PennyMac Mortgage Investment Trust PMTU
PennyMac Mortgage Investment Trust operates as a financial firm primarily dedicated to acquiring and managing residential mortgage loans and various related financial instruments. Its operations are structured into four key divisions: Correspondent Production, Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Corporate Activities. The Correspondent Production division is responsible for purchasing, aggregating, and then distributing newly issued, high-credit-quality mortgage loans, either directly or as mortgage-backed securities in the capital markets. Within the Credit Sensitive Strategies segment, the company allocates capital to a diverse portfolio including financially troubled mortgage loans, properties obtained through mortgage loan settlements, real estate held for investment purposes, credit risk transfer instruments, junior non-agency bonds, and smaller balance commercial real estate mortgage loans. Conversely, the Interest Rate Sensitive Strategies segment concentrates on assets such as mortgage servicing rights, surplus servicing spreads, government-backed (agency) and top-tier non-agency mortgage-backed securities, alongside associated hedging activities to manage interest rate fluctuations. The Corporate Activities segment encompasses management fees, general corporate expenditures, and specific interest income streams. Stanford L. Kurland established the trust on May 18, 2009, and its headquarters are 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. |
|---|---|---|---|---|---|
| 2026-06-15 | 2026-06-15 | 2026-06-30 | — | $0.53 | Quarterly |
| 2026-03-13 | 2026-03-13 | 2026-03-30 | — | $0.53 | Quarterly |
| 2025-12-15 | 2025-12-15 | 2025-12-30 | — | $0.53 | Quarterly |
| 2025-09-15 | 2025-09-15 | 2025-09-30 | — | $0.53 | Quarterly |
| 2025-06-13 | 2025-06-13 | 2025-06-30 | — | $0.53 | Quarterly |
| 2025-03-14 | 2025-03-14 | 2025-03-31 | — | $0.53 | Quarterly |
| 2024-12-13 | 2024-12-13 | 2024-12-30 | — | $0.53 | Quarterly |
| 2024-09-13 | 2024-09-13 | 2024-09-30 | — | $0.53 | Quarterly |
| 2024-06-14 | 2024-06-14 | 2024-07-01 | — | $0.53 | Quarterly |
| 2024-03-14 | 2024-03-15 | 2024-04-01 | — | $0.53 | Quarterly |
| 2023-12-14 | 2023-12-15 | 2024-01-02 | — | $0.58 | Quarterly |
Coverage (payout of operating cash flow): -2.56%. 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.