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PMTPennyMac Mortgage Investment Trust
$10.90$948M
Overview & Verdict
Overview
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PMT logoPennyMac Mortgage Investment Trust(PMT)Earnings, Financials & Key Ratios

PMT•NYSE•REIT / Real Estate
$10.90
11.0× P/E·Price updated Jul 6, 2026
SectorReal EstateIndustryMortgage REITsSub-IndustryMortgage servicing rights focused REITs
AboutPennyMac 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.Show more
  • Revenue$1.03B+103.8%
  • FFO$128M-20.6%
  • FFO/Share1.47-20.7%
  • FFO Payout108.99%+26.0%
  • FFO per Share1.47-20.7%
  • NOI Margin15.37%-79.6%
  • FFO Margin12.43%-61.0%
  • ROE6.68%-19.1%
  • ROA0.72%-38.9%

PMT Price & Volume

PennyMac Mortgage Investment Trust (PMT) stock price & volume — 10-year historical chart

Loading chart...

Extreme Earnings Volatility Masks Structural Leverage Risks

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Mixed
Profitability:Strained
Financial:Vulnerable
Cash Flow:Deteriorating
Primary Risk:Excessive leverage and volatility

Key Thesis Takeaways

  • PennyMac Mortgage Investment Trust faces significant fundamental headwinds driven by extreme revenue fluctuations and a highly aggressive capital structure that limits strategic flexibility.
  • While the company maintains a substantial asset base of $22.5 billion, the reliance on subjective fair-value adjustments for MSRs and CRT assets creates persistent uncertainty regarding sustainable distributable earnings.
  • Investors should remain cautious as the firm struggles to maintain consistent dividend coverage, evidenced by payout ratios that have historically exceeded 100% of AFFO.

Verdict Logic

the company's inability to generate consistent cash flow, highlighted by a $2.5 billion operating cash outflow in 2026Q1, combined with excessive leverage, presents an unfavorable risk-reward profile for long-term investors.

PMT Growth Metrics

PennyMac Mortgage Investment Trust (PMT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years13.4%
5 Years-6.09%
3 Years-
TTM61.81%

Profit CAGR

10 Years3.56%
5 Years19.55%
3 Years-
TTM7.56%

EPS CAGR

10 Years-1.57%
5 Years29.67%
3 Years-
TTM25.11%

Return on Capital

10 Years4.85%
5 Years2.61%
3 Years4.56%
Last Year0.9%

PMT Recent Earnings

PennyMac Mortgage Investment Trust (PMT) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 3/12 qtrs (25%)
Q2 2026Latest
May 5, 2026
Metric
Actual
Est
EPS
$0.16-55.6%
$0.36
Rev
$82M-11.6%
$93M
Q1 2026
Jan 29, 2026
Metric
Actual
Est
EPS
$0.48+17.1%
$0.41
Rev
$94M-5.0%
$98M
Q4 2025
Oct 21, 2025
Metric
Actual
Est
EPS
$0.55+52.8%
$0.36
Rev
$62M-36.5%
$98M
Q3 2025
Jul 22, 2025
Metric
Actual
Est
EPS
$0.04-111.4%
$0.35
Rev
$5M-94.7%
$98M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 5, 2026
$0.16vs $0.36-55.6%
$82Mvs $93M-11.6%
Q1 2026Jan 29, 2026
$0.48vs $0.41+17.1%
$94Mvs $98M-5.0%
Q4 2025Oct 21, 2025
$0.55vs $0.36+52.8%
$62Mvs $98M-36.5%
Q3 2025Jul 22, 2025
$0.04vs $0.35-111.4%
$5Mvs $98M-94.7%
Based on last 12 quarters of dataView full earnings history →

Latest PMT News

Recent stock market news and headlines for PennyMac Mortgage Investment Trust (PMT)

Business Wire·Jun 17, 2026
PennyMac Mortgage Investment Trust Declares Second Quarter 2026 Dividend for Its Common Shares

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees declared a cash dividend of $0.40 per common share of beneficial interest for the second quarter of 2026. This dividend will be paid on July 24, 2026, to common shareholders of record as of July 9, 2026. About PennyMac Mortgage Investment Trust PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residentia.

