AI Earnings Predictions for PennyMac Mortgage Investment Trust of Beneficial Interest (PMT)

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

PennyMac Mortgage Investment Trust Reports

Second Quarter 2026 Results

WESTLAKE

VILLAGE, Calif. – July 29, 2026 – PennyMac Mortgage Investment Trust (NYSE: PMT) today reported net income attributable to common shareholders of $20 million, or $0.23 per common share on net investment income of $73 million for the second quarter of 2026.

CEO Commentary

“PMT generated net income attributable to common shareholders of $20 million in the second quarter, or $0.23 per diluted share, representing an annualized return on common equity of 6%,” said Chairman and CEO David Spector. “We are moving to strengthen the overall earnings power of our portfolio. During the quarter, we closed six securitizations totaling $2.2 billion in unpaid principal balance, which generated $120 million of net new investments in non-Agency subordinate bonds.”

Mr. Spector continued, “Given the success we are seeing in our private label securitization program, we are shifting equity allocation towards those more accretive credit opportunities. In June, we took the initial steps in what we believe will be a series of actions to reduce our exposure to mortgage servicing rights (MSRs), agreeing to sell $13 billion in unpaid principal balance (UPB) of MSRs and electing to stop Agency-eligible loan acquisitions in our correspondent channel. These initial actions unlock capital from our MSR portfolio to redeploy into organically-created credit investments with return potential in the low-to-mid teens. We expect this realignment of our balance sheet will bolster PMT’s return profile to deliver attractive total returns over the long term.”

The table below highlights key financial performance metrics:

($ in millions except for per share metrics)

2Q26

1Q26

2Q25

Q/Q

Y/Y

Net investment income

73

82

70

(11 )%

4 %

Net income (loss) attributable to common shareholders

20

14

(3 )

45 %

N/M

Diluted earnings (loss) per common share

$ 0.23

$ 0.16

$ (0.04 )

44 %

N/M

Annualized return on common equity

(ROE)(1)

6 %

4 %

(1 )%

44 %

N/M

Book value per share (at period end)

$ 14.83

$ 14.98

$ 15.00

(1 )%

(1 )%

Dividends declared per common share

$ 0.40

$ 0.40

$ 0.40

—

—

(1)

Return on average common equity is calculated based on net income attributable to common shareholders as a percentage of monthly average common equity during the quarter

Business Highlights

•

Acquired $2.6 billion in UPB of loans through correspondent production activities, down 8% from the prior quarter and 17% from the second quarter of 2025; beginning in June, PMT elected to stop acquiring Agency-eligible conventional loans through correspondent production but will continue acquiring 100% of all non-Agency loans

•

Acquired $2.2 billion in UPB of loans from PFSI production for inclusion in private label securitizations, up 44% from the prior quarter and 123% from the second quarter of 2025

•

Closed three Agency-eligible investor loan securitizations, one jumbo loan securitization, and two

Agency-eligible owner occupied loan securitizations with a combined UPB of $2.2 billion

•

Generated $120 million of net new investments in non-Agency subordinate bonds1

•

Purchased $486 million of Agency floating-rate mortgage-backed securities (MBS)

1

We consolidate the assets and liabilities of the trust that issued the subordinate and senior bonds; accordingly, these investments are shown as Loans held for investment at fair value and Asset-backed financing of variable interest entities at fair value on our consolidated balance sheets

1

Notable Activity After Quarter End

•

Completed one jumbo loan securitization and one Agency-eligible owner-occupied loan securitization with a

combined UPB of $692 million, generating $36 million of net new investments in non-Agency subordinate bonds2

•

Entered into an agreement to sell $13 billion in UPB of low-coupon Agency MSRs with an expected close at the end of August

Credit Sensitive Strategies Segment

The table below highlights key operating metrics and financial performance in the credit sensitive strategies segment:

($ in millions)

2Q26

1Q26

2Q25

Q/Q

Y/Y

Organically-created CRT investments (at period end)

Fair value

938

962

1,049

(2 )%

(11 )%

Underlying UPB

18,090

18,716

20,356

(3 )%

(11 )%

Fair value of subordinate MBS held in VIE from PMT private label securitizations (at period end)

853

735

274

16 %

211 %

Profitability

Income excluding market-driven value changes

12

12

14

4 %

(15 )%

Market-driven value changes(1)

(1 )

