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Dec 31, 2023
PennyMac Q4 2023 Earnings Report
Reported net income attributable to common shareholders with strong contributions from credit sensitive strategies and correspondent production.
Key Takeaways
PennyMac Mortgage Investment Trust reported a net income attributable to common shareholders of $42.5 million, or $0.44 per common share, for Q4 2023. The results were driven by strong contributions from credit sensitive strategies and correspondent production, partially offset by fair value declines in interest rate sensitive strategies.
Net income attributable to common shareholders was $42.5 million, resulting in an annualized return on average common equity of 12%.
Book value per common share increased to $16.13 at December 31, 2023, from $16.01 at September 30, 2023.
Conventional correspondent loan production volumes for PMT’s account totaled $2.5 billion in unpaid principal balance (UPB).
Opportunistically sold $56 million in floating rate GSE CRT bonds after credit spreads tightened after quarter end.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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