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Wednesday, Apr 22, 2026

PIMCO Postpones REIT IPO

Newport Beach’s Pacific Investment Management Co., which manages $1.8 trillion in assets, yesterday postponed the initial public offering of its PIMCO Mortgage Income Trust, citing unfavorable market conditions.

It had filed to raise $1.0 billion by offering 50 million shares at a price of $20 and was to be listed under the symbol PMTG.

In recent days, shares of Uber and Lyft have fallen below their IPO offering prices, causing questions about investors’ appetites for new offerings.

A new timeframe for the IPO, initially scheduled to kick off yesterday, has not been disclosed.

Daniel H. Hyman, who is a managing director and co-head of the Agency Mortgage Portfolio Management team at PIMCO, will become chief investment officer at the REIT.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.

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