PMT / PennyMac: And Now For Something Different For Preferred Holders

PennyMac Mortgage (PMT) came out with quarterly earnings of $0.51 per share, beating the Zacks Consensus Estimate of $0.28 per share. This compares to more_horizontal

PennyMac Mortgage has announced that its preferred securities will not transition to a floating rate and will remain pegged to existing fixed rates. T more_horizontal

PennyMac Mortgage Investment Trust announced plans to use fixed-rate dividends instead of floating rates for its preferred shares. The announcement co more_horizontal

PennyMac Mortgage Investment Trust announces that two of its preferred shares will not transition to a floating reference rate, impacting their divide more_horizontal

PennyMac didn't earn enough in Q2 to cover its dividend. Investors should exercise caution if they're thinking of buying the shares. more_horizontal

While the top- and bottom-line numbers for PennyMac Mortgage (PMT) give a sense of how the business performed in the quarter ended June 2023, it could more_horizontal

PennyMac Mortgage (PMT) came out with quarterly earnings of $0.16 per share, missing the Zacks Consensus Estimate of $0.39 per share. This compares to more_horizontal

Several REIT preferred issues have converted from fixed to floating interest rates, paying dividends at 3-month LIBOR plus 350 to 600 basis points. Th more_horizontal