Wed, Nov. 4, 4:59 PM
Tue, Nov. 3, 5:35 PM
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Thu, Aug. 6, 10:13 AM
- Q2 net income of $28M or $0.36 per share vs. $7.5M and $0.09 in Q1, and $75.2M and $0.93 one year ago.
- Net investment income of $69.8M vs. $37.7M in Q1, and $120.6M a year ago.
- Book value per share of $20.39 slipped from $20.68 at the end of Q1.
- Investment Activities Segment pretax income of $19.9M on revenue of $47M vs. pretax loss of $8.2M and $18.9M in Q1.
- Distressed mortgage portfolio generated gains of $30.1M, up from $17.2M in Q1.
- The MSR portfolio UPB grew to $37.1B vs. $35.2B. Net loan servicing fees of $13M vs. $8M.
- Correspondent Production Segment pretax income of $5.2M vs. $4.4M in Q1.
- Previously: PennyMac Mortgage misses by $0.13 (Aug. 5)
- PMT -9.3%
Wed, Aug. 5, 4:44 PM
Thu, May 7, 8:38 AM
- Q1 net income of $7.5M or $0.09 per share down more than 70% from Q4. Pretax loss of $3.8M vs. income of $11.9M in Q4.
- Net investment income of $37.7M down 29%.
- Book value per share of $20.68 slips from $21.18.
- Investment Activities Segment pretax loss of $8.2M on revenue of $18.9M vs. a gain of $11M on revenue of $38.8M in Q4. Valuation loss of $13.7M on MBS holdings. Net servicing fees of $8M down from $11.2M thanks to MSR valuation losses as rates dropped.
- Distressed Mortgage Investments gains of $17.2M vs. $20.7M in Q4. The NPL portfolio had fewer loans transitioning from severely delinquent to foreclosure, and fewer loans transitioning into reperformance.
- Previously: PennyMac Mortgage reports Q1 results (May 6)
- PMT -1.6%
Wed, May 6, 4:39 PM
Wed, Feb. 4, 5:08 PM
- Q4 net investment income of $53.1M vs. $106.5M in Q3, with net gain on investments of $11.2M vs. $70.4M. Net income of $26.5M vs. $54.9M. EPS of $0.34 vs. $0.69. Dividend is $0.61.
- Book value per share of $21.18 vs. $21.42 at end of Q3.
- Investment Activities segment $11M pretax income on revenue of $38.8M vs. $55.1M and $86.4M in Q3.
- Distressed Mortgage Investments segment realized and unrealized gains of $20.7M vs. $81.3M in Q3. Portfolios of performing and nonperforming loans increased in value somewhat, but was more than offset by decrease in home prices and tempered expectations for the future.
- Mortgage servicing rights portfolio grew to $34.3B in UPB from $32.3B.
- Correspondent Production Segment pretax income of $900K vs. $2.8M in Q3, with revenue of $14.2M down 29%.
- Conference call is underway
- Previously: PennyMac Mortgage NII of $53.1M (Feb. 4)
- PMT -5.1% after hours
Wed, Feb. 4, 4:45 PM
Tue, Feb. 3, 5:35 PM
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Nov. 5, 2014, 4:36 PM
Aug. 7, 2014, 9:50 AM
- Q2 net investment income of $120.6M up 57% from Q1.
- Book value per share of $21.27 up from $20.88. Current price is $22.02.
- Investment Activities segment $70.9M of pretax income up from $33.1M in Q1.
- Distressed Mortgage Investments generated realized and unrealized gains of $73.6M, up from $39.9M.
- Mortgage Servicing Rights portfolio of $29.4B up from $27.3B. Net loan servicing revenue of $8.8M up from $7.4M.
- Correspondent Production segment pretax income of $2.4M down from $3.1M. Company acquired $7B in UPB of loans through its correspondent activities during quarter.
- Conference call at 10:30 ET
- Previously: PennyMac Mortgage beats by $0.34
- PMT +4.1%
Aug. 6, 2014, 4:51 PM
May 7, 2014, 10:22 PM
- Net income of $37.9M or $0.50 per share is off 28% from Q4 on net investment income of $76.6M off 20%. Dividend of $0.59 per share.
- Book value per share of $20.88 up from $20.82 at the end of the 2013 after payment of dividend.
- CEO Stan Kurland: "The reduction in earnings for Q1 was driven by reduced income in PMT's correspondent lending business and lower gains in the distressed whole loan portfolio."
- Investment activities segment: $33.1M in pretax income on revenue of $64.3M vs. $48.4M and $78M in Q4. Net gain on investments of $42.6M off 11%. Net interest income of $19.6M is lower by $2.9M. Net loan servicing fees of $7.4M fell from $12.2M.
- Distressed mortgage investments: Distressed mortgage loan portfolio gains of $39.9M down from $50.6M. Company acquired $436M UPB of nonperforming whole loans and REO in Q1; has another $41M UPB under agreement and expected to settle in Q2.
- Correspondent lending segment: Pretax income of $3.1M falls from $6.3M on revenue of $12.3M, off 32%.
- Source: Press Release
- Previously: PennyMac Mortgage misses by $0.14
- PMT -3.7% AH
May 7, 2014, 4:39 PM
Feb. 5, 2014, 4:35 PM
Feb. 5, 2014, 12:10 AM
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PennyMac Mortgage Investment Trust is a real estate investment trust investing in residential mortgage loans and mortgage-related assets. The Company operates in two segments: correspondent production and investment activities.
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