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The latest update is out from PennyMac Mortgage ( (PMT) ).
On December 22, 2025, PennyMac Corp., an indirect wholly owned subsidiary of PennyMac Mortgage Investment Trust, issued an additional $75 million of its 8.500% Exchangeable Senior Notes due 2029 in a registered direct placement, bringing the total outstanding principal of this series to $366.5 million. The notes, which are senior unsecured obligations fully and unconditionally guaranteed by the trust, mature on June 1, 2029, pay semiannual interest at 8.500%, and are exchangeable at an initial rate equivalent to an exchange price of about $15.79 per common share, with certain adjustment and make-whole features tied to corporate events. PennyMac expects to use the roughly $75.6 million in net proceeds primarily to repay borrowings under secured mortgage servicing rights and servicing advance facilities, to repurchase or repay a portion of its 5.50% Exchangeable Senior Notes due 2026, and for general corporate purposes, highlighting an ongoing effort to refinance nearer-term debt and optimize its capital structure while maintaining flexibility for both debt and equity settlement upon exchange.
The most recent analyst rating on (PMT) stock is a Hold with a $13.50 price target. To see the full list of analyst forecasts on PennyMac Mortgage stock, see the PMT Stock Forecast page.
Spark’s Take on PMT Stock
According to Spark, TipRanks’ AI Analyst, PMT is a Neutral.
The overall stock score reflects a challenging financial environment with high leverage and declining revenue growth, partially offset by positive technical indicators and a strong dividend yield. The company’s ability to manage debt and improve cash flow will be crucial for future performance.
To see Spark’s full report on PMT stock, click here.
More about PennyMac Mortgage
PennyMac Mortgage Investment Trust operates as a real estate investment trust focused on mortgage-related assets and financing, with its indirect, wholly owned subsidiary PennyMac Corp. issuing exchangeable senior notes as part of the group’s broader capital markets and funding strategy in the U.S. mortgage finance sector.
Average Trading Volume: 946,887
Technical Sentiment Signal: Strong Buy
Current Market Cap: $1.15B
For a thorough assessment of PMT stock, go to TipRanks’ Stock Analysis page.