Business Wire·Jun 16, 2026
PennyMac Mortgage Investment Trust Announces Scott Sauer Joined Its Board of Trustees

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today the appointment of Scott Sauer to its Board of Trustees. Mr. Sauer brings more than three decades of sophisticated financial sector experience to the role. "Scott's extensive background steering large-scale institutional financial leadership will bring a valuable perspective to PMT," said David Spector, Chairman and CEO at PMT. "We are pleased to welcome him to the Board of Trustees where h.

Business Wire·Jun 15, 2026
KBRA Assigns Preliminary Ratings to PMT Loan Trust 2026-INV6 (PMTLT 2026-INV6)

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns preliminary ratings to 74 classes of mortgage-backed notes from PMT Loan Trust 2026-INV6 (PMTLT 2026-INV6), a prime RMBS transaction sponsored by PennyMac Corp. (PennyMac), an indirect, wholly-owned subsidiary of PennyMac Mortgage Investment Trust (PMT). PMTLT 2026-INV6 comprises 1,123 fixed-rate mortgages (FRMs) with an aggregate principal balance of $423.2 million as of the June 1, 2026 cut-off date. The underlying pool consists of agency-eligible loans.

Peers Comparison

Key metrics vs top competitors for PennyMac Mortgage Investment Trust (PMT)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
PMT logoPMTPennyMac Mortgage Investment TrustCurrent
$10.90$948.48M11.01103.82%12.43%6.68%14.7%
MFA logoMFAMFA Financial, Inc.
$9.33$952.54M5.55213.02%20.7%7.43%—
MITT logoMITTTPG Mortgage Investment Trust Inc
$7.75$245.95M8.6114.4%6.82%6.11%—
EARN logoEARNEllington Credit Company
$4.39$164.93M-11.55-15.99%-14.73%-2.76%—
CIM logoCIMChimera Investment Corporation
$13.15$1.1B4.78218.22%2.72%0.75%—
IVR logoIVRInvesco Mortgage Capital Inc.
$7.87$563.83M5.963.17%22%7.84%—

Compare PMT vs Peers

PennyMac Mortgage Investment Trust (PMT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MFA

Most directly comparable listed peer for PMT.

Scale Benchmark

vs RKT

Larger-name benchmark to compare PMT against a more recognizable public peer.

Peer Set

Compare Top 5

vs MFA, MITT, EARN, CIM

PMT SEC Filings & Documents

PennyMac Mortgage Investment Trust (PMT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 5, 2026·SEC

Material company update

Jan 29, 2026·SEC

Material company update

Dec 22, 2025·SEC

10-K Annual Reports

3
FY 2026

Feb 18, 2026·SEC

FY 2025

Feb 20, 2025·SEC

FY 2024

Feb 22, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 5, 2026·SEC

FY 2025

Oct 29, 2025·SEC

FY 2025

Jul 30, 2025·SEC

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PMT Frequently Asked Questions

PennyMac Mortgage Investment Trust (PMT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is PennyMac Mortgage Investment Trust's revenue?

PennyMac Mortgage Investment Trust (PMT) reported $957.0M in revenue for fiscal year 2025. This represents a 2606% increase from $35.4M in 2010.

How fast is PennyMac Mortgage Investment Trust growing?

PennyMac Mortgage Investment Trust (PMT) grew revenue by 103.8% over the past year. This is strong growth.

Is PMT profitable?

Yes, PennyMac Mortgage Investment Trust (PMT) is profitable, generating $132.4M in net income for fiscal year 2025 (12.4% net margin).

Dividend & Returns
Does PMT pay dividends?

Yes, PennyMac Mortgage Investment Trust (PMT) pays a dividend with a yield of 14.70%. This makes it attractive for income-focused investors.

What is PMT's return on equity?

PennyMac Mortgage Investment Trust (PMT) has a return on equity (ROE) of 6.7%. This is below average, suggesting room for improvement.

Industry Metrics
What is PennyMac Mortgage Investment Trust's FFO?

PennyMac Mortgage Investment Trust (PMT) generated Funds From Operations (FFO) of $76.0M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Is PMT a good dividend stock?

PennyMac Mortgage Investment Trust (PMT) offers a 14.70% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

What if you invested $1,000 in PMT back in 2010?

Total return calculator · dividends reinvested · 16+ years of data

See returns →