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About PennyMac Mortgage Investment Trust
From its filings with the US Securities and Exchange Commission
PennyMac Mortgage Investment Trust is based in Westlake Village, California and is incorporated in Maryland. Its shares trade on NYSE under the ticker PMT. The SEC classifies its business as real estate investment trusts. In the fiscal year to 31 December 2025, it reported revenue of $307.5m and net income of $127.9m. At that date it held total assets of $21.35bn and shareholders' equity of $1.89bn.
We are a specialty finance company that invests primarily in mortgage-related assets. We conduct substantially all of our operations, and make substantially all of our investments, through our subsidiary, PennyMac Operating Partnership, L.P. (our “Operating Partnership”) and its subsidiaries. A wholly-owned subsidiary of ours is the sole general partner, and we are the sole limited partner, of our Operating Partnership. Certain of the activities conducted or investments made by us that are described below are conducted or made through a wholly-owned subsidiary that is a taxable real estate investment trust (“REIT”) subsidiary (“TRS”) or through other subsidiaries of our Operating Partnership.
Our objective is to provide attractive risk-adjusted returns to our investors over the long-term, primarily through dividends and secondarily through capital appreciation. A significant portion of our investment portfolio is comprised of mortgage-related assets that we have created through our correspondent production activities, including mortgage servicing rights (“MSRs”), subordinate and senior mortgage-backed securities (“MBS”), and credit risk transfer (“CRT”) arrangements, which absorb credit losses on certain of the loans we have sold. We also invest in Agency and senior non-Agency MBS, subordinate MBS, interest-only ("IO"), principal-only ("PO") stripped MBS and Agency floating rate collateralized mortgage obligations ("CMOs").
Quoted from its 10-K, filed 18 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Mortgage Real Estate Investment Trusts (REITs)
- Listed since
- 30 Jul 2009
- Employees
- 4,900
- Head office
- 3043 TOWNSGATE ROAD, WESTLAKE VILLAGE, CA, 91361
- Incorporated in
- MD
- Classification
- Real Estate Investment Trusts
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. David SpectorChairman of the Board of Trustees, Chief Executive Officer, since 2009$10.6m
- Mr. Douglas JonesPresident, Chief Mortgage Banking Officer, Trustee, since 2013$6.6m
- Mr. Daniel PerottiChief Financial Officer, Senior Managing Director$3.4m
- Mr. Derek StarkSenior Managing Director, Chief Legal Officer, Secretary$2.2m
- Mr. Mark ElbaumSenior Managing Director, Chief Capital Markets Officer
- Mr. James FolletteSenior Managing Director, Chief Digital Officer$2.4m
- Ms. Abbie TidmoreSenior Managing Director, Chief Revenue Officer
- Mr. Preston DuFauchardIndependent Lead Trustee$258,248
- Mr. Scott CarnahanIndependent Trustee$238,998
- Ms. Donna CorleyIndependent Trustee$231,248
- Ms. Catherine LynchIndependent Trustee$234,874
- Ms. Nancy McallisterIndependent Trustee$240,248
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 52
- Environment
- 34
- Social
- 99
- Governance
- 24
- Women in the workforce
- 51.8%
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- PennyMac Mortgage Investment Trust (PMT) benefits from several key strengths that contribute to its competitive advantage in the market. Firstly, PMT possesses strong brand recognition and a reputable track record as a leading mortgage real estate investment trust. This established presence enables PMT to attract investors and partners, fostering growth opportunities.
- Secondly, PMT's diverse portfolio of mortgage-related assets provides a solid foundation for generating consistent income. The company strategically invests in a range of mortgage-backed securities, loan servicing rights, and mortgage loans, thereby spreading risks and benefiting from various income streams.
Weaknesses
- Despite its strengths, PMT also faces certain weaknesses that pose challenges to its business operations. One significant weakness is the vulnerability of PMT's earnings to interest rate fluctuations. As a mortgage-focused company, PMT is exposed to risks associated with changes in interest rates, which could impact its profitability and cash flow.
- Additionally, PMT's heavy reliance on external financing to fund its mortgage-related investments could expose the company to potential liquidity pressures in times of volatile market conditions or disruptions in the credit markets.
Opportunities
- PMT has several opportunities for future growth and expansion. Firstly, the ongoing recovery and growth of the housing market present an opportunity for PMT to capitalize on increased mortgage lending activities. As the demand for housing rises, PMT can benefit from originating new mortgage loans or acquiring mortgage servicing rights.
- Furthermore, PMT can also explore potential partnerships and collaborations with financial technology companies to leverage technological advancements in the mortgage industry. By embracing innovation and digitalization, PMT can enhance its operational efficiencies and provide better customer experiences.
Threats
- PMT faces various threats that could negatively impact its business prospects. One critical threat is the potential for a downturn in the housing market, which may lead to reduced demand for mortgage loans and negatively affect PMT's financial performance.
- Moreover, regulatory changes and evolving compliance requirements impose the risk of increased operational costs and potential disruptions to PMT's business model. The constantly changing regulatory landscape necessitates ongoing monitoring and adaptation to maintain compliance and avoid penalties.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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