In trading on Monday, Pennymac Mortgage Investment Trust’s 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares (Symbol: PMT.PRA) were yielding over 9%, based on an annualized dividend of $2.0313, with shares trading as low as $22.51. This yield surpasses the average of 8.29% for the “Real Estate” preferred stock category.
As of the last close, PMT.PRA was priced at an 8.96% discount to its liquidation preference, compared to the average discount of 16.31% in the same category. On the day, PMT.PRA was down approximately 0.6%, while the common shares (Symbol: PMT) increased by around 1%.
