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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 7:21 AM

Slide #70. PennyMac Mortgage Investment Trust Preferred Stock Offering

Company: PennyMac Mortgage Investment Trust (NYSE:PMT)
Date announced: 3/2/2017
Shares Offered: 4,600,000
Date of Pricing: 3/2/2017
Price Per Share: $25.00
Preferred Stock Offering Details: PennyMac Mortgage Investment Trust (NYSE:PMT) (the "Company") today announced the pricing of its underwritten public offering of 4,600,000 of its 8.125 percent Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (the "Series A Preferred Shares"), liquidation preference $25.00 per share, for gross proceeds of $115 million, before deducting underwriting discounts and commissions and other estimated offering expenses. The Company intends to apply to list the Series A Preferred Shares on the New York Stock Exchange under the symbol "PMT PrA." The offering is expected to close on March 9, 2017, subject to customary closing conditions. The Company has granted the underwriters an option for 30 days to purchase up to an additional 690,000 Series A Preferred Shares to cover over-allotments, if any.

PennyMac Mortgage Investment Trust is a holding company and a finance company that invests primarily in residential mortgage loans and mortgage-related assets. Co. has two segments: correspondent production and investment activities. Co.'s targeted investments are in the U.S. mortgage market, including credit sensitive assets such as distressed mortgage loans, credit risk transfer securities related to its correspondent production, non-agency subordinate bonds, small-balance commercial real estate loans and subordinate interests; and interest rate sensitive assets such as mortgage servicing rights, excess servicing spread, mortgage-backed securities (MBS), and non-agency senior MBS.
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Name: Pennymac Mortgage Investment Trust
Website: pennymacmortgageinvestmenttrust.com
Sector: REITs
Number of ETFs Holding PMT: 29 (see which ones)
Total Market Value Held by ETFs: $94,301,479
Total Market Capitalization: $1,021,000,000
% of Market Cap. Held by ETFs: 9.24%

Open the PMT Page at Ru Back Packer (in a new window) »

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