PennyMac Mortgage Investment Trust (PMT)
Market Price (2/15/2026): $12.645 | Market Cap: $1.1 BilSector: Financials | Industry: Mortgage REITs
PennyMac Mortgage Investment Trust (PMT)
Market Price (2/15/2026): $12.645Market Cap: $1.1 BilSector: FinancialsIndustry: Mortgage REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 24%, Dividend Yield is 13%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 19% | Weak multi-year price returns2Y Excs Rtn is -19%, 3Y Excs Rtn is -40% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 644% |
| Low stock price volatilityVol 12M is 28% | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3231%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3232% | |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Real Estate & Mortgage Investment. Themes include Private Credit, Residential Mortgage Investing, Show more. | Key risksPMT key risks include [1] the sensitivity of its mortgage servicing rights (MSRs) and credit risk transfer (CRT) assets to interest rate volatility, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 24%, Dividend Yield is 13%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 19% |
| Low stock price volatilityVol 12M is 28% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets, and Real Estate & Mortgage Investment. Themes include Private Credit, Residential Mortgage Investing, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -19%, 3Y Excs Rtn is -40% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 644% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3231%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3232% |
| Key risksPMT key risks include [1] the sensitivity of its mortgage servicing rights (MSRs) and credit risk transfer (CRT) assets to interest rate volatility, Show more. |
Qualitative Assessment
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1. Strong Fourth Quarter 2025 Earnings Exceeding Expectations and Growing Book Value.
PennyMac Mortgage Investment Trust reported diluted earnings per share (EPS) of $0.48 for the fourth quarter of 2025, surpassing analyst estimates of $0.40. This represented a 20% earnings surprise and contributed to a net income of $42 million for common shareholders, achieving an annualized return on common equity of 13%. Furthermore, the diluted EPS of $0.48 exceeded the quarterly dividend of $0.40 per share, leading to an increase in book value per share to $15.25 from $15.16 at the end of the previous quarter.
2. Robust Securitization Activity and Positive Outlook for 2026.
The company demonstrated strong operational execution by completing 19 securitizations in 2025, totaling $6.7 billion in Unpaid Principal Balance (UPB), a substantial increase from just two securitizations in 2024. PennyMac Mortgage Investment Trust also set a positive tone for future growth by announcing plans to execute approximately 30 securitizations in 2026, aiming for returns in the low to mid-teens. This strategic focus on high-return investments and enhanced securitization activity indicates a favorable growth trajectory.
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Stock Movement Drivers
Fundamental Drivers
The 8.3% change in PMT stock from 10/31/2025 to 2/14/2026 was primarily driven by a 8.3% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 2142026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.67 | 12.64 | 8.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 171 | 171 | 0.0% |
| Net Income Margin (%) | 71.3% | 71.3% | 0.0% |
| P/E Multiple | 8.3 | 9.0 | 8.3% |
| Shares Outstanding (Mil) | 87 | 87 | 0.0% |
| Cumulative Contribution | 8.3% |
Market Drivers
10/31/2025 to 2/14/2026| Return | Correlation | |
|---|---|---|
| PMT | 8.3% | |
| Market (SPY) | -0.0% | 15.7% |
| Sector (XLF) | -1.4% | 14.5% |
Fundamental Drivers
The 14.3% change in PMT stock from 7/31/2025 to 2/14/2026 was primarily driven by a 18.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312025 | 2142026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.06 | 12.64 | 14.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 145 | 171 | 18.3% |
| Net Income Margin (%) | 72.7% | 71.3% | -1.9% |
| P/E Multiple | 9.1 | 9.0 | -1.5% |
| Shares Outstanding (Mil) | 87 | 87 | 0.0% |
| Cumulative Contribution | 14.3% |
Market Drivers
7/31/2025 to 2/14/2026| Return | Correlation | |
|---|---|---|
| PMT | 14.3% | |
| Market (SPY) | 8.2% | 19.8% |
| Sector (XLF) | -1.1% | 20.7% |
Fundamental Drivers