5

7

N/M

N/M

Total income contribution

11

17

22

(32 )%

(49 )%

Weighted average equity allocated

411

390

450

5 %

(9 )%

Annualized ROE

11 %

17 %

19 %

(6 )%

(8 )%

May not sum due to rounding

(1)

Categorization of market-driven value changes or non-recurring impacts

are based on management assessment; income excluding market-driven value changes does not represent REIT tax

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EX-99.1

Exhibit 99.1

PennyMac Mortgage Investment Trust

Reports First Quarter 2026 Results

WESTLAKE VILLAGE, Calif. – May 5, 2026 – PennyMac Mortgage Investment Trust (NYSE: PMT) today reported net income attributable to common shareholders of $14.2 million, or $0.16 per common share for the first quarter of 2026, on net investment income of $82.1 million. PMT previously announced a cash dividend for the first quarter of 2026 of $0.40 per common share of beneficial interest, which was declared on March 11, 2026, and was paid on April 24, 2026, to common shareholders of record as of April 9, 2026.

First Quarter 2026 Highlights

Financial results:

•

Net income attributable to common shareholders of $14.2 million; annualized return on average common shareholders’ equity of 4%1

•

Lower contribution from the interest rate sensitive strategies, primarily due to increased mortgage servicing rights (MSR) runoff related to higher coupon loans, partially offset by improved results in the aggregation and securitization2 segment

•

Book value per common share was $14.98 at March 31, 2026, down from $15.25 at December 31, 2025

Other investment highlights:

•

Investment activity driven by acquisition volumes

•

Loans acquired totaled $4.3 billion in unpaid principal balance (UPB), down 21% from the prior quarter

•

Acquired $2.8 billion in UPB of conventional conforming and nonconforming correspondent loan volume from PennyMac Financial Services, Inc. (NYSE: PFSI) through the correspondent fulfillment arrangement, down 24% from the prior quarter

1

Return on average common equity is calculated based on net income attributable to common shareholders as a percentage of monthly average common equity during the quarter

2

Formerly referred to as the correspondent production segment

1

•

Resulted in the creation of $40 million in new mortgage servicing rights (MSRs)

•

Also acquired $1.5 billion in UPB of loans from PFSI’s production, down 15% from the prior quarter

•

Closed three Agency-eligible investor loan securitizations, two jumbo loan securitizations, and three

Agency-eligible owner occupied loan securitizations with a combined UPB of $2.8 billion

•

Generated $189 million of net new investments in non-Agency subordinate bonds and $12 million of net new investments in non-Agency senior bonds3

•

Sold $477 million of Agency fixed-rate mortgage-backed securities (MBS)

Other highlights:

•

Redeemed $345 million of exchangeable senior notes due March 2026

Notable activity after quarter end:

•

Completed one Agency-eligible investor loan securitization, one Agency-eligible owner occupied loan

securitization, and priced another Agency-eligible investor loan securitization with a combined UPB of $1.1 billion

•

Generated $70 million of net new investments in non-Agency subordinate bonds2

“PMT’s first quarter net income of $14 million, or $0.16 in diluted earnings per share was impacted by lower contributions from our interest rate sensitive strategies partially offset by improved results in our aggregation and securitization segment,” said Chairman and CEO David Spector. “While these factors contributed to a decline in book value per share, the underlying fundamentals of our investments remain strong. We are particularly enthusiastic about the continued success of our private label securitization program, highlighted by the completion of eight transactions during the quarter totaling $2.8 billion in UPB. This activity drove continued organic investment creation and we retained more than $200 million of new investments, reinforcing our ability to create high-quality credit assets in a challenging environment. We remain on pace to complete approximately 30 securitizations in 2026, which we expect will build a substantial foundation of investments with attractive returns to support PMT’s future earnings.”

3

We consolidate the assets and liabilities of the trust that issued the subordinate and senior bonds; accordingly, these investments are shown as Loans held for investment at fair value and Asset-backed financing of variable interest entities at fair value on our consolidated balance sheets

2

Mr. Spector continued, “Our ability to successfully pivot toward credit-sensitive strategies underscores the depth and agility of our investment platform. The shift into private label securitizations has allowed us to deploy capital into new, high-quality credit investments that we anticipate will produce low-to-mid teens returns on equity. We remain focused on the continued expansion of our securitization program and disciplined capital allocation. As a result, we are confident that our strategy and diversified portfolio of investments will drive the returns necessary to support our dividend and create value for our shareholders over the long-term.”

The following table presents the contributions of PMT’s segments to pretax income:

Quarter ended March 31, 2026

Credit

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EX-99.1

Exhibit 99.1

PennyMac Mortgage Investment Trust

Reports Fourth Quarter and Full-Year 2025 Results

WESTLAKE VILLAGE, Calif. – January 29, 2026 – PennyMac Mortgage Investment Trust (NYSE: PMT) today reported net income attributable to common shareholders of $41.9 million, or $0.48 per common share for the fourth quarter of 2025, on net investment income of $93.6 million. PMT previously announced a cash dividend for the fourth quarter of 2025 of $0.40 per common share of beneficial interest, which was declared on December 10, 2025, and will be paid on January 23, 2026, to common shareholders of record as of December 26, 2025.

Fourth Quarter 2025 Highlights

Financial results:

•

Net income attributable to common shareholders of $41.9 million; annualized return on average common shareholders’ equity of 13 percent1

•

Strong results from the credit sensitive and interest rate sensitive strategies, including a tax benefit

•

Book value per common share was $15.25 at December 31, 2025, up from $15.16 at September 30, 2025

Other investment highlights:

•

Investment activity driven by acquisition volumes

•

Loans acquired totaled $5.5 billion in unpaid principal balance (UPB), up 18 percent from the prior quarter

•

Acquired $3.7 billion in UPB of conventional conforming and non-Agency loan volume from PennyMac Financial Services, Inc. (NYSE: PFSI) through their fulfillment agreement, up 10 percent from the prior quarter

1

Return on average common equity is calculated based on net income attributable to common shareholders as a percentage of monthly average common equity during the quarter

1

•

Also acquired $1.8 billion in UPB of loans from PFSI’s production, up 40 percent from the prior quarter

•

Resulted in the creation of $53 million in new mortgage servicing rights (MSRs)

•

Closed three Agency-eligible investor loan securitizations, three jumbo loan securitizations, and two

Agency-eligible owner occupied loan securitizations with a combined UPB of $2.8 billion

•

Generated $184 million of net new investments in non-Agency subordinate bonds2

Other highlights:

•

Raised $150 million through opportunistic reopenings of exchangeable senior notes due June 2029

Notable activity after quarter end:

•

Closed one jumbo loan securitization, one Agency-eligible investor loan securitization, and one Agency-eligible owner occupied loan securitization with a combined UPB of $1.1 billion

•

Generated $69 million of net new investments in non-Agency subordinate bonds2

Full-Year 2025 Highlights

Financial results:

•

Net income attributable to common shareholders of $86.1 million, versus $119.2 million in 2024; diluted earnings per share of $0.99 versus $1.37 in 2024

•

Dividends of $1.60 per common share

•

Book value per share decreased from $15.87 to $15.25

•

Net investment income of $307.5 million, down from $334.2 million in 2024

•

Return on average common equity of 6%3

•

Closed 19 private label securitizations with a combined UPB of $6.7 billion

•

Generated approximately $528 million of net new investments in non-Agency senior and subordinate bonds2

2

We consolidate the assets and liabilities of the trust that issued the subordinate and senior bonds; accordingly, these investments are shown as Loans held for investment at fair value and Asset-backed financing of variable interest entities at fair value on our consolidated balance sheets

3

Return on average common equity is calculated based on net income attributable to common shareholders as a percentage of monthly average common equity during the year

2

•

Purchased $876 million of agency floating rate mortgage-backed securities

•

Sold $195 million in Government-sponsored enterprise (GSE)-issued CRT investments

•

Issued $428 million in unsecured debt to address upcoming maturities and support growth

“PMT delivered strong results in the fourth quarter, generating earnings per share of $0.48, above the dividend level for an annualized return on common equity of 13%,” said Chairman and CEO David Spector. “These results were primarily driven by solid contributions from our credit sensitive and interest rate sensitive strategies, including a tax benefit, demonstrating the earnings power of our investment portfolio in the current market environment. We took significant steps to build future earnings potential, accelerating our organic investment activity with the execution of eight private label securitizations totaling $2.8 billion in UPB, retaining more than $180 million in new subordinate bond investments with attractive return profiles. Additionally, we further strengthened our balance sheet and liquidity position through the opportunistic issuance of $150 million in exchangeable senior notes. These actions highlight our ability to actively manage capital and consistently create high-quality investments at scale.”

Mr. Spector continued, “Fundamentally, PMT’s success is anchored by