PennyMac Mortgage Investment Trust is a holding company. Through its subsidiaries, Co. is a finance company that invests primarily in mortgage-related assets. Co. conducts substantially all of its operations, and makes substantially all of its investments, through PennyMac Operating Partnership, L.P. and its subsidiaries. Co.'s business includes three segments: credit sensitive strategies, which includes Co.'s investments in credit risk transfer; interest rate sensitive strategies, which includes Co.'s investments in mortgage servicing rights; and correspondent production, which represents Co.'s operations aimed at serving as an intermediary between lenders and the capital markets. We show 59 historical shares outstanding datapoints in our PMT shares outstanding history coverage, used to compute PMT market cap on those dates.
Understanding the changing numbers of shares outstanding, the changing
share price, and the resulting changing PMT market cap history over the course of time is important for investors
interested in comparing PMT's market cap history versus its peers.
Many "beginner" or "novice" investors will look at one stock trading at a price of $10 per share and another trading at
a price of $20 per share and think the latter company is worth twice as much. Of course, that is a completely meaningless comparison without also knowing how many shares outstanding there are for each of the two companies,
and then calculating their respective market caps. Comparing the share price of PMT versus a peer is one thing; comparing
PMT market cap versus a peer is a completely different story.
Furthermore, via fluctuation both in per-share price and in the number of shares outstanding (via issuance of new shares over time, the repurchase of existing shares),
the market cap for a company like PMT can fluctuate over the course of history.
With this page we aim to empower investors researching PMT by allowing them to research the PMT market cap history. |
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Video: The Importance of Market Cap