The 5.6% change in PMT stock from 1/31/2025 to 2/14/2026 was primarily driven by a 45.0% change in the company's P/E Multiple.| (LTM values as of) | 1312025 | 2142026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.97 | 12.64 | 5.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 163 | 171 | 4.7% |
| Net Income Margin (%) | 102.4% | 71.3% | -30.3% |
| P/E Multiple | 6.2 | 9.0 | 45.0% |
| Shares Outstanding (Mil) | 87 | 87 | -0.2% |
| Cumulative Contribution | 5.6% |
Market Drivers
1/31/2025 to 2/14/2026| Return | Correlation | |
|---|---|---|
| PMT | 5.6% | |
| Market (SPY) | 14.3% | 39.0% |
| Sector (XLF) | 1.4% | 38.9% |
Fundamental Drivers
The 19.3% change in PMT stock from 1/31/2023 to 2/14/2026 was primarily driven by a 90.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312023 | 2142026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.59 | 12.64 | 19.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 90 | 171 | 90.5% |
| P/S Multiple | 10.7 | 6.4 | -39.8% |
| Shares Outstanding (Mil) | 91 | 87 | 4.1% |
| Cumulative Contribution | 19.3% |
Market Drivers
1/31/2023 to 2/14/2026| Return | Correlation | |
|---|---|---|
| PMT | 19.3% | |
| Market (SPY) | 74.0% | 41.8% |
| Sector (XLF) | 47.7% | 43.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PMT Return | 8% | -18% | 36% | -5% | 13% | -0% | 29% |
| Peers Return | 12% | -20% | 18% | 5% | 19% | 2% | 36% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| PMT Win Rate | 58% | 50% | 58% | 50% | 58% | 50% | |
| Peers Win Rate | 53% | 47% | 52% | 62% | 63% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| PMT Max Drawdown | -3% | -31% | -10% | -11% | -5% | -6% | |
| Peers Max Drawdown | -4% | -36% | -18% | -7% | -7% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NLY, AGNC, RITM, STWD, TWO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/13/2026 (YTD)
How Low Can It Go
| Event | PMT | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -45.0% | -25.4% |
| % Gain to Breakeven | 81.7% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -75.9% | -33.9% |
| % Gain to Breakeven | 315.0% | 51.3% |
| Time to Breakeven | Not Fully Recovered days | 148 days |
| 2018 Correction | ||
| % Loss | -14.6% | -19.8% |
| % Gain to Breakeven | 17.1% | 24.7% |
| Time to Breakeven | 46 days | 120 days |
Compare to NLY, AGNC, RITM, STWD, TWO
In The Past
PennyMac Mortgage Investment Trust's stock fell -45.0% during the 2022 Inflation Shock from a high on 10/21/2021. A -45.0% loss requires a 81.7% gain to breakeven.
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About PennyMac Mortgage Investment Trust (PMT)
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Here are 1-3 brief analogies for PennyMac Mortgage Investment Trust (PMT):
BlackRock for mortgage-backed securities.
Simon Property Group, but for mortgage debt instead of shopping malls.
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- Mortgage-Backed Securities (MBS) Investments: Investing in securities backed by pools of residential mortgages, primarily those guaranteed by government-sponsored enterprises.
- Mortgage Loan Investments: Acquiring and investing in various types of residential mortgage loans, including conventional, government-insured, and non-conforming loans.
- Mortgage Servicing Rights (MSRs) Investments: Investing in the contractual rights to service mortgage loans, which provides the trust with a stream of fee income.
- Credit Risk Transfer (CRT) Securities Investments: Investing in securities issued by government-sponsored enterprises that transfer a portion of the credit risk on mortgage loans to private investors.
- Correspondent Lending Services: Acquiring newly originated residential mortgage loans from a network of approved third-party mortgage originators.
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PennyMac Mortgage Investment Trust (PMT) is a mortgage Real Estate Investment Trust (mREIT). Its primary business model involves investing in residential mortgage loans and mortgage-related assets, such as mortgage-backed securities (MBS) and mortgage servicing rights (MSRs). As an mREIT, PMT generates revenue primarily from the net interest income on its investment portfolio (the difference between the interest earned on its assets and its funding costs), as well as from gains on the sale of investments and servicing fees.
Given this business model, PMT does not have "major customers" in the traditional sense of companies or individuals purchasing products or services directly from it.
