PMTU

PennyMac Mortgage Investment Trust 8.50% Senior Notes due 2028

PMTU

Market cap $55M

Overview Fund Activity

25.69 USD

+0.01

0.04%

At close Updated Sep 10, 4:00 PM EDT

1 day

0.04%

5 days

0.35%

1 month

0.71%

3 months

0.63%

6 months

0.23%

Year to date

1.38%

1 year

-1.38%

5 years

5.07%

10 years

5.07%

Real Estate Diversified REIT

0

Funds holding %

of 7,460 funds

–

Analysts bullish %

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

0.02% more ownership

Funds ownership: 0% [Q1] → 0.02% (+0.02%) [Q2]

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Financial journalist opinion

PennyMac Mortgage Investment Trust (PMT) Presents At Barclays 23rd Annual Global Financial Services Conference Transcript

PennyMac Mortgage Investment Trust (NYSE:PMT ) Barclays 23rd Annual Global Financial Services Conference September 8, 2025 2:45 PM EDT Company Participants David Spector - CEO & Chairman Daniel Perotti - Senior MD & CFO Conference Call Participants Terry Ma - Barclays Bank PLC, Research Division Presentation Terry Ma Research Analyst All right. I think we'll get started.

PennyMac Mortgage Investment Trust (PMT) Presents At Barclays 23rd Annual Global Financial Services Conference Transcript

Keep Calm And Buy Preferred Stocks; Yields +9%

Some of the most enduring inventions in history continue to be adopted and function as intended. I don't like to babysit my investments; fixed-income makes an excellent fit for my no-drama income needs. We discuss our top picks from both ends of the spectrum of preferred securities with yields of +9%.

Keep Calm And Buy Preferred Stocks; Yields +9%

New Preferred Stock IPOs - June 2025

We tracked three new preferred stock and ETD offerings this month, with yields from 6.875% to 10%, highlighting KKR, MicroStrategy, and PennyMac. KKR's new subordinated notes stand out with a perfect compliance score, BBB+ rating, and a 6.875% yield, making it a top-quality pick. MicroStrategy's new non-cumulative preferred offers a high yield but lacks mandatory dividends, while insider buying signals confidence.

New Preferred Stock IPOs - June 2025

Floating Preferreds Have Monstrous Yields Due To Timing Phenomenon

Floating rate preferreds, initially created in a zero interest rate environment, now yield around 10% due to the timing phenomenon and changes in interest rates. Key factors for analysis include company stability, size of preferred issue relative to common equity, discount/premium to par value, and adjustment above SOFR. Risks include rapid yield curve fluctuations and potential Fed rate cuts, which could lower SOFR and subsequently reduce yields on floating rate preferreds.

Floating Preferreds Have Monstrous Yields Due To Timing Phenomenon

Preferreds/Bond Weekly Review: Couple Of New Issues

We take a look at the action in preferreds and baby bonds through the first week of March and highlight some of the key themes we are watching. Most preferreds sectors declined due to rising Treasury yields and wider spreads, reflecting weaker risk sentiment and lower equity prices. PennyMac Mortgage Investment Trust issued a new 9% 2030 bond, trading at an 8.35% yield, offering a stable book value profile.

Preferreds/Bond Weekly Review: Couple Of New Issues

9% Yields From Baby Bonds

Yield to maturity is crucial in baby bond analysis. Yield to call can also be relevant when call risk is more relevant. We're starting with a hypothetical for demonstrating a key point, then we'll look at two baby bonds as they are trading today. Market inefficiencies can arise from liquidity issues, creating trading opportunities between similar preferred shares or baby bonds.

9% Yields From Baby Bonds

PennyMac Mortgage Investment Trust: Best Preferred Share Is Series C, Yielding 8.5%

PennyMac Mortgage Investment Trust offers a diversified investment strategy, balancing loans, mortgage-backed securities, servicing, and CRT investments, mitigating risks from interest rate fluctuations. Despite a tempting 11.75% dividend yield on common shares, rising delinquency rates and high interest rates pose unique risks. The Series C preferred shares offer a more attractive and stable 8.5% yield, making them a superior option for income investors.

PennyMac Mortgage Investment Trust: Best Preferred Share Is Series C, Yielding 8.5%

Select High Yield Preferreds Remain Opportunistically Priced

Recent macroeconomic changes, including the yield curve uninverting and Fed rate cuts, have significantly impacted REIT preferreds, leading to price increases and varied forward return potentials. Despite overall price rises, select REIT preferreds remain deeply discounted, offering high yields and substantial capital appreciation potential. Mispricing due to accrued dividends and variable rate conversions presents lucrative opportunities in preferreds.

Select High Yield Preferreds Remain Opportunistically Priced

PennyMac Mortgage Investment Trust: Series C Preferred Shares Offer 8.2% Dividend Yield

PennyMac Mortgage Investment Trust's Series C preferred shares offer an 8.2% dividend yield and are recommended over other options due to their discount and income potential. Despite interest rate volatility, PennyMac's net income covers preferred dividends, with improved net interest income from higher rate mortgage investments. Mortgage servicing is cash flow positive, with 98% of serviced mortgages insured by Fannie Mae and Freddie Mac.

PennyMac Mortgage Investment Trust: Series C Preferred Shares Offer 8.2% Dividend Yield

The Dangers Of High Yield Preferreds

Some high yield preferreds offer stable double-digit yields and potential for capital gains, trading at discounts to par value. Preferreds are paid through dividends, liquidation preference, and redemption, but sit below debt in the capital stack, making them riskier than bonds. Risks include lack of equity cushion, business volatility, and bad actor risk, highlighting the importance of thorough research and caution when investing in preferreds.

The Dangers Of High Yield Preferreds

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