Advertisement
Advertisement
U.S. Markets open in 41 mins
Advertisement
Advertisement
Advertisement
Advertisement

PennyMac Mortgage Investment Trust (PMT-PC)

NYSE - NYSE Delayed Price. Currency in USD
Add to watchlist
17.27+0.16 (+0.94%)
At close: 04:00PM EDT
Advertisement

Yahoo Finance will soon be upgrading our Conversations message board platform to provide a better experience for our users. Only comments published since April 21, 2021 will be visible on Yahoo Finance after the upgrade. If you wish to download and save any of your older comments, please submit a request via the Privacy Dashboard by no later than Sept. 30.

Sign in to post a message.
  • T
    Torniojaws
    +8 % out of nowhere? Anyone heard some news?
  • H
    Hattori
    How often does $PMT pay dividends? Anyone know when the next div payment is going to be?
    Neutral
  • J
    Joe
    This company keeps losing $$$$$ how are they still in business.
  • C
    Coach Bodie
    Nice Dividend Today!
    Bullish
  • J
    Joe
    They had another BIG loss for the quarter the dividend should be gone soon. LOL
  • R
    ROBERT
    Went to Penny website and read their March 16 comments to investors. I was an Accountant but even with that background, it's a tough read. Penny is a specialized finance company and getting a grasp on their business model is not easy for someone not in that business. However after 2 reads, I did end with greater confidence about its continuing earnings potential. With that, of course, comes dividends.
  • K
    King
    PennyMac Mortgage Investment Trust (NYSE: PMT) today reported net income attributable to common shareholders of $458.4 million, or $4.51 per common share on a diluted basis for the second quarter of 2020, on net investment income of $558.3 million. PMT previously announced a cash dividend for the second quarter of 2020 of $0.40 per common share of beneficial interest, which was declared on June 19, 2020 and paid on July 30, 2020 to common shareholders of record as of July 15, 2020.

    Second Quarter 2020 Highlights

    Financial results:

    Net income attributable to common shareholders of $458.4 million, up from a net loss attributable to common shareholders of $600.9 million in the prior quarter
    Driven by record Correspondent Production segment results and partial recovery in the fair value of government-sponsored enterprised (GSE) credit risk transfer (CRT) investments from depressed levels at March 31, 2020 as a result of market dislocations related to COVID-19
    ‒ Partially offset by fair value losses on mortgage servicing rights (MSR) as a result of higher than anticipated prepayments during the quarter and expectations for higher prepayments in the future driven by lower rates, and losses on interest rate hedges driven by elevated hedge costs and fair value losses on options used to hedge MSRs as volatility decreased by June 30, 2020
    Book value per common share of $19.39 at June 30, 2020, up from $15.16 at March 31, 2020
  • J
    Jim
    True Inflation Rate 15.15 %

    The inflation rate calculation used before the mid 80's reported true inflation. Since inflation and unemployment were too high and the FED couldn't lower interest rates due to high ongoing inflation, the federal government changed many inflation components to try to hide the true rate of inflation so that they could then lower interest rates and get the sluggish economy moving. One component that was hidden was housing prices. They substituted estimated rent and some recent rent rather than housing prices. Last year housing prices went up about 20 something % while the rent component went up 2%. Housing prices makes up 30% of the CPI so we had inflation of 15.15 % based on methodology used in the 80's to calculate inflation.
    John Williams, founder of Shadow Stats who calculates the inflation rate using methodology the U.S. government used in the 1980s before revisions, estimated that the current rate of inflation is already 15.15 %, much higher than the 7.04 % that the Bureau of Labor Statistics reported. True inflation is rivaling the 1970's and 1980's inflation when the FED was fighting inflation vigorously. Many of the other economic indicators have also been changed to hide the truth.
    I lived through 81 years, much of it watching the economy, of economic data and this does not feel even close to what the government is reporting.
    Also, when there was similar true inflation in the 70’s and 80’s, there was a point when 30 year T-bonds interest rates were at about 15% and some corporate bonds paid higher. If the FED was setting interest rates as they did then, the bond market would crash and we would see a depression greater than the 1930’s. The FED should be abolished and the Federal Government laws should be changed to not allow spending more than income. Modern Monetary Theory does not work. The more you print the higher inflation goes.
    Don’t fall into the trap. If the FED was operating truly based on 15.15 % inflation, we would already be in a recession but they think that they have you fooled. The FED has printed themselves into a corner. If they raise rates as high as it should be to fight 15.15 % inflation, the interest on the national debt would cause the U.S. government great stress.

    Analyst are worried about the 10 year treasury going to 2%. True inflation of 15.15% minus 2% is a negative interest rate of 13.15%. Is anyone awake out there?
  • g
    george
    I am new at purchasing stocks that pay dividends. I purchased PMT. Did it for long term, good move?
  • J
    Jackie
    PMT has a book value of 19.90, so it looks like it can maintain paying their .47 div for quite a while. It has been paying that for several years and it probably will continue until it's earnings recover above that amount. It would have reduced the div this quarter if they had a mind to, but they left it at .47. I expected them to do so, but they surprized me. I'm glad I got long before they announced the div. Based on management being able to make this turnaround I;ll be buying more. Where can you get such a great return?
  • K
    King
    Credit Suisse Lifts PT on PennyMac Mortgage Investment to $22 From $19 on Strong Origination Results, Improved Liquidity Outlook; Maintains Outperform
  • K
    King
    Solid report-----------------------

    WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- PennyMac Mortgage Investment Trust ( PMT
    Loading...
    Loading...
    ) today reported a net loss attributable to common shareholders of $600.9 million, or $5.99 per common share for the first quarter of 2020, on net investment losses of $506.5 million. PMT previously announced a cash dividend for the first quarter of 2020 of $0.25 per common share of beneficial interest, which was declared on March 25, 2020 and paid on April 30, 2020 to common shareholders of record as of April 15, 2020.

