PMT
PennyMac Mortgage Investment Trust12.50
-0.15-1.19%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
1.09BP/E (TTM)
13.59Basic EPS (TTM)
0.92Dividend Yield
0.13%Recent Filings
8-K
10-Q
Q3 FY2025 results
PennyMac Mortgage Investment Trust posted solid Q3 FY2025 results, with net income climbing 41% year-over-year to $58.3 million, or $0.55 per diluted share, up from $0.36. Net investment income rose 23% to $99.2 million, fueled by a 162% surge in net loan servicing fees to $15.4 million after lighter MSR valuation hits, though CRT gains dipped 34% to $13.7 million amid wider credit spreads. Interest rate sensitive strategies drove the momentum, with MBS valuation gains of $37.6 million (down from $123.4 million y/y) but a $100.5 million swing in servicing fees; correspondent production edged lower on fewer nonaffiliate sales. Liquidity strengthened to $444.5 million in cash and shorts, while total debt hit $16.3 billion (8.7x equity), including $5.4 billion non-recourse VIE financing. Yet rising delinquencies in the MSR pool signal persistent credit pressures.
8-K
PMT Q3 earnings hit $0.55/share
PennyMac Mortgage Investment Trust reported Q3 2025 net income of $47.8 million, or $0.55 per share, delivering a 14% annualized return on common equity while book value per share rose to $15.16. Acquisitions surged to $4.6 billion in loan UPB, fueling $46 million in new MSRs and four securitizations totaling $1.5 billion UPB, with $195 million in GSE CRT sales freeing capital for higher-return private label assets. PMT expects EPS above the $0.40 dividend over the next year. Yet risks from interest rate shifts loom.
10-Q
Q2 FY2025 results
PennyMac Mortgage Investment Trust posted Q2 FY2025 net investment income of $70.2M, down slightly from $71.2M y/y, as MSR fair value losses widened to $75.1M from $50.6M amid interest rate volatility, though offset by $14.6M MBS gains versus $34.9M losses y/y and $20.3M CRT gains up from $16.6M. Correspondent production drove $17.8M in loan sale gains, up 46% y/y on $31.4B UPB acquired (derived), while net interest expense narrowed to $8.7M from $20.0M y/y on lower funding costs. Expenses climbed 25% to $53.2M, reflecting higher professional services and compensation. Cash stood at $362.9M with $5.2B repo availability; total debt hit $14.6B (7.8:1 debt/equity), including $2.7B secured notes. Ongoing litigation challenges preferred share dividend calculations under LIBOR rules.
8-K
PMT Q2 loss amid volatility
PennyMac Mortgage Investment Trust reported a Q2 2025 net loss of $2.9 million to common shareholders, or $(0.04) per share, driven by fair value declines from interest rate volatility and a $14 million non-recurring tax expense from state legislation changes. Yet core operations shone: correspondent production hit $3.1 billion in UPB for PMT's account, up 11%, fueling $44 million in new MSRs and four securitizations totaling $1.4 billion UPB with $150 million retained at attractive returns. PMT issued $105 million in senior notes maturing 2030, bolstering its balance sheet amid market turbulence. Book value dipped to $15.00 per share.
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