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Primary Revenue Source: The vast majority of PMT's revenue comes from the interest payments on the mortgage assets it holds. The ultimate source of these payments are millions of individual homeowners who are the borrowers on the underlying mortgages. However, PMT does not directly interact with these individuals or "sell" to them.
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Sales of Assets: As part of its portfolio management strategy, PMT may sell certain mortgage assets (e.g., MBS, whole loans, or MSRs) from its portfolio. When it does so, the buyers are other financial institutions, such as institutional investors (e.g., other investment funds, banks, insurance companies) or broker-dealers operating in the secondary market. These transactions are typically conducted with a variety of counterparties in a broad, liquid market.
Therefore, it is not possible to identify specific "major customer companies" with names and symbols that PMT sells primarily to, as its asset sales are market-driven and diversified across numerous institutional investors rather than concentrated with a few key buyers. The company's core income is derived from holding and managing investments, not from a recurring sales relationship with a defined customer base.
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- PennyMac Financial Services, Inc. (PFSI)
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```htmlDavid A. Spector, Chairman and Chief Executive Officer
Mr. Spector was appointed CEO in January 2017 and has been a member of the company's Board since December 2012. He has served in various executive roles at Private National Mortgage Acceptance Company, LLC (PNMAC) since its founding in January 2008. Before joining PennyMac, he was the co-head of global residential mortgages for Morgan Stanley. Prior to Morgan Stanley, he was Senior Managing Director, Secondary Marketing, at Countrywide Financial Corporation, where he worked from May 1990 to August 2006. Mr. Spector co-founded PennyMac in 2008 in partnership with Stanford L. Kurland, BlackRock Mortgage Ventures, and HC Partners.
Daniel S. Perotti, Senior Managing Director and Chief Financial Officer
Mr. Perotti has served as Senior Managing Director and Chief Financial Officer since January 1, 2021. Before this, he was the Deputy Chief Financial Officer from January 2017 to December 2020 and Chief Asset and Liability Management Officer, among other executive positions, since joining PennyMac in 2008. Prior to PennyMac, Mr. Perotti was a Vice President at BlackRock from July 2002 to July 2008, where he led the quantitative research team within BlackRock Solutions.
Mark Elbaum, Senior Managing Director and Chief Capital Markets Officer
Mr. Elbaum has served as Senior Managing Director and Chief Capital Markets Officer since February 2025. His previous roles include Chief Financial Officer at Home Point Financial (2020-2023), Chief Financial Officer at Marlette Funding, LLC (2018-2020), and Chief Financial Officer of Merrill Lynch, Bank of America's Wealth Management division (2011-2017). He also served as Chief Financial Officer of Bank of America's mortgage lending division and Chief Financial Officer of the Residential Lending Division at Countrywide Financial Corporation.
James Follette, Senior Managing Director and Chief Digital Officer
Mr. Follette has been Senior Managing Director and Chief Digital Officer since November 2023. Prior to this, he served as Senior Managing Director and Chief Mortgage Operations Officer (October 2022 to November 2023) and Senior Managing Director and Chief Mortgage Fulfillment Officer (February 2018 to October 2022). Mr. Follette has held various executive positions at PennyMac Financial Services, Inc. and its affiliates since 2011 and previously worked at Countrywide Financial Corporation and Bank of America Corporation.
Steven R. Bailey, Senior Managing Director and Chief Mortgage Operations Officer
Mr. Bailey has served as Chief Mortgage Operations Officer of PennyMac Mortgage Investment Trust since February 2016 and joined PennyMac in 2010. He was Chief Servicing Officer at PennyMac Financial Services, Inc. from February 2013 to February 2016. Before joining PennyMac, he was the Mortgage Servicing Executive at Countrywide Financial Corporation (and Bank of America) from November 2004 to February 2010, overseeing a loan portfolio of over 14 million loans. He held numerous management and leadership positions at Countrywide since joining in 1985.
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The key risks for PennyMac Mortgage Investment Trust (PMT) are primarily driven by its nature as a mortgage Real Estate Investment Trust (REIT) and its specific investment strategies.
