - PennyMac Mortgage (PMT) Reports Q3 Earnings: What Key Metrics Have to Say
- Oct -22 - PennyMac Mortgage Investment Trust (PMT) Q3 2024 Earnings Call Transcript
- Oct -22 - PennyMac Mortgage (PMT) Q3 Earnings and Revenues Miss Estimates
- Oct -22 - PennyMac Mortgage Investment Trust Reports Third Quarter 2024 Results
- Oct -17 - 3 Shares Yielding Over 9%
Business Breakdown
Expected Mid-Term Growth
Segment n°1 -> Credit Sensitive Strategies
Expected Growth : 7.53 %
What the company do ?
Credit Sensitive Strategies from PennyMac Mortgage Investment Trust involve investing in mortgage-backed securities with varying credit quality to optimize returns and manage risk.
Why we expect these perspectives ?
PennyMac Mortgage Investment Trust's 7.53% growth in Credit Sensitive Strategies is driven by increasing mortgage originations, strong demand for credit-sensitive products, and effective risk management. Additionally, the company's diversified investment portfolio, including distressed mortgage loans and mortgage-backed securities, contributes to its growth. Furthermore, PennyMac's expertise in mortgage servicing and its ability to capitalize on market opportunities also support its growth in this segment.
Segment n°2 -> Interest Rate Sensitive Strategies
Expected Growth : 4.55 %
What the company do ?
Interest Rate Sensitive Strategies from PennyMac Mortgage Investment Trust involves hedging and investing in mortgage-backed securities to manage interest rate risk and generate returns.
Why we expect these perspectives ?
PennyMac Mortgage Investment Trust's 4.55% growth in Interest Rate Sensitive Strategies is driven by increasing mortgage servicing rights, expansion of correspondent lending, and growth in mortgage-backed securities. Additionally, the company's ability to effectively manage its hedge portfolio and optimize its funding costs also contribute to its growth.
Segment n°3 -> Correspondent Production
Expected Growth : 7.05 %
What the company do ?
Correspondent Production from PennyMac Mortgage Investment Trust refers to the process of originating and selling mortgage loans to PennyMac, which then securitizes and sells them to investors.
Why we expect these perspectives ?
PennyMac Mortgage Investment Trust's Correspondent Production growth of 7.05% is driven by increasing demand for mortgage loans, expansion into new markets, and strategic partnerships. Additionally, the company's efficient operations, strong relationships with mortgage bankers, and favorable interest rate environment have contributed to this growth.
Segment n°4 -> Corporate
Expected Growth : 7.03 %
What the company do ?
PennyMac Mortgage Investment Trust is a specialty finance company that invests in and manages a portfolio of mortgage-related assets.
Why we expect these perspectives ?
PennyMac Mortgage Investment Trust's 7.03% growth is driven by increasing mortgage originations, expansion into new markets, and strategic investments in mortgage servicing rights. Additionally, the company's diversified investment portfolio, strong risk management, and efficient cost structure contribute to its growth. Furthermore, the low interest rate environment and government support for the housing market also boost the company's growth prospects.
Pennymac Mortgage Investment Trust Products
| Product Range | What is it ? |
|---|---|
| Government Sponsored Enterprise (GSE) Securities | PennyMac Mortgage Investment Trust invests in mortgage-backed securities (MBS) issued by government-sponsored enterprises (GSEs) such as Fannie Mae and Freddie Mac. |
| Agency Mortgage-Backed Securities (MBS) | PennyMac Mortgage Investment Trust invests in mortgage-backed securities issued by government agencies such as Ginnie Mae, Fannie Mae, and Freddie Mac. |
| Non-Agency Mortgage-Backed Securities (MBS) | PennyMac Mortgage Investment Trust invests in mortgage-backed securities issued by private companies, not backed by the US government. |
| Whole Loans | PennyMac Mortgage Investment Trust purchases and holds whole loans, which are individual mortgage loans not securitized into MBS. |
| Mortgage Servicing Rights (MSR) | PennyMac Mortgage Investment Trust acquires and manages mortgage servicing rights, which are the rights to service mortgage loans. |
PennyMac Mortgage Investment Trust's Porter Forces
Threat Of Substitutes
PennyMac Mortgage Investment Trust operates in a highly competitive industry, and borrowers have various options to choose from. However, the company's strong brand reputation and diversified product offerings mitigate the threat of substitutes.
Bargaining Power Of Customers
PennyMac Mortgage Investment Trust's customers are primarily institutional investors and individual investors, who have limited bargaining power due to the company's strong market position and diversified product offerings.
Bargaining Power Of Suppliers
PennyMac Mortgage Investment Trust relies on various suppliers, including mortgage originators, servicers, and other vendors. While suppliers have some bargaining power, the company's scale and diversified supply chain mitigate this risk.
Threat Of New Entrants
The mortgage investment trust industry has high barriers to entry, including regulatory requirements, capital requirements, and the need for specialized expertise. This limits the threat of new entrants.
Intensity Of Rivalry
The mortgage investment trust industry is highly competitive, with many established players competing for market share. PennyMac Mortgage Investment Trust faces intense competition from other mortgage REITs, banks, and non-bank lenders.
Strength
Capital Structure
| Value | |
|---|---|
| Debt Weight | 84.25% |
| Debt Cost | 8.60% |
| Equity Weight | 15.75% |
| Equity Cost | 11.05% |
| WACC | 8.99% |
| Leverage | 535.10% |
PennyMac Mortgage Investment Trust : Quality Control
PennyMac Mortgage Investment Trust passed 3 out of 9 key points:
Historical Valuation
Price/Earnings Ratio
Margin Valuation
Peers Valuation
Competitors
| Company | Rational |
|---|---|
| MITT | AG Mortgage Investment Trust, Inc. operates as a residential mortgage real estate investment trust in the United States. Its investment portfolio comprises residential investments, including non-qualifying mortgages loans, government-sponsored entity … |
| AOMR | Angel Oak Mortgage, Inc., a real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage … |
| REFI | Chicago Atlantic Real Estate Finance, Inc. operates as a commercial real estate finance company in the United States. It originates, structures, and invests in first mortgage loans and alternative structured … |
| SEVN | Seven Hills Realty Trust, a real estate investment trust, focuses on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate in the United … |
| LFT | Lument Finance Trust, Inc., a real estate investment trust, focuses on investing in, financing, and managing a portfolio of commercial real estate (CRE) debt investments in the United States. The … |
Peers Metrics
DCF BETA
Expected Cash-Flows
Scoring Insights
Peers Group Analysis
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