PMT

We take a look at the action in preferreds and baby bonds through the third week of August and highlight some of the key themes we are watching. Preferreds credit spreads remain tight, but median yield-to-worst has risen as long-term rates increase, favoring fixed-rate over floating-rate preferreds in some cases. The Ninth Circuit ruled in favor of PennyMac Mortgage Investment Trust, allowing fixed coupons on LIBOR Fix/Floating preferreds post-LIBOR cessation.

PennyMac Mortgage Investment Trust (PMT) 2030 9% baby bonds (PMTW) offer stability and strong yield amid macro volatility. PMT's Q2 2026 EPS failed to cover the common dividend, and book value declined, but high-ROE segments and asset optimization are underway. PMTW trades with low volatility and an 8.7% yield to maturity, outperforming peer REIT baby bonds despite sector headwinds.

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees has declared cash dividends for the third quarter of 2026 on its 8.125% Series A Preferred Shares (NYSE: PMT PRA), its 8.000% Series B Preferred Shares (NYSE: PMT PRB) and its 6.750% Series C Preferred Shares (NYSE: PMT PRC). In accordance with the terms for each preferred series, the dividend information is as follows: Series   Ticker   Annual Dividend Rate   Div.

BZZUF, GPI and PMT have been added to the Zacks Rank #5 (Strong Sell) List on August 11, 2026.

PennyMac Mortgage Investment Trust (PMT) fixed the rates on its floating rate preferreds, PMT.PR.A and PMT.PR.B, instead of transitioning to a new floating benchmark. Legal action is ongoing as investors have sued PMT over this rate decision, which has left these preferreds with yields similar to the fixed-rate PMT.PR.C. We go over why we believe the A and B shares have a very solid risk-reward here.

PennyMac Mortgage Investment Trust NYSE: PMT reported second-quarter net income of $20 million, or $0.23 per diluted common share, as lower contributions from credit-sensitive and aggregation-and-securitization strategies were partly offset by stronger results in interest-rate-sensitive investments.

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) today reported net income attributable to common shareholders of $20 million, or $0.23 per common share on net investment income of $73 million for the second quarter of 2026. CEO Commentary “PMT generated net income attributable to common shareholders of $20 million in the second quarter, or $0.23 per diluted share, representing an annualized return on common equity of 6%,” said Chairman and CEO David Spe.

PennyMac Mortgage (PMT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees declared a cash dividend of $0.40 per common share of beneficial interest for the second quarter of 2026. This dividend will be paid on July 24, 2026, to common shareholders of record as of July 9, 2026. About PennyMac Mortgage Investment Trust PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residentia.

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) announced today the appointment of Scott Sauer to its Board of Trustees. Mr. Sauer brings more than three decades of sophisticated financial sector experience to the role. "Scott's extensive background steering large-scale institutional financial leadership will bring a valuable perspective to PMT," said David Spector, Chairman and CEO at PMT. "We are pleased to welcome him to the Board of Trustees where h.