Happy 18th Birthday to PennyMac! 🥳

Today marks a special milestone for one of my favorite mREITs, PennyMac Mortgage Investment Trust ($PMT)! Today, she turns 18 (chartered January 9, 2008, born at the start of the Great Financial Crisis). From the ashes of 2008 to mid-cap leader today, PennyMac is living proof of the little REIT who could. How I’m Celebrating: • Bought 18 shares of PMT at the NYSE Opening Bell this morning to mark her coming of age. • Position screenshots below, yes, I’m holding shares! • Green candles at $13.08 closing price (+2.51% today)! • Dividend payment incoming Jan 23 ($4.81 on 12.03 shares, for DRIP) Quick Facts About PennyMac Mortgage Investment Trust • Ticker: $PMT • IPO: July 30, 2009 ($19.00); volatility survivor • Closing price: $13.08 (+2.51% today) • Dividend Yield: 12.54% (quarterly) • Market cap: $1.14B (small but mighty) • Q4 dividend: $0.40/share, next payment Jan 23 • Business: Lends, securitizes, & services mortgages, manages credit risk, pays solid yield for the risk Why I Like PennyMac: • Grew up in and survived 2008, rose to a solid mREIT with a strong management team (ex-Countrywide execs, but they actually learned their lesson) • Outperforms on yield, disciplined about leverage, not afraid to return capital to shareholders • Quietly grinding while the big names get all the hype • Just had a birthday rally (+2.51% for PMT, +6.43% for equity arm $PFSI) • Relatively reliable dividends, steady price, not a meme, but still a legend in my book Screenshots: 1. PMT Closing Price 2. My current position of 30+ shares of PMT 3. Filled Robinhood 18 share Opening Bell market order Here’s to 18 years of PennyMac! Still young, still growing, and still paying me to hold. May your tranches be AAA-rated. (Not financial advice, just a trader’s appreciation for a young but mighty mREIT.)