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Pennymac Mortgage Investment Trust's Series A Preferred Shares Yield Pushes Past 9%By Preferred Stock Channel Staff, Friday, September 1, 2:15 PM ETIn trading on Friday, shares of Pennymac Mortgage Investment Trust's 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (NYSE:PMT.PRA) were yielding above the 9% mark based on its quarterly dividend (annualized to $2.0313), with shares changing hands as low as $22.38 on the day. This compares to an average yield of 7.98% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, PMT.PRA was trading at a 9.32% discount to its liquidation preference amount, versus the average discount of 16.38% in the "Real Estate" category. The chart below shows the one year performance of PMT.PRA shares, versus PMT:
Below is a dividend history chart for PMT.PRA, showing historical dividend payments on Pennymac Mortgage Investment Trust's 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest:
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter In Friday trading, Pennymac Mortgage Investment Trust's 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (NYSE:PMT.PRA) is currently off about 1.3% on the day, while the common shares (NYSE:PMT) are up about 0.6%.
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