Daily Snapshot

RMR Mortgage Trust began trading on the Nasdaq under the ticker "RMRM" on July 30, 2020.

1 Dividend yield is the latest declared quarterly dividend per share annualized and divided by the closing share price. The distribution rate alone is not indicative of RMRM’s performance. To the extent any portion of the current distribution is estimated to be sourced from something other than income, such as return of capital, the sources would be disclosed in a distribution notice published pursuant to Rule 19a-1 under the Investment Company Act. Please note that a portion of the distribution may be reclassified at year end. Please refer to year-end tax documents for the final classifications of RMRM’s distributions for a certain year. Dividends on RMRM’s common share are not fixed but are declared at the discretion of RMRM’s board of trustees. RMRM adopted a managed distribution policy that allows it to include long term capital gains, where applicable, as part of its regular fixed quarterly distribution to shareholders (the “Managed Distribution Plan”), for distributions occurring after February 22, 2019. RMRM’s current distribution rate is subject to change at the discretion of our Board. If the amount of its quarterly distributions exceeds the amount of its investment income and realized gains, the excess would be a return of capital to shareholders from its assets. You should not draw any conclusions about RMRM’s investment performance from the amount of its distributions or from the Managed Distribution Plan. RMRM’s board may amend, suspend or terminate the Managed Distribution Plan at any time. RMRM is not required to continue to pay dividends on its common shares and there is no guarantee that RMRM’s board will declare dividends in the future or that, if declared, they will remain at current levels or increase over time. During the transition period of the Business Change Plan before RMRM’s portfolio has been fully converted to its new investment strategy and RMRM is deregistered as an investment company, RMRM intends to try to maintain a quarterly managed distribution rate as high as is reasonably practicable. However, there can be no assurance that it will not reduce its quarterly distributions during the investment strategy transition period, and RMRM’s board likely will need to temporarily reduce the managed distribution rate because RMRM expects its cash flow from earnings and the status and availability of capital gains it realizes from its portfolio to decline during the transition. This decline could result from the rotation out of existing investments, the need to establish income streams from mortgage originations, the potential for holding assets in temporary investments with lower yields such as agency whole pool certificates, the availability or unavailability of realized capital gains to distribute and the current difficult economic and market conditions, among other potential variables. RMRM anticipates distributing any capital gains recognized on the sale of assets during this transition period, either as part of its quarterly distributions made pursuant to the Managed Distribution Plan, or at the end of the year in accordance with the requirements of subchapter M of the Internal Revenue Code of 1986, as amended.

Recent News

Literature

Carefully consider RMRM’s investment objectives, risk factors and expenses. This and other information can be found in RMRM’s SEC filings which may be obtained by visiting the SEC Edgar database or the “SEC Filings” section of this website. Read these filings carefully before investing.

On April 16, 2020, shareholders approved a change in RMRM’s business from a registered investