PIMCO Mortgage Income Trust Postponed, NYSE: PMTG

Newly formed residential mortgage REIT managed by PIMCO.

Industry: Financials

Latest Trade: ()

First Day Return:

Return from IPO:

Industry: Financials

We are a newly organized real estate finance company that intends to acquire, manage and finance, directly or through our subsidiaries, our Target Assets. We are externally managed by PIMCO, an investment adviser registered with the SEC pursuant to the Advisers Act. We intend to elect and qualify to be taxed as a REIT commencing with our taxable year ending December 31, 2019. We seek to provide attractive risk-adjusted returns to our stockholders over the long term, primarily through dividends and distributions and secondarily through capital appreciation. We expect our initial portfolio will consist primarily of Agency RMBS (including TBAs) and, to a lesser extent over time, Excess MSRs and residential mortgage loans. We believe that the depth and liquidity of the Agency RMBS market, including the TBA market, will allow us to deploy a significant portion of the net proceeds of this offering in a relatively short period of time. In particular, upon completion of this offering, we expect to purchase a significant amount of TBAs in the near term to accelerate the construction of our initial portfolio, often taking physical delivery of the underlying Agency RMBS and settling our obligations for cash provided from this offering and/or with borrowings under repurchase agreements. However, we may also utilize TBA dollar roll transactions as a means of investing in and financing Agency RMBS.
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IPO News for PIMCO Mortgage Income Trust
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IPO Data
IPO File Date 04/18/2019
Offer Price
Price Range $20.00 - $20.00
Offer Shares (mm) 50.0
Deal Size ($mm) $1,000
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date
Offer Price
Price Range $20.00 - $20.00
Offer Shares (mm) 50.0
Deal Size ($mm) $1,000
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Newport Beach, CA
Founded 2018
Employees 0
Website www.pimcoreit.com