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Interest Rate Risk: As a mortgage REIT, PMT is highly vulnerable to fluctuations in interest rates. Changes in short-term and long-term interest rates can significantly impact the company's net interest margin, which is the spread between the interest earned on its mortgage assets and the cost of its borrowings. Rising interest rates increase borrowing costs and can reduce the value of existing mortgage-backed securities, while lower interest rates can lead to increased mortgage prepayments, forcing PMT to reinvest capital at lower yields. PMT's portfolio, including mortgage servicing rights (MSRs) and credit risk transfers (CRTs), is sensitive to interest rate volatility.
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Leverage and Refinancing Risk: Mortgage REITs, including PMT, heavily rely on leverage to finance their investments. PMT's high debt-to-equity ratio exposes it to significant refinancing risks and potential margin compression if interest rates increase. The company's reliance on short-term financing, such as repurchase agreements, also creates liquidity vulnerability during periods of market stress, a phenomenon sometimes referred to as rollover risk.
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Credit Risk: This risk arises from the potential for borrowers to default on their mortgage loans, which can directly impact the income generated by the REIT. While agency-backed mortgage-backed securities generally carry minimal credit risk, PMT's investments in credit risk transfers (CRTs) and potentially other non-agency assets expose it to higher credit risk, especially during economic downturns.
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PennyMac Mortgage Investment Trust (PMT) engages in several key activities within the U.S. residential mortgage market, including investments in Mortgage Servicing Rights (MSRs), Mortgage-Backed Securities (MBS), Credit Risk Transfer (CRT) agreements, and correspondent production, which involves acquiring, pooling, and securitizing or selling newly originated prime credit quality loans.
The addressable markets for PMT's main products and services in the U.S. are substantial:
- U.S. Mortgage Originations: The market for new mortgage originations in the United States was valued at $1.50 trillion in 2023 and increased to $1.69 trillion in 2024. Mortgage originations in the U.S. reached $512.15 billion in the third quarter of 2025. The purchase-mortgage market specifically is valued at approximately $1,145.4 billion. The broader U.S. home mortgage market, encompassing origination, was valued at around $180.91 billion in 2023 and is projected to reach approximately $501.67 billion by 2032. Another estimate indicates the U.S. home loan market reached $2.29 trillion in 2025 and is forecasted to grow to $3.02 trillion by 2030.
- U.S. Mortgage-Backed Securities (MBS) Market: The U.S. MBS market is a significant component of the financial system, with over $11 trillion in outstanding securities and an average daily trading volume of nearly $300 billion. The MBS market size is estimated at $15.55 trillion in 2025 and is projected to grow to $22.43 trillion by 2030.
- U.S. Mortgage Servicing Market: As of September 2025, Americans collectively owe $12.94 trillion on 86.47 million mortgages, with mortgage debt accounting for 70.3% of U.S. consumer debt. Nonbank mortgage companies held the servicing rights on 54% of mortgage balances in 2022. The U.S. loan servicing market is expected to grow at a compound annual growth rate (CAGR) of 13% from 2022 to 2028.
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Here are 3-5 expected drivers of future revenue growth for PennyMac Mortgage Investment Trust (PMT) over the next 2-3 years:
- Declining Mortgage Rates and Increased Origination Volumes: Expectations for declining mortgage rates in 2025 are anticipated to drive growth in both refinance and purchase mortgage volumes, leading to increased loan originations. Third-party estimates project total originations to average $2.3 trillion in 2025.
- Growth in Credit-Sensitive Strategies: PMT expects increased returns from its credit-sensitive strategies, which include organically created credit risk transfer (CRT) investments, non-agency subordinate mortgage-backed securities (MBS), and opportunistic investments in GSE CRT. In Q3 2025, gains from organically created CRT investments alone contributed $10 million.
- Expansion of Private Label Securitization Activity: The company is actively engaged in private label securitizations, including agency-eligible investor loans and jumbo loans, retaining significant new investments from these activities. This strategy is expected to continue, with plans to invest in subordinate MBS from private label securitizations and acquire conventional and jumbo loans from PFSI.
- Strategic Investments in Interest-Rate-Sensitive Assets: PMT is deploying capital into Agency floating-rate MBS within its interest-rate-sensitive strategies, which is expected to enhance returns in this segment.
- Synergistic Relationship with PennyMac Financial Services, Inc. (PFSI): The ongoing partnership with PFSI provides PMT with a consistent and high-quality pipeline of loans for investment and enables efficient capital deployment by leveraging PFSI's robust operational platform.
