Every material Form 8-K PennyMac Mortgage Investment Trust has filed with the SEC since July 23, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
PennyMac Mortgage Investment Trust reported a third-quarter 2026 net loss attributable to common shareholders of $36 million, or $(0.41) per share, compared with $20 million of net income in the prior quarter. The board also raised its share repurchase authorization from $500 million to $630 million, and CEO David Spector said the company expects to reduce its dividend in favor of buybacks; CFO Daniel Perotti will be succeeded by Kevin Ryan on January 1, 2027.
Q3 2026 net loss attributable to common shareholders was $36 million, or $(0.41) per share, versus net income of $20 million in Q2 2026 and $48 million in Q3 2025.
Adjusted EPS was $0.35, up from $0.25 in Q2 2026 but down from $0.37 in Q3 2025.
Book value per share was $14.03 at September 30, 2026, down from $14.83 at the prior quarter end.
Kevin Ryan will become CFO on January 1, 2027; Daniel Perotti resigns as CFO effective December 31, 2026 and will serve in an advisory role. The board raised the buyback authorization to $630 million on October 26, 2026.
PennyMac Mortgage Investment Trust reported second-quarter 2026 net income attributable to common shareholders of $20 million, or $0.23 per diluted share, up from $14 million, or $0.16, in the first quarter. Net investment income fell 11% from the prior quarter to $73 million, and book value per share declined to $14.83 from $14.98. In June the company agreed to sell $13 billion in unpaid principal balance of mortgage servicing rights and stopped acquiring Agency-eligible correspondent loans, which management said would free capital for credit investments.
Net income attributable to common shareholders was $20 million, or $0.23 per diluted share, versus $14 million, or $0.16, in the first quarter of 2026.
Net investment income was $73 million, down 11% from $82 million in the first quarter.
Book value per share was $14.83 at June 30, 2026, down from $14.98 at March 31, 2026; dividends declared were $0.40 per share.
The company agreed to sell $13 billion in unpaid principal balance of mortgage servicing rights, with an expected close at the end of August.
On June 15, 2026, PennyMac Mortgage Investment Trust's board elected Scott Sauer as a Class III trustee and a member of the Risk Committee, with a term running to the 2027 annual meeting. At the June 16, 2026 annual meeting, shareholders voted on three Class II trustee nominees, the ratification of Deloitte & Touche LLP as auditor, and a non-binding say-on-pay proposal.
Sauer's trustee compensation includes a $105,000 annual base retainer, a $7,750 committee retainer, and a one-time $130,000 restricted share unit grant, prorated for days of service.
Shareholders present at the meeting held 70,875,385 of 87,202,362 eligible shares, or 81.3%.
Deloitte & Touche LLP ratification received 68,988,146 votes for and 1,607,824 against for fiscal 2026.
Preston DuFauchard, Nancy McAllister and Stacey D. Stewart were the Class II nominees, with vote totals reported in the filing.
PennyMac Mortgage Investment Trust reported first-quarter 2026 net income attributable to common shareholders of $14.2 million, or $0.16 per share, on net investment income of $82.1 million. That was down from $41.9 million in the fourth quarter of 2025 but up from a loss of $0.8 million in the first quarter of 2025. Book value per common share fell to $14.98 from $15.25, which the company attributed in part to lower contributions from its interest rate sensitive strategies.
Net income attributable to common shareholders was $14.2 million, or $0.16 per share, versus $41.9 million, or $0.48 per share, in the fourth quarter of 2025 and a loss of $0.8 million, or $0.01 per share, in the first quarter of 2025.
Book value per common share was $14.98 at March 31, 2026, down from $15.25 at December 31, 2025.
A cash dividend of $0.40 per common share for the first quarter was declared March 11, 2026 and paid April 24, 2026.
Loans acquired totaled $4.3 billion in unpaid principal balance, down 21% from the prior quarter.
PennyMac Mortgage Investment Trust reported fourth-quarter 2025 net income attributable to common shareholders of $41.9 million, or $0.48 per share, up from $0.41 a year earlier but down from $0.55 in the third quarter. For the full year, earnings fell to $86.1 million, or $0.99 per share, from $1.37 in 2024, while book value per common share declined from $15.87 to $15.25 and full-year dividends totaled $1.60 per share.
Q4 2025 net income attributable to common shareholders was $41.9 million, or $0.48 per share, versus $0.41 in Q4 2024 and $0.55 in Q3 2025.
Full-year 2025 net income attributable to common shareholders was $86.1 million, versus $119.2 million in 2024; diluted EPS was $0.99 versus $1.37.