    First Quarter 2020 Highlights

    Financial results:

    Net loss attributable to common shareholders of $600.9 million, versus net income attributable to common shareholders of $52.4 million in the prior quarter
    Driven by non-cash fair value losses on government-sponsored enterprise (GSE) credit risk transfer (CRT) investments related to the COVID-19 crisis, partially offset by outsized results in the interest rate sensitive strategies segment resulting from substantial gains on interest rate hedge instruments and record correspondent production results
    Book value per common share of $15.16 at March 31, 2019, down from $21.37 at December 31, 2019
    Other investment and financing highlights:

    Investment activity driven by strong correspondent production volumes
    Conventional correspondent loan production totaled $18.0 billion in unpaid principal balance (UPB), down 20 percent from the prior quarter and up 100 percent from the first quarter of 2019
    CRT deliveries totaled $14.7 billion in UPB, resulting in a firm commitment to purchase $555 million of CRT securities
    Added $249 million of new mortgage servicing rights (MSR) investments
    Raised $5.6 million in February through the “At-The-Market” equity program, issuing 241,000 shares at a weighted average price of $23.46; repurchased approximately 783,000 PMT common shares in March at a weighted average price of $7.39, or a total cost of $5.8 million
    Notable activity after quarter end:

    Retired the 5.375% senior exchangeable unsecured notes due May 1, 2020
    Repurchased $123.6 million in principal of the notes at a weighted average price of 98.6 percent of par value, resulting in total savings of approximately $2.2 million
    Repaid the remaining $126.4 million in principal of the notes on the maturity date (May 1)
    “PMT’s financial results in the first quarter reflected the extreme market dislocations resulting from the COVID-19 crisis and were driven by non-cash fair value losses on CRT investments partially offset by outstanding performance from the interest rate sensitive strategies and correspondent production,” said President and CEO David Spector. “We believe that the fair value losses recognized on our CRT investments in the first quarter are outsized compared to the additional losses from borrower defaults that we expect to incur over the life of these investments. Furthermore, PFSI, PMT’s manager and subservicer, is well-positioned to refinance qualifying borrowers and successfully manage forbearance and other assistance programs to reduce the likelihood of borrower default and ultimate credit losses.”

    Mr. Spector continued, “We believe that PMT’s performance during this crisis and the strength of PMT’s liquidity and capital position are the direct result of our manager’s steadfast focus on risk management, including interest rate, credit and operational risk disciplines, throughout our more than 10-year history. Unlike other market participants, PMT has not sold any assets to raise liquidity; and as a result of the innovative term financing structure we put in place, PMT has not been subject to margin calls for its CRT investments. While we have curtailed new investments in CRT, recent market dislocations have expanded the opportunity for PMT as certain competitors have limited or reduced their participation in what was already a capacity constrained industry. Looking ahead, we expect improved financial performance and are confident in the return potential of PMT’s investment strategies.”
  • T
    Torniojaws
    February 2 will be quite critical. Any thoughts on what to expect? I don't think the share and div can take a third big miss in a row, so I'm definitely holding off my buys until the next earnings.
  • D
    Driftwood
    back to .40 per share on the dividend. should be a nice pop on Monday. just wish I could afford more.
  • A
    Anonymous
    In today at $9.43. BV is much higher. Will get paid fat dividends while I wait. mREITs are quite complex, but good investments if played well.
  • D
    DoubleM
    Latest news: Treasury Secretary Steven Mnuchin said in an interview late Thursday that the Trump administration has no plans to fund a Federal Reserve credit facility to finance MBS servicers impacted by COVID-19-related forbearances. The Treasury Department has not yet confirmed the story, first reported in a tweet by Bloomberg’s Saleha Mohsin.
    The situation at press time: Mnuchin told Bloomberg that a Fed facility was no longer warranted, given the recent efforts by Ginnie Mae and the Federal Housing Finance Agency to ease the industry’s liquidity concerns.
    The Ginnie Mae PTAP facility, announced earlier this month, will provide financing on servicers’ principal and interest advances. (Already, at least three Ginnie MBS servicers have used PTAP for assistance.)
    Over at the FHFA, the regulator/conservator this week announced that servicers of Fannie Mae and Freddie Mac loans will only be responsible for bond advances for 120 days. In addition, servicers are permitted to make interest-only advances.
    What does the mortgage industry make of this latest development from Treasury? In a note released Friday morning, Keefe, Bruyette & Woods Managing Director Bose George appeared to minimize the impact of the administration’s stance: “While we would expect the shares of mortgage servicers to be weak, we believe that large servicers (including the companies in our coverage universe) have the liquidity to withstand a fairly large increase in forbearances and/or delinquencies.”
    Indeed, in the afternoon the share price of nonbank bellwethers PennyMac Financial and Mr. Cooper was down slightly.
    However, George did hedge that optimism slightly, noting that, if conditions in the mortgage industry deteriorate significantly, he expects Treasury and the Fed to “revisit this issue.”
  • J
    Joe
    Why is this stock at $13.50 and not$3.50 it’s been loosing money for over 4 quarters now. This quarter will be even bigger loss. Good luck longs
  • G
    Gordon
    From the outside, I have no idea what's going on with PMT. It's been so solid over the last few years. Either it's going to go out of business or it's priced insanely low and this is a huge buying opportunity. I wish I knew which one!
  • K
    Keith
    I've held PMT for years and you'd be hard pressed to find a better yield in this space. I view this stock as more of a CEF than a single equity position. The daily price fluctuation don't even register on my radar as the yield has been very consistent over the years.
  • S
    S
    buying at 17.5
    Bullish
Advertisement
Advertisement