PennyMac Mortgage Investment ( (PMT) ) has released its Q4 earnings. Here is a breakdown of the information PennyMac Mortgage Investment presented to its investors.
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PennyMac Mortgage Investment Trust, a mortgage real estate investment trust, specializes in residential mortgage loans and mortgage-related assets. In the fourth quarter of 2024, PennyMac Mortgage Investment Trust reported a net income of $36.1 million, equating to $0.41 per share, on a net investment income of $107.9 million. The company announced a cash dividend of $0.40 per share, maintaining its commitment to shareholder returns. The company’s net income attributable to common shareholders was bolstered by strong income levels, excluding market-driven value changes, leading to a 10% annual return on average common equity. The book value per share slightly increased to $15.87. A notable highlight was the company’s correspondent loan production volume, which amounted to $3.5 billion, resulting in $60 million in new mortgage servicing rights. Additionally, the company closed two agency-eligible investor loan securitizations with a combined unpaid principal balance of $822 million, contributing $52 million in net new investments in non-agency subordinate bonds. As PennyMac Mortgage Investment Trust looks forward, the management remains optimistic, anticipating a consistent issuance of private label securitizations and continued strong performance across its investment strategies, aiming to deliver attractive risk-adjusted returns in 2025 and beyond.
