On Thursday, shares of Pennymac Mortgage Investment Trust’s 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares (PMT.PRB) were yielding over 8.5% with shares trading as low as $23.40, based on an annualized dividend of $2.00. This yield surpasses the average of 7.87% in the “Real Estate” preferred stock category, according to Preferred Stock Channel.
As of the last close, PMT.PRB was trading at a 4.80% discount to its liquidation preference amount, compared to an average discount of 11.99% within the same category. During Thursday’s trading, PMT.PRB was down about 1.1% for the day, while the common shares (PMT) experienced a slight decrease of 0.1%.