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Share Repurchases
- PennyMac Mortgage Investment Trust has resumed repurchasing shares.
- The company's share count declined by more than 20% in 2024 due to share repurchases, which were made at a price well below book value.
Share Issuance
- As of February 20, 2024, there were 86,646,365 common shares outstanding, a decrease from 88,892,107 common shares outstanding as of February 22, 2023.
- The company's share count declined in 2024, indicating a net repurchase activity rather than significant common share issuance during that year.
Inbound Investments
- PennyMac Mortgage Investment Trust is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. (PFSI).
- The company benefits from a synergistic relationship with PFSI, leveraging its operating platform, servicing operations, and origination business to provide a consistent pipeline of loans for investment.
Outbound Investments
- In the third quarter of 2025, PMT acquired $4.6 billion in unpaid principal balance (UPB) of loans, including $3.3 billion of conventional conforming and jumbo loans from PFSI and $1.3 billion of loans from PFSI's production.
- These acquisitions in Q3 2025 resulted in the creation of $46 million in new mortgage servicing rights (MSRs).
- In Q3 2025, PMT also purchased $876.4 million of Agency floating rate mortgage-backed securities (MBS) and generated $84 million of net new investments in non-Agency subordinate bonds and $50 million in non-Agency senior bonds.
Capital Expenditures
- No explicit information regarding traditional capital expenditures for property, plant, and equipment for PennyMac Mortgage Investment Trust was found within the provided timeframe, as their investments are primarily in mortgage-related financial assets.
Latest Trefis Analyses
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| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 12.02 |
| Mkt Cap | 6.1 |
| Rev LTM | 861 |
| Op Inc LTM | - |
| FCF LTM | -200 |
| FCF 3Y Avg | 130 |
| CFO LTM | 277 |
| CFO 3Y Avg | 223 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 15.2% |
| Rev Chg 3Y Avg | 14.3% |
| Rev Chg Q | 87.7% |
| QoQ Delta Rev Chg LTM | 24.8% |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 9.3% |
| CFO/Rev 3Y Avg | -10.5% |
| FCF/Rev LTM | -27.5% |
| FCF/Rev 3Y Avg | -11.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 6.1 |
| P/S | 6.8 |
| P/EBIT | - |
| P/E | 8.5 |
| P/CFO | 4.0 |
| Total Yield | 14.1% |
| Dividend Yield | 5.0% |
| FCF Yield 3Y Avg | 3.0% |
| D/E | 1.9 |
| Net D/E | 1.5 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.7% |
| 3M Rtn | 7.3% |
| 6M Rtn | 14.5% |
| 12M Rtn | 2.5% |
| 3Y Rtn | 37.4% |
| 1M Excs Rtn | -1.6% |
| 3M Excs Rtn | 7.4% |
| 6M Excs Rtn | 8.7% |
| 12M Excs Rtn | -8.9% |
| 3Y Excs Rtn | -28.9% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Credit sensitive strategies | 233 | -107 | 323 | -305 | 192 |
| Interest rate sensitive strategies | 133 | 298 | -205 | 175 | 51 |
| Correspondent production | 56 | 111 | 299 | 597 | 243 |
| Corporate | 7 | 2 | 3 | 3 | 4 |
| Total | 429 | 304 | 420 | 469 | 489 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Interest rate sensitive strategies | 10,282 | 9,992 | 7,364 | 4,593 | 4,994 |
| Credit sensitive strategies | 1,632 | 1,615 | 1,848 | 2,921 | 2,365 |
| Correspondent production | 789 | 1,937 | 4,326 | 3,781 | 4,217 |
| Corporate | 411 | 378 | 235 | 197 | 196 |
