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Why is Pennymac Mortgage Investment Trust (PMT) Stock down?

28 Jul, 2023:

Shares of PennyMac Mortgage Investment Tr fell 8.88% due to weak quarterly results, failing to meet Wall Street's expectations. PennyMac Mortgage outperformed expectations in terms of net loan servicing fees with $108.32 million vs $82.35 million estimate, but fell short in net gains (losses) on loans acquired for sale (gaining $4.45 million vs the estimate of $10 million) and net gain (loss) on investments and financings (losing $2.50 million vs estimate gain of $25.50 million).

https://www.zacks.com/stock/news/2129155/compared-to-estimates-pennymac-mortgage-pmt-q2-earnings-a-look-at-key-metrics

reit_mortgage ARI
$9.85
price down icon 1.30%
reit_mortgage ARR
$18.53
price down icon 0.48%
reit_mortgage TWO
$13.70
price down icon 0.87%
$11.49
price down icon 1.54%
reit_mortgage ABR
$12.27
price down icon 0.73%
$20.74
price down icon 1.52%
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