Shares of Pennymac Mortgage Investment Trust’s 6.75% Series C Cumulative Preferred Shares (PMT.PRC) yielded over 9.5% on Friday, also trading as low as $17.73. This is considerably higher than the average yield of 8.09% for preferred stocks in the real estate category, as reported by Preferred Stock Channel.
As of the last close, PMT.PRC was priced at a 28.76% discount to its liquidation preference, significantly greater than the average discount of 14.23% within the same sector. Meanwhile, the common shares (PMT) saw an increase of 1.6% during the same trading session.
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