Book value per common share was $15.25 at December 31, 2025, up from $15.16 at September 30, 2025.
A Q4 2025 cash dividend of $0.40 per common share was paid on January 23, 2026.
PennyMac Mortgage Investment Trust reported third quarter 2025 net income attributable to common shareholders of $47.8 million, or $0.55 per common share, compared with a loss of $2.9 million, or $0.04 per share, in the prior quarter. Book value per common share rose to $15.16 from $15.00 at June 30, 2025, and the company declared a $0.40 per share cash dividend payable October 24, 2025.
Net income attributable to common shareholders was $47.8 million, or $0.55 per share, versus a loss of $2.9 million, or $0.04 per share, in the prior quarter
Net investment income was $99.2 million, up from $70.2 million in the prior quarter
Book value per common share increased to $15.16 at September 30, 2025, from $15.00 at June 30, 2025
Sold remaining opportunistic GSE-issued credit risk transfer investments for $195 million; a $0.40 per share dividend is payable October 24, 2025
PennyMac Mortgage Investment Trust reported a second-quarter 2025 net loss attributable to common shareholders of $2.9 million, or $(0.04) per share, compared with a $775 thousand loss in the first quarter. The company cited fair value declines from interest rate volatility and a $14.0 million non-recurring tax expense, while net investment income rose to $70.2 million and book value per common share fell to $15.00.
Net loss attributable to common shareholders of $2.9 million, or $(0.04) per share, for the quarter ended June 30, 2025, versus a $775 thousand loss, or $(0.01) per share, in the prior quarter and net income of $15.0 million, or $0.17 per s
Net investment income was $70.2 million, up from $44.5 million in the first quarter of 2025.
A non-recurring tax expense of $14.0 million, mainly from repricing deferred tax balances due to state apportionment changes, contributed to the result.
Book value per common share decreased to $15.00 at June 30, 2025, from $15.43 at March 31, 2025. A $0.40 per share dividend is payable July 25, 2025, to shareholders of record as of July 11, 2025.
PennyMac Mortgage Investment Trust closed an underwritten public offering of $105 million in 9.00% senior notes due June 15, 2030, including a partial exercise of the underwriters' over-allotment option. Net proceeds are approximately $101.0 million, or about $110.6 million if the underwriters exercise the remaining over-allotment option in full. The debt adds fixed-rate obligations that shareholders should weigh alongside the company's existing borrowings.
Principal: $105 million, including $5 million from partial over-allotment exercise; remaining $10 million option exercisable over 30 days
Interest at 9.00% per year, paid quarterly starting September 15, 2025; maturity June 15, 2030
Redeemable at 100% of principal plus accrued interest on or after June 15, 2027; change-of-control repurchase at 101%
Notes guaranteed by PennyMac Corp. and expected to begin trading on the NYSE as PMTW within 30 days
PennyMac Mortgage Investment Trust (NYSE: PMT) reported a net loss attributable to common shareholders of $0.8 million, or $(0.01) per diluted share, for the first quarter of 2025, compared with net income of $36.1 million, or $0.41 per diluted share, in the fourth quarter of 2024. The company said income excluding market-driven value changes was strong, but net fair value declines from interest rate volatility and credit spread widening offset it, and book value per common share fell to $15.43 from $15.87.
Net investment income was $44.5 million, down from $107.9 million in the prior quarter.
Book value per common share was $15.43 at March 31, 2025, versus $15.87 at December 31, 2024.
Net loan servicing fees were a loss of $27.2 million, compared with income of $207.4 million in the prior quarter.
A cash dividend of $0.40 per common share is payable April 25, 2025, to holders of record as of April 11, 2025.
PennyMac Mortgage Investment Trust closed an underwritten offering of $172.5 million in 9.00% Senior Notes due 2030 on February 11, 2025, including $22.5 million from the underwriters' full exercise of their over-allotment option. The notes add fixed-rate debt that the company must repay with interest, and they are guaranteed by subsidiary PennyMac Corp.
Notes carry a 9.00% annual interest rate, paid quarterly, with the first payment on May 15, 2025, and maturity on February 15, 2030.
The company may redeem the notes at 100% of principal plus accrued interest on or after February 15, 2027, on at least 30 days' notice.
On a change of control, holders can require repurchase at 101% of principal plus accrued interest.
The notes are approved for listing on the New York Stock Exchange under the symbol PMTV, with trading expected within 30 days.
PennyMac Mortgage Investment Trust reported fourth-quarter 2024 net income attributable to common shareholders of $36.1 million, or $0.41 per diluted share, on net investment income of $107.9 million. For the full year, net income attributable to common shareholders fell to $119.2 million, or $1.37 per diluted share, from $157.8 million, or $1.63, in 2023.
