NYSE:PMM

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Putnam Managed Municipal Income Trust

Executive Summary

Putnam Managed Municipal Income Trust is a close-ended fixed income mutual fund launched and managed by Putnam Investment Management LLC. More Details


Snowflake Analysis

Share Price & News

How has Putnam Managed Municipal Income Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PMM is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: PMM's weekly volatility (2%) has been stable over the past year.


Market Performance


7 Day Return

-1.5%

PMM

-2.6%

US Capital Markets

-3.6%

US Market


1 Year Return

2.4%

PMM

38.2%

US Capital Markets

36.5%

US Market

Return vs Industry: PMM underperformed the US Capital Markets industry which returned 38.1% over the past year.

Return vs Market: PMM underperformed the US Market which returned 36.4% over the past year.


Shareholder returns

PMMIndustryMarket
7 Day-1.5%-2.6%-3.6%
30 Day-0.4%8.2%2.7%
90 Day2.6%16.2%7.5%
1 Year7.7%2.4%41.5%38.2%39.5%36.5%
3 Year34.4%15.4%39.5%29.2%53.5%43.6%
5 Year42.0%9.4%140.6%110.9%117.5%93.2%

Long-Term Price Volatility Vs. Market

How volatile is Putnam Managed Municipal Income Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Putnam Managed Municipal Income Trust undervalued compared to its fair value and its price relative to the market?

62.92x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PMM ($8.15) is trading above our estimate of fair value ($1.11)

Significantly Below Fair Value: PMM is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PMM is poor value based on its PE Ratio (62.9x) compared to the US Capital Markets industry average (23.5x).

PE vs Market: PMM is poor value based on its PE Ratio (62.9x) compared to the US market (21.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PMM's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PMM is good value based on its PB Ratio (1x) compared to the US Capital Markets industry average (14.4x).

Future Growth

How is Putnam Managed Municipal Income Trust forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

13.8%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Putnam Managed Municipal Income Trust has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Putnam Managed Municipal Income Trust performed over the past 5 years?

-21.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PMM has a large one-off loss of $8.6M impacting its October 31 2020 financial results.

Growing Profit Margin: PMM's current net profit margins (31.6%) are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: PMM's earnings have declined by 21.2% per year over the past 5 years.

Accelerating Growth: PMM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PMM had negative earnings growth (-85.3%) over the past year, making it difficult to compare to the Capital Markets industry average (9%).


Return on Equity

High ROE: PMM's Return on Equity (1.6%) is considered low.

Financial Health

How is Putnam Managed Municipal Income Trust's financial position?


Financial Position Analysis

Short Term Liabilities: PMM's short term assets ($7.1M) do not cover its short term liabilities ($12.3M).

Long Term Liabilities: PMM's short term assets ($7.1M) do not cover its long term liabilities ($31.4M).


Debt to Equity History and Analysis

Debt Level: PMM's debt to equity ratio (6.5%) is considered satisfactory.

Reducing Debt: PMM's debt to equity ratio has increased from 2.4% to 6.5% over the past 5 years.

Debt Coverage: Insufficient data to determine if PMM's debt is well covered by operating cash flow.

Interest Coverage: PMM earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Dividend

What is Putnam Managed Municipal Income Trust current dividend yield, its reliability and sustainability?

4.71%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: PMM's dividend (4.71%) is higher than the bottom 25% of dividend payers in the US market (1.34%).

High Dividend: PMM's dividend (4.71%) is in the top 25% of dividend payers in the US market (3.77%)


Stability and Growth of Payments

Stable Dividend: PMM's dividends per share have been stable in the past 10 years.

Growing Dividend: PMM's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (296.4%), PMM's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

How experienced are the management team and are they aligned to shareholders interests?

14.3yrs

Average board tenure


CEO

Putnam Managed Municipal Income Trust has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
Robert Reynolds
President and Interested Trustee12.42yrsno datano data
John Hill
Independent Trustee36.08yrsUS$3.56kno data
Jameson Baxter
Chairman10.08yrsUS$3.64kno data
Paul Joskow
Independent Trustee24.08yrsUS$2.61kno data
Robert Patterson
Independent Trustee37.08yrsUS$3.07kno data
George Putnam
Independent Trustee37.08yrsUS$2.95kno data
William Stephens
Independent Trustee11.75yrsUS$2.58kno data
Ravindranath Akhoury
Independent Trustee12yrsUS$1.92kno data
Barbara Baumann
Independent Trustee10.58yrsUS$1.92kno data
Charles Curtis
Independent Trustee20.08yrsUS$2.50kno data
Robert Darretta
Independent Trustee13.58yrsUS$1.92kno data
Kenneth Leibler
Independent Trustee15.08yrsUS$2.08kno data

14.3yrs

Average Tenure

73yo

Average Age

Experienced Board: PMM's board of directors are seasoned and experienced ( 14.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Putnam Managed Municipal Income Trust's company bio, employee growth, exchange listings and data sources


Key Information


Location

  • Putnam Managed Municipal Income Trust
  • 100 Federal Street
  • Boston
  • Massachusetts
  • 2110
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PMMNYSE (New York Stock Exchange)YesCommon SharesUSUSDFeb 1989

Biography

Putnam Managed Municipal Income Trust is a close-ended fixed income mutual fund launched and managed by Putnam Investment Management LLC. It is co-managed by Putnam Investments Limited. The fund invests in...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/02/28 23:09
End of Day Share Price2021/02/26 00:00
Earnings2020/10/31
Annual Earnings2020/10/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.