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PennyMac Mortgage Investment Trust
PMT
NYSE·Real Estate·REIT - Mortgage·Mkt cap $979.3M
$10.81
▼ -3.74%
View full research view
Our plain-language verdict, the thesis, risk factors, and what is changing about the business.
View research view52-Week Range
$9.83 - $13.81
P/E
Fwd P/E
Beta
Div Yield
Avg Vol
Shares Out
Mkt Cap
Price action
Price chart
Down 15.1% over the trailing year
Total returns
Price performance
Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.
Why we rate it this way
The thesis at a glance
Bull and bear case · plain-English context across the five lenses we evaluate.
Bull Case
4 reasons
- Diversified mortgage asset portfolio reduces concentration risk and captures opportunities across credit and interest rate cycles
- Affiliation with PNMAC Capital Management provides operational expertise, market access, and loan origination capabilities
- REIT tax structure enables tax-efficient distribution of earnings while avoiding corporate-level taxation
- Sophisticated risk management and hedging capabilities across multiple mortgage-related asset classes
Bear Case
2 risks
- Average volatility.
- Growth premium of 1.2x vs Mortgage REITs peers. Reasonable for this growth rate.
Growth
Revenue decline expected
Mortgage servicing rights expansion as loan origination volumes increase
Value
Growth premium of 1.2x vs Mortgage REITs peers. Reasonable for this growth rate.
Momentum
Weak
-6.1% over 3m
Quality
Excellent
High-growth business (82% revenue growth, 64% gross margin). Profitable with strong growth momentum.
Dividend
High yield
14.25% yield
Smart-money signal
Who's buying PMT right now
Insider Form 4s, 13F institutional filings, and Congressional disclosures - at a glance.
Earnings track record
Recent earnings results
AI-summarized recap of last quarter, plus the surprise on every print.
Next: Apr 20, 2026
MAY 5, 2026
Reported EPS of $0.16 vs $0.36 consensus (-55.6% surprise). Revenue of $82.1M vs $92.9M expected (-11.6%).
EPS surprise · last 4Q
0 of 1 beats
Q2 26
-55.6%
Next: Apr 20, 2026
Revenue trend · last 8Q
—
—
-19%
+85%
-96%
-77%
+66%
+139%
Q2 24
Q3 24
Q4 24
Q1 25
Q2 25
Q3 25
Q4 25
Q1 26
$121.8M
$265.8M
$256.3M
$189.1M
$145.3M
$489.5M
$425.9M
$451.2M
Margins · last 8Q
Gross
—
Operating
—
Profit
5.5%
Wall Street consensus
3 analysts · 0% Buy
Live ratings and price targets aggregated across covering analysts.
Buy
0%
Hold
100%
Sell
0%
Median Price Target
$11.75
▲ +8.7% vs $10.81
Latest: Piper Sandler · $11.50 · May 26, 2026
2 analysts covering