Q4 2024 diluted EPS of $0.41, up from $0.36 in Q3 2024 but below $0.44 in Q4 2023
Full-year 2024 net investment income of $334.2 million, down from $429.0 million in 2023
Book value per common share rose to $15.87 at December 31, 2024, from $15.85 at September 30, 2024
Q4 2024 cash dividend of $0.40 per common share was paid on January 24, 2025
PennyMac Mortgage Investment Trust, through indirect subsidiaries, entered into a new Series 2024-VF2 variable funding note with Citibank on December 20, 2024. The note supports the structured finance transaction that PennyMac Corp. uses to finance Fannie Mae mortgage servicing rights and related assets. The filing shows a maximum principal balance of $1 billion and an aggregate committed amount of $500 million, which adds borrowing capacity tied to the company's servicing portfolio.
Series 2024-VF2 Note with Citibank, N.A., dated December 20, 2024
Maximum principal balance of $1 billion; aggregate committed amount of $500 million
Initial term set to expire on June 26, 2026
Note is pari passu with other variable funding notes, term notes, and term loans in the structured finance transaction
On December 16, 2024, PennyMac Mortgage Investment Trust and its subsidiaries entered into five amended and restated agreements with affiliates, including a management agreement with PNMAC Capital Management and servicing agreements with PennyMac Loan Services. The agreements were approved by the board's independent Related Party Matters Committee and were amended mainly to extend terms beyond the originally scheduled June 30, 2025 expiration and to modify certain fees, which changes the cost structure shareholders pay for management and servicing.
Management and 5th A&R servicing agreements now expire December 31, 2029, with automatic 18-month renewals unless terminated.
Base management fee is 1.5% per year on shareholders' equity up to $2 billion, 1.375% on the portion from $2 billion to $5 billion, and 1.25% above $5 billion, paid in cash.
Performance incentive fee is now payable annually and in arrears, rather than quarterly, and may be paid in cash or in common shares up to 50%.
Termination fee equals three times the average annual base management fee and performance incentive fee over the prior 24 months, in certain circumstances.
PennyMac Mortgage Investment Trust reported third-quarter 2024 net income attributable to common shareholders of $31.0 million, or $0.36 per diluted share, up from $15.0 million, or $0.17 per share, in the prior quarter. Book value per common share slipped to $15.85 from $15.89, and the company declared a $0.40 per share cash dividend payable October 25, 2024.
Net income attributable to common shareholders was $31.0 million, or $0.36 per diluted share, for the quarter ended September 30, 2024, compared with $15.0 million, or $0.17 per share, in the June 30, 2024 quarter.
Net investment income was $80.9 million, up from $71.2 million in the prior quarter but down from $163.4 million a year earlier.
Book value per common share decreased slightly to $15.85 at September 30, 2024, from $15.89 at June 30, 2024.
The $0.40 per share dividend will be paid October 25, 2024, to shareholders of record as of October 11, 2024.
William Chang will step down as Senior Managing Director and Chief Investment Officer of PennyMac Mortgage Investment Trust effective October 11, 2024, to pursue other interests in the mortgage banking industry. Mark Elbaum will take on the CIO responsibilities on an interim basis, and also the Chief Capital Markets Officer role at PennyMac Financial Services, Inc.
Chang announced his departure on September 27, 2024; it takes effect October 11, 2024.
Mark Elbaum will serve as interim Chief Investment Officer of PMT upon Chang's departure.
Chairman and CEO David Spector said he asked Elbaum to step into the roles on an interim basis to ensure a smooth transition.
PennyMac Mortgage Investment Trust reported net income attributable to common shareholders of $15.0 million, or $0.17 per diluted share, for the quarter ended June 30, 2024, on net investment income of $71.2 million. Both measures were lower than in the prior quarter, when net income attributable to common shareholders was $37.2 million and net investment income was $74.2 million. Book value per common share fell slightly to $15.89 from $16.11 at March 31, 2024.
Net income attributable to common shareholders was $15.0 million, or $0.17 per diluted share, versus $37.2 million in the first quarter of 2024.
Net investment income was $71.2 million, compared with $74.2 million in the first quarter of 2024.
Book value per common share was $15.89 at June 30, 2024, down from $16.11 at March 31, 2024.
A cash dividend of $0.40 per common share will be paid on July 26, 2024, to holders of record as of July 12, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every PennyMac Mortgage Investment Trust filing is on SEC EDGAR ↗. 8-K briefs of other companies →