| Total | 13,114 | 13,922 | 13,773 | 11,492 | 11,771 |
Price Behavior
| Market Price | $12.64 | |
| Market Cap ($ Bil) | 1.1 | |
| First Trading Date | 07/30/2009 | |
| Distance from 52W High | -8.5% | |
| 50 Days | 200 Days | |
| DMA Price | $12.67 | $11.89 |
| DMA Trend | indeterminate | up |
| Distance from DMA | -0.2% | 6.3% |
| 3M | 1YR | |
| Volatility | 32.5% | 28.1% |
| Downside Capture | 47.22 | 57.83 |
| Upside Capture | 69.10 | 54.81 |
| Correlation (SPY) | 17.2% | 38.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.54 | 1.03 | 0.59 | 0.62 | 0.58 | 0.78 |
| Up Beta | -0.90 | 0.73 | 0.46 | 1.14 | 0.50 | 0.63 |
| Down Beta | 1.79 | 1.02 | 0.35 | 0.32 | 0.67 | 0.86 |
| Up Capture | 111% | 71% | 76% | 58% | 45% | 49% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 12 | 21 | 35 | 65 | 131 | 392 |
| Down Capture | 304% | 154% | 78% | 66% | 71% | 97% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 7 | 17 | 22 | 53 | 109 | 335 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PMT | |
|---|---|---|---|---|
| PMT | 5.4% | 28.0% | 0.18 | - |
| Sector ETF (XLF) | 1.6% | 19.3% | -0.04 | 39.0% |
| Equity (SPY) | 14.0% | 19.4% | 0.55 | 38.6% |
| Gold (GLD) | 74.3% | 25.3% | 2.17 | 20.2% |
| Commodities (DBC) | 7.0% | 16.7% | 0.24 | 21.0% |
| Real Estate (VNQ) | 7.9% | 16.6% | 0.28 | 53.7% |
| Bitcoin (BTCUSD) | -29.8% | 44.9% | -0.65 | 14.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PMT | |
|---|---|---|---|---|
| PMT | 4.4% | 29.5% | 0.18 | - |
| Sector ETF (XLF) | 12.4% | 18.7% | 0.54 | 47.4% |
| Equity (SPY) | 13.3% | 17.0% | 0.62 | 48.9% |
| Gold (GLD) | 22.1% | 17.0% | 1.06 | 15.0% |
| Commodities (DBC) | 10.5% | 18.9% | 0.44 | 16.0% |
| Real Estate (VNQ) | 5.2% | 18.8% | 0.18 | 54.3% |
| Bitcoin (BTCUSD) | 8.3% | 57.2% | 0.37 | 21.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PMT | |
|---|---|---|---|---|
| PMT | 12.8% | 45.0% | 0.41 | - |
| Sector ETF (XLF) | 13.8% | 22.2% | 0.57 | 40.9% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 38.3% |
| Gold (GLD) | 15.3% | 15.6% | 0.82 | 4.2% |
| Commodities (DBC) | 8.1% | 17.6% | 0.38 | 18.1% |
| Real Estate (VNQ) | 6.4% | 20.7% | 0.27 | 47.7% |
| Bitcoin (BTCUSD) | 67.9% | 66.7% | 1.07 | 11.7% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/29/2026 | |||
| 10/21/2025 | 8.4% | 7.7% | 5.6% |
| 7/22/2025 | 1.6% | -3.4% | -4.1% |
| 4/22/2025 | -7.0% | -2.8% | -6.1% |
| 1/30/2025 | 5.5% | 5.7% | 13.2% |
| 10/22/2024 | -1.1% | 0.4% | -3.8% |
| 7/23/2024 | -7.9% | -5.1% | -4.8% |
| 4/24/2024 | 3.1% | 4.4% | -2.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 8 | 9 |
| # Negative | 15 | 16 | 15 |
| Median Positive | 5.5% | 5.1% | 9.2% |
| Median Negative | -3.3% | -4.8% | -4.8% |
| Max Positive | 14.6% | 25.1% | 57.5% |
| Max Negative | -10.2% | -13.2% | -19.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Spector, David | Chairman and CEO | Direct | Buy | 11182025 | 12.40 | 10,000 | 124,000 | 4,436,646 | Form |
| 2 | Lynch, Catherine A | Direct | Buy | 10282025 | 12.67 | 1,470 | 18,623 | 712,002 | Form | |
| 3 | Lynch, Catherine A | Direct | Buy | 9242025 | 12.02 | 2,823 | 33,932 | 657,625 | Form | |
| 4 | Lynch, Catherine A | Direct | Buy | 7282025 | 12.41 | 1,366 | 16,954 | 644,081 | Form | |
| 5 | Lynch, Catherine A | Direct | Buy | 4282025 | 12.15 | 2,878 | 34,968 | 598,436 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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