PMT Reports Q1 Net Income of $14 Million, Book Value Drops to $14.98
Reports book value per common share was $14.98 at March 31, down from $15.25 at December 31, 2025. The company said, "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. 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."
