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PMT

PennyMac Mortgage Investment Trust

PMT

PennyMac Mortgage Investment Trust • NYSE
$12.84 ▼ -0.62% (-0.08)
Market Cap $1.12 B
52w High $14.93
52w Low $11.60
Dividend Yield 1.60%
P/E 13.96
Volume 507.68K
Outstanding Shares 87.02M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $62.147M ▲ $62.147M ▲ $58.296M ▲ 93.803% ▼ $0.55 ▲ $0 ▼
Q2-2025 $5.127M ▼ $2.836M ▼ $7.534M ▼ 146.948% ▲ $-0.036 ▼ $222.155M ▲
Q1-2025 $189.055M ▼ $16.964M ▲ $9.68M ▼ 5.12% ▼ $-0.009 ▼ $0 ▼
Q4-2024 $256.305M ▼ $997K ▼ $46.535M ▲ 18.156% ▲ $0.41 ▲ $148.977M ▲
Q3-2024 $265.782M $11.093M $41.407M 15.579% $0.36 $0

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $263.488M ▼ $18.526B ▲ $16.646B ▲ $1.879B ▲
Q2-2025 $1.536B ▼ $16.801B ▲ $14.935B ▲ $1.866B ▼
Q1-2025 $1.54B ▼ $14.876B ▲ $12.974B ▲ $1.903B ▼
Q4-2024 $1.552B ▼ $14.409B ▲ $12.47B ▲ $1.938B ▲
Q3-2024 $1.583B $13.056B $11.119B $1.937B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $0 ▼ $0 ▲ $0 ▼ $0 ▼ $0 ▼ $0 ▲
Q2-2025 $7.534M ▼ $-2.016B ▼ $272.916M ▲ $1.858B ▲ $114.959M ▲ $-2.016B ▼
Q1-2025 $9.68M ▼ $-594.267M ▲ $40.228M ▼ $464.286M ▼ $-89.753M ▼ $-594.267M ▲
Q4-2024 $45.959M ▲ $-1.621B ▼ $282.047M ▼ $1.332B ▲ $-6.664M ▼ $-1.622B ▼
Q3-2024 $41.301M $-983.81M $314.868M $882.566M $213.624M $-985.307M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Correspondent Production
Correspondent Production
 $30.00M ▲$50.00M ▲$20.00M ▼$30.00M ▲
Credit Sensitive Strategies
Credit Sensitive Strategies
 $30.00M ▲$80.00M ▲$0 ▼$20.00M ▲
Interest Rate Sensitive Strategies
Interest Rate Sensitive Strategies
 $30.00M ▲$50.00M ▲$20.00M ▼$20.00M ▲
Corporate Segment
Corporate Segment
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement PennyMac Mortgage Investment Trust’s earnings pattern reflects how sensitive a mortgage REIT is to interest rates and market swings. Results over the past several years have been uneven: strong profitability during the earlier part of the decade, a setback in the middle, and then a return to positive, but not spectacular, net income more recently. That volatility suggests that a meaningful portion of results is driven by valuation changes on mortgage assets and hedges, not just steady fee or interest income. Overall, the business has shown an ability to stay profitable over the cycle, but with bumps along the way and a clear dependence on market conditions rather than smooth, predictable growth.

Balance Sheet

Balance Sheet The balance sheet shows a classic mortgage REIT profile: a relatively small equity base supporting a much larger pool of mortgage-related assets, funded primarily with debt. Assets have trended higher over time, suggesting growth in the investment portfolio. Debt levels are high relative to equity, which is normal for this model but still a key risk point if funding markets tighten or asset values fall. Cash on hand tends to be modest outside of occasional spikes, so the trust relies heavily on ongoing access to secured borrowing and capital markets. The structure can work well in stable markets but leaves limited room for error in stressed environments.

Cash Flow

Cash Flow Cash flow has swung sharply from year to year, alternating between strong inflows and sizable outflows. This is typical for a firm that frequently buys, sells, and securitizes mortgage assets rather than running a simple, steady loan book. Operating cash flow and free cash flow move almost in lockstep, because the business does not need much spending on physical assets or equipment. Instead, swings reflect changes in collateral, hedging, and financing activity. The pattern underlines that reported earnings and actual cash movement can differ meaningfully from period to period, and that short-term cash flow can be lumpy even when the underlying platform remains intact.

Competitive Edge

Competitive Edge PennyMac Mortgage Investment Trust benefits from a distinctive partnership with PennyMac Financial Services, one of the largest mortgage originators and servicers in the U.S. This relationship gives PMT a built-in pipeline of loans, servicing rights, and credit-risk investments that many rivals must buy in the open market. That internal sourcing can mean better control over loan quality, pricing, and scale. The trust has also built depth in specialized areas like credit‑risk transfer, mortgage servicing rights, and private label securitizations, where expertise and infrastructure create barriers for smaller or less integrated competitors. The flip side is dependency: PMT’s edge is closely tied to the health, strategy, and technology of its external manager and servicer.

Innovation and R&D

Innovation and R&D For a real estate investment trust, PMT is relatively advanced on the technology and product innovation front. It leverages sophisticated loan origination and servicing platforms, including new systems that use automation and data analytics to speed up underwriting, improve loan quality, and refine risk management. The trust also uses complex analytics and hedging tools to manage the interest rate and prepayment risks in its large servicing and credit‑risk portfolios. On the product side, it has moved beyond plain‑vanilla mortgages into areas like credit‑risk transfer structures, private label securitizations, and non‑traditional mortgage products. All of this points to a strategy focused on using technology and structuring know‑how to squeeze more value out of a large and diversified mortgage flow, rather than simply competing on balance sheet size alone.

Summary

Overall, PennyMac Mortgage Investment Trust is a specialized, technology‑enabled mortgage REIT built around a deep partnership with a major originator and servicer. Its strengths lie in proprietary deal flow, sophisticated risk tools, and expertise in niche mortgage credit products. At the same time, its business is highly exposed to interest rate shifts, mortgage market cycles, and the reliability of short‑term funding, which shows up in volatile earnings and cash flow. The balance sheet is deliberately leveraged, amplifying both upside and downside. Future performance will hinge on how well the trust continues to harness its technology platform and structured products capability while navigating a complex rate, credit, and regulatory environment.

NEWS

November 13, 2025 · 8:00 AM UTC

PennyMac Mortgage Investment Trust Declares Fourth Quarter 2025 Dividends for Its Preferred Shares

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October 21, 2025 · 4:15 PM UTC

PennyMac Mortgage Investment Trust Reports Third Quarter 2025 Results

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October 6, 2025 · 4:15 PM UTC

Pennymac Announces Organizational Changes

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September 17, 2025 · 8:00 AM UTC

PennyMac Mortgage Investment Trust Declares Third Quarter 2025 Dividend for Its Common Shares

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September 15, 2025 · 5:00 PM UTC

Patriot Battery Metals Announces Proposed Name Change to PMET RESOURCES

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