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PIMCO Municipal Income Fund III

NYSE:PMX
Snowflake Description

Second-rate dividend payer with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PMX
NYSE
$401M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

PIMCO Municipal Income Fund III is a closed-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. The last earnings update was 17 days ago. More info.


Add to Portfolio Compare Print
  • PIMCO Municipal Income Fund III is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
PMX Share Price and Events
7 Day Returns
-1.4%
NYSE:PMX
2.6%
US Capital Markets
2.9%
US Market
1 Year Returns
9.9%
NYSE:PMX
-12.8%
US Capital Markets
1.4%
US Market
PMX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PIMCO Municipal Income Fund III (PMX) -1.4% 4.7% 10.7% 9.9% 2.7% 11.3%
US Capital Markets 2.6% 1.6% 8.6% -12.8% 54.6% 55.6%
US Market 2.9% 2.5% 10% 1.4% 38.3% 42%
1 Year Return vs Industry and Market
  • PMX outperformed the Capital Markets industry which returned -12.8% over the past year.
  • PMX outperformed the Market in United States of America which returned 1.4% over the past year.

PMX Value

 Is PIMCO Municipal Income Fund III undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for PIMCO Municipal Income Fund III. This is due to cash flow or dividend data being unavailable. The share price is $12.2.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for PIMCO Municipal Income Fund III's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PIMCO Municipal Income Fund III's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:PMX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.05
NYSE:PMX Share Price ** NYSE (2019-03-15) in USD $12.2
United States of America Capital Markets Industry PE Ratio Median Figure of 76 Publicly-Listed Capital Markets Companies 24.89x
United States of America Market PE Ratio Median Figure of 3,054 Publicly-Listed Companies 17.61x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of PIMCO Municipal Income Fund III.

NYSE:PMX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:PMX Share Price ÷ EPS (both in USD)

= 12.2 ÷ 0.05

223.78x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PIMCO Municipal Income Fund III is overvalued based on earnings compared to the US Capital Markets industry average.
  • PIMCO Municipal Income Fund III is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does PIMCO Municipal Income Fund III's expected growth come at a high price?
Raw Data
NYSE:PMX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 223.78x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Capital Markets Industry PEG Ratio Median Figure of 33 Publicly-Listed Capital Markets Companies 2.2x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for PIMCO Municipal Income Fund III, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on PIMCO Municipal Income Fund III's assets?
Raw Data
NYSE:PMX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $10.49
NYSE:PMX Share Price * NYSE (2019-03-15) in USD $12.2
United States of America Capital Markets Industry PB Ratio Median Figure of 148 Publicly-Listed Capital Markets Companies 4.9x
United States of America Market PB Ratio Median Figure of 5,152 Publicly-Listed Companies 1.87x
NYSE:PMX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:PMX Share Price ÷ Book Value per Share (both in USD)

= 12.2 ÷ 10.49

1.16x

* Primary Listing of PIMCO Municipal Income Fund III.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PIMCO Municipal Income Fund III is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess PIMCO Municipal Income Fund III's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. PIMCO Municipal Income Fund III has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PMX Future Performance

 How is PIMCO Municipal Income Fund III expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 PIMCO Municipal Income Fund III 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.4%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PIMCO Municipal Income Fund III expected to grow at an attractive rate?
  • Unable to compare PIMCO Municipal Income Fund III's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare PIMCO Municipal Income Fund III's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare PIMCO Municipal Income Fund III's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NYSE:PMX Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.4%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:PMX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:PMX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 32 -29 2
2018-09-30 31 8
2018-06-30 30 14
2018-03-31 30 25
2017-12-31 30 35
2017-09-30 30 16
2017-06-30 31 -2
2017-03-31 30 4
2016-12-31 30 9

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if PIMCO Municipal Income Fund III is high growth as no earnings estimate data is available.
  • Unable to determine if PIMCO Municipal Income Fund III is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:PMX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from PIMCO Municipal Income Fund III Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:PMX Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.05
2018-09-30 0.24
2018-06-30 0.43
2018-03-31 0.75
2017-12-31 1.06
2017-09-30 0.50
2017-06-30 -0.06
2017-03-31 0.11
2016-12-31 0.28

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if PIMCO Municipal Income Fund III will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess PIMCO Municipal Income Fund III's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
PIMCO Municipal Income Fund III has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PMX Past Performance

  How has PIMCO Municipal Income Fund III performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare PIMCO Municipal Income Fund III's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PIMCO Municipal Income Fund III's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • PIMCO Municipal Income Fund III's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • PIMCO Municipal Income Fund III's 1-year earnings growth is negative, it can't be compared to the US Capital Markets industry average.
Earnings and Revenue History
PIMCO Municipal Income Fund III's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from PIMCO Municipal Income Fund III Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:PMX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 31.68 1.80 4.24
2018-09-30 31.04 8.04 4.18
2018-06-30 30.41 14.29 4.12
2018-03-31 30.36 24.61 4.17
2017-12-31 30.32 34.93 4.23
2017-09-30 30.43 16.45 4.22
2017-06-30 30.55 -2.03 4.22
2017-03-31 30.23 3.56 4.23
2016-12-31 29.91 9.16 4.25
2015-12-31 30.97 57.34 4.38
2015-09-30 29.85 27.73 4.18
2015-06-30 29.57 42.48 4.18
2015-03-31 29.29 57.22 4.17
2014-12-31 29.03 61.04 4.10
2014-09-30 28.77 64.85 4.04
2014-06-30 28.56 30.40 4.02
2014-03-31 28.35 -4.05 4.01
2013-12-31 28.60 -11.85 4.09
2013-09-30 28.85 -19.65 4.17
2013-06-30 29.60 14.92 4.16
2013-03-31 30.35 49.50 4.15
2012-12-31 30.73 59.84 4.03
2012-09-30 31.12 70.17 3.91
2012-06-30 31.44 75.56 3.85
2012-03-31 31.77 80.95 3.78

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • PIMCO Municipal Income Fund III has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • PIMCO Municipal Income Fund III used its assets less efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • PIMCO Municipal Income Fund III has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess PIMCO Municipal Income Fund III's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PIMCO Municipal Income Fund III has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PMX Health

 How is PIMCO Municipal Income Fund III's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up PIMCO Municipal Income Fund III's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PIMCO Municipal Income Fund III's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • PIMCO Municipal Income Fund III's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of PIMCO Municipal Income Fund III's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PIMCO Municipal Income Fund III Company Filings, last reported 2 months ago.

NYSE:PMX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 500.32 146.48 0.00
2018-09-30 500.32 146.48 0.00
2018-06-30 543.81 139.00
2018-03-31 543.81 139.00
2017-12-31 552.13 60.15 0.09
2017-09-30 552.13 60.15 0.09
2017-06-30 550.58 42.84 0.50
2017-03-31 550.58 42.84 0.50
2016-12-31 538.46 38.28 0.55
2015-12-31 552.85 26.13 0.55
2015-09-30 544.37 26.16 0.57
2015-06-30 544.37 26.16 0.57
2015-03-31 551.56 28.51 0.37
2014-12-31 551.56 28.51 0.37
2014-09-30 540.14 28.48 0.54
2014-06-30 540.14 28.48 0.54
2014-03-31 517.86 28.42 0.52
2013-12-31 517.86 28.42 0.52
2013-09-30 500.23 28.42 0.15
2013-06-30 500.23 28.42 0.15
2013-03-31 548.22 30.92 0.58
2012-12-31 548.22 30.92 0.58
2012-09-30 546.14 32.12 3.81
2012-06-30 546.14 32.12 3.81
2012-03-31 524.96 32.12 0.08
  • PIMCO Municipal Income Fund III's level of debt (29.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (5.5% vs 29.3% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 11.1x coverage).
X
Financial health checks
We assess PIMCO Municipal Income Fund III's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. PIMCO Municipal Income Fund III has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PMX Dividends

 What is PIMCO Municipal Income Fund III's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.48%
Current annual income from PIMCO Municipal Income Fund III dividends.
If you bought $2,000 of PIMCO Municipal Income Fund III shares you are expected to receive $110 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • PIMCO Municipal Income Fund III's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • PIMCO Municipal Income Fund III's dividend is above the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:PMX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:PMX Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-01 0.669 5.444
2019-02-01 0.669 5.606
2019-01-02 0.669 5.798
2018-12-03 0.669 5.930
2018-11-01 0.669 6.057
2018-10-01 0.669 6.047
2018-09-04 0.669 5.835
2018-08-01 0.669 5.785
2018-07-02 0.669 5.755
2018-06-01 0.669 5.800
2018-05-01 0.669 5.864
2018-04-02 0.669 5.890
2018-03-01 0.669 6.030
2018-01-03 0.669 5.966
2017-12-01 0.669 5.712
2017-11-01 0.669 5.698
2017-10-02 0.669 5.653
2017-09-01 0.669 5.598
2017-08-01 0.669 5.603
2017-07-03 0.669 5.638
2017-06-01 0.669 5.696
2017-05-01 0.669 5.797
2017-04-03 0.669 5.863
2017-03-01 0.669 5.929
2017-02-01 0.669 5.848
2017-01-03 0.748 6.400
2016-12-01 0.748 6.688
2016-11-01 0.748 6.514
2016-10-03 0.748 6.066
2016-09-01 0.748 5.892
2016-08-01 0.748 5.819
2016-07-01 0.748 5.824
2016-06-01 0.748 5.882
2016-04-01 0.748 6.007
2016-03-01 0.748 6.248
2016-01-04 0.748 6.345
2015-12-01 0.748 6.542
2015-11-02 0.748 6.625
2015-10-02 0.748 6.689
2015-09-01 0.748 6.825
2015-08-04 0.748 6.830
2015-07-02 0.748 6.873
2015-06-01 0.748 6.930
2015-05-01 0.748 6.712
2015-04-01 0.748 6.541
2015-03-02 0.748 6.603
2015-02-02 0.748 6.595
2015-01-02 0.748 6.611
2014-12-01 0.748 6.785
2014-11-03 0.748 6.843
2014-10-01 0.748 6.903
2014-09-02 0.748 6.918
2014-08-01 0.748 6.871
2014-07-01 0.748 6.862
2014-06-02 0.748 6.792
2014-05-01 0.748 6.817
2014-04-01 0.748 6.954
2014-03-03 0.840 7.635
2014-02-03 0.840 7.801
2014-01-02 0.840 8.072
2013-12-02 0.840 8.401
2013-11-01 0.840 8.207
2013-10-01 0.840 8.094
2013-09-03 0.840 8.184
2013-08-01 0.840 8.359
2013-07-01 0.840 7.896
2013-06-03 0.840 7.647
2013-05-01 0.840 6.767
2013-04-01 0.840 6.710
2013-03-01 0.840 6.803
2013-01-02 0.840 6.582
2012-10-01 0.840 6.547
2012-09-04 0.840 6.393
2012-08-01 0.840 6.484
2012-07-02 0.840 6.625
2012-06-01 0.840 6.813
2012-05-01 0.840 6.955
2012-04-02 0.840 7.000
2012-03-01 0.840 7.085
2012-02-01 0.840 6.995
2012-01-03 0.840 7.160
2011-12-01 0.840 7.555
2011-11-01 0.840 7.739
2011-10-03 0.840 7.830
2011-09-01 0.840 7.865
2011-08-01 0.840 7.982
2011-07-01 0.840 7.889
2011-06-01 0.840 7.921
2011-05-02 0.840 7.933
2011-04-01 0.840 8.050
2011-03-01 0.840 7.883
2011-02-01 0.840 7.903
2011-01-03 0.840 8.133
2010-12-01 0.840 8.216
2010-11-01 0.840 7.942
2010-10-01 0.840 7.509
2010-09-01 0.840 7.187
2010-08-02 0.840 7.149
2010-07-01 0.840 7.499
2010-06-01 0.840 7.643
2010-05-03 0.840 7.745
2010-04-01 0.840 7.689
2010-03-01 0.840 7.817
2010-02-01 0.840 7.717
2010-01-04 0.840 7.894
2009-12-01 0.840 8.016
2009-11-02 0.840 8.015
2009-10-01 0.840 7.790
2009-09-01 0.840 7.569
2009-08-03 0.840 8.177
2009-07-02 0.840 8.430
2009-06-01 0.840 8.840
2009-05-01 0.840 8.822
2009-04-01 0.840 9.104
2009-03-18 0.840 9.972

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of PIMCO Municipal Income Fund III's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess PIMCO Municipal Income Fund III's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can PIMCO Municipal Income Fund III afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PIMCO Municipal Income Fund III has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PMX Management

 What is the CEO of PIMCO Municipal Income Fund III's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Peter Strelow
AGE 48
TENURE AS CEO 5.2 years
CEO Bio

Mr. Peter G. Strelow has been President of PIMCO Variable Insurance Trust - Global Bond Portfolio (Unhedged) since January 2015. Mr. Strelow is a Managing Director and Co-Chief Operating Officer at Pacific Investment Management Company LLC. Mr. Strelow joined PIMCO in 2002 to help manage back-office operations, focusing on continuous improvement initiatives. He worked in the executive office from 2003 to 2006 on communications and strategic initiatives. He is also responsible for overseeing funds, operations, technology and enterprise risk management. He previously served as Global Head of Funds Business Group. Since 2006, he has primarily worked in the funds business group. Prior to PIMCO, he worked in product management at Siebel Systems. He holds an MBA from the Harvard Business School and an undergraduate degree from the University of California, Berkeley.

CEO Compensation
  • Insufficient data for Peter to compare compensation growth.
  • Insufficient data for Peter to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the PIMCO Municipal Income Fund III management team in years:

5.2
Average Tenure
46
Average Age
  • The average tenure for the PIMCO Municipal Income Fund III management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Peter Strelow

TITLE
Principal Executive Officer and President
AGE
48
TENURE
5.2 yrs

William Galipeau

TITLE
Principal Financial & Accounting Officer and Treasurer
AGE
44
TENURE
5.2 yrs

Joshua Ratner

TITLE
Chief Legal Officer
AGE
42
TENURE
5.2 yrs

Eric Johnson

TITLE
Vice President
AGE
48
TENURE
5.2 yrs

Erik Brown

TITLE
Vice President
AGE
51
TENURE
5.2 yrs

Trent Walker

TITLE
Assistant Treasurer
AGE
44
TENURE
5.2 yrs

Stacie Anctil

TITLE
Assistant Treasurer
AGE
49
TENURE
5.2 yrs

Ryan Leshaw

TITLE
Assistant Secretary
AGE
38
TENURE
5.2 yrs

David Hammer

TITLE
Portfolio Manager
Board of Directors Tenure

Average tenure and age of the PIMCO Municipal Income Fund III board of directors in years:

9
Average Tenure
69.5
Average Age
  • The tenure for the PIMCO Municipal Income Fund III board of directors is about average.
Board of Directors

Hans Kertess

TITLE
Chairman of Board of Trustees
COMPENSATION
$5K
AGE
79

William Ogden

TITLE
Independent Trustee
COMPENSATION
$4K
AGE
73
TENURE
12.5 yrs

Jimmy Jacobson

TITLE
Independent Trustee
COMPENSATION
$5K
AGE
73
TENURE
9.3 yrs

John Maney

TITLE
Interested Trustee
AGE
59
TENURE
12.3 yrs

Alan Rappaport

TITLE
Independent Trustee
COMPENSATION
$4K
AGE
65
TENURE
8.8 yrs

Bradford Gallagher

TITLE
Independent Trustee
COMPENSATION
$4K
AGE
74
TENURE
8.3 yrs

Deborah DeCotis

TITLE
Independent Trustee
COMPENSATION
$4K
AGE
66
TENURE
8 yrs

Craig Dawson

TITLE
Trustee Nominee
AGE
50
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess PIMCO Municipal Income Fund III's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. PIMCO Municipal Income Fund III has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PMX News

Simply Wall St News

PMX Company Info

Description

PIMCO Municipal Income Fund III is a closed-ended fixed income mutual fund launched and managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in in municipal bonds that pay interest that is exempt from federal income tax. PIMCO Municipal Income Fund III was formed on October 31, 2002 and is domiciled in United States.

Details
Name: PIMCO Municipal Income Fund III
PMX
Exchange: NYSE
Founded: 2002
$401,412,269
32,902,645
Website: http://www.investments.pimco.com/Products/pages/672.aspx
Address: PIMCO Municipal Income Fund III
650 Newport Center Drive,
Newport Beach,
California, 92660,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE PMX Common Shares New York Stock Exchange US USD 29. Oct 2002
Number of employees
Current staff
Staff numbers
0
PIMCO Municipal Income Fund III employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/17 23:50
End of day share price update: 2019/03/15 00:00
Last earnings filing: 2019/02/28
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.