PennyMac Mortgage Investment Trust (NYSE: PMT) reported its financial results for the fiscal quarter ended September 30, 2026, in a press release dated October 29, 2026. The company reported a net loss attributable to common shareholders of $36 million, or $(0.41) per common share, on net investment income of $36 million for the quarter. Adjusted net income attributable to common shareholders was $30 million, or $0.35 in adjusted earnings per share (EPS).
The company also announced several leadership changes. Daniel S. Perotti, the Senior Managing Director and Chief Financial Officer, will resign from his role as CFO as of December 31, 2026, but will remain with the company in an advisory role. Kevin Ryan, age 55, the Executive Managing Director and Chief Strategy Officer, will be appointed CFO effective January 1, 2027. Mr. Ryan previously served as President and CFO at Better Home & Finance Holding Company and held executive positions at Morgan Stanley.
In addition, Doug Jones, President and Chief Mortgage Banking Officer, announced his retirement effective June 30, 2027. The company’s Board of Trustees approved an increase to its share repurchase authorization from $500 million to $630 million. The company stated that the timing and amount of repurchases will be based on market conditions and capital availability.
Regarding portfolio performance, the company noted a reduction in book value by approximately 5% due to widening mortgage spreads and rising benchmark interest rates. The company completed eight securitizations and retained $167 million in senior and subordinate investments. The company also sold $13 billion in unpaid principal balance (UPB) of Agency mortgage servicing rights (MSRs) and entered into an agreement to sell an additional $10 billion in UPB of Agency MSRs with an expected close in the fourth quarter.
