PennyMac Mortgage Investment Trust PMT
PennyMac Mortgage Investment Trust (PMT) functions as a specialized financial firm, concentrating its investments primarily on mortgage-related assets within the United States. The company operates through several key divisions: Its Credit Sensitive Strategies segment channels capital into various instruments, including credit risk transfer (CRT) agreements and securities, distressed loans, real estate holdings, and non-agency subordinated bonds. The Interest Rate Sensitive Strategies segment focuses on investments such as mortgage servicing rights, excess servicing spreads, and both agency and senior non-agency mortgage-backed securities (MBS), while also undertaking related interest rate hedging activities. Through its Correspondent Production segment, PMT engages in the acquisition, pooling, and subsequent resale of newly originated prime credit residential loans, either directly or packaged as MBS. The trust is externally managed by PNMAC Capital Management, LLC. For federal income tax purposes, PennyMac Mortgage Investment Trust qualifies as a real estate investment trust (REIT). This status generally allows it to avoid federal corporate income taxes, provided it distributes at least 90% of its taxable income to its shareholders. PMT was founded in 2009 and has its headquarters situated in Westlake Village, California.
Snapshot
Reported FFO / AFFO / leverage are from the Q1 2026 earnings release (filed 2026-05-05) — 8-K, EX-99.1.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $1.74B | $127.87M | $0.00 | $93.82M | $-7.21B |
| 2024 | $504.60M | $160.98M | $0.00 | $1.03B | $-2.70B |
| 2023 | $725.87M | $199.65M | $110.00K | $1.28B | $1.34B |
| 2022 | $-145.66M | $-73.29M | $6.75M | $33.08M | $1.78B |
| 2021 | $757.48M | $56.85M | $0.00 | $688.32M | $-2.82B |
| 2020 | $1.41B | $52.37M | $0.00 | $1.29B | $671.66M |
Dividends
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-04-09 | 2026-04-09 | 2026-04-24 | 2026-03-11 | $0.40 | Quarterly |
| 2025-12-26 | 2025-12-26 | 2026-01-23 | 2025-12-10 | $0.40 | Irregular |
| 2025-10-10 | 2025-10-10 | 2025-10-24 | 2025-09-17 | $0.40 | Quarterly |
| 2025-07-11 | 2025-07-11 | 2025-07-25 | 2025-06-25 | $0.40 | Quarterly |
| 2025-04-11 | 2025-04-11 | 2025-04-25 | 2025-03-06 | $0.40 | Quarterly |
| 2024-12-27 | 2024-12-27 | 2025-01-24 | 2024-12-13 | $0.34 | Irregular |
| 2024-10-11 | 2024-10-11 | 2024-10-25 | 2024-09-19 | $0.40 | Quarterly |
| 2024-07-12 | 2024-07-12 | 2024-07-26 | 2024-06-13 | $0.40 | Quarterly |
| 2024-04-11 | 2024-04-12 | 2024-04-26 | 2024-03-21 | $0.40 | Quarterly |
| 2023-12-28 | 2023-12-29 | 2024-01-26 | 2023-12-06 | $0.40 | Quarterly |
| 2023-10-12 | 2023-10-13 | 2023-10-27 | 2023-08-31 | $0.40 | Quarterly |
| 2023-07-13 | 2023-07-14 | 2023-07-28 | 2023-06-09 | $0.40 | Quarterly |
| 2023-04-13 | 2023-04-14 | 2023-04-28 | 2023-03-15 | $0.40 | Quarterly |
| 2022-12-29 | 2022-12-30 | 2023-01-27 | 2022-12-07 | $0.40 | Quarterly |
| 2022-10-13 | 2022-10-14 | 2022-10-28 | 2022-09-21 | $0.47 | Quarterly |
| 2022-07-13 | 2022-07-14 | 2022-07-28 | 2022-06-02 | $0.47 | Quarterly |
| 2022-04-13 | 2022-04-15 | 2022-04-28 | 2022-03-04 | $0.47 | Quarterly |
| 2021-12-30 | 2021-12-31 | 2022-01-31 | 2021-12-07 | $0.47 | Quarterly |
| 2021-10-14 | 2021-10-15 | 2021-10-28 | 2021-09-21 | $0.47 | Quarterly |
| 2021-07-14 | 2021-07-15 | 2021-07-29 | 2021-06-23 | $0.47 | Quarterly |
| 2021-04-14 | 2021-04-15 | 2021-04-29 | 2021-03-24 | $0.47 | Quarterly |
| 2020-12-30 | 2020-12-31 | 2021-01-29 | 2020-12-18 | $0.47 | Quarterly |
| 2020-10-14 | 2020-10-15 | 2020-10-30 | 2020-09-23 | $0.40 | Quarterly |
| 2020-07-14 | 2020-07-15 | 2020-07-30 | 2020-06-19 | $0.40 | Quarterly |
Coverage (payout of operating cash flow): -1.93%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.