PennyMac Mortgage Investment ( (PMT) ) has released its Q1 earnings. Here is a breakdown of the information PennyMac Mortgage Investment presented to its investors.
PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that primarily invests in residential mortgage loans and mortgage-related assets. The company is managed externally by PNMAC Capital Management, LLC, a subsidiary of PennyMac Financial Services, Inc.
In the first quarter of 2025, PennyMac Mortgage Investment Trust reported a net loss attributable to common shareholders of $0.8 million, or $(0.01) per common share, on net investment income of $44.5 million. The company declared a cash dividend of $0.40 per common share for the quarter.
Key financial metrics for the quarter included a decrease in book value per common share to $15.43 from $15.87 at the end of 2024. Correspondent loan production volumes totaled $2.8 billion, a 20% decrease from the previous quarter. The company also issued $173 million in senior unsecured notes and retired $45 million in credit risk transfer term notes.
PennyMac Mortgage Investment Trust’s strategic activities included closing three Agency-eligible investor loan securitizations with a combined unpaid principal balance of $1.0 billion and generating $66 million in net new investments in non-Agency subordinate bonds. The company also highlighted its strong access to capital markets and its ability to manage through challenging market conditions.
Looking ahead, the management remains confident in navigating the volatile interest rate environment, leveraging its expertise in risk management and strategic partnerships to adapt to market changes. The company’s seasoned management team is well-positioned to handle the rapidly changing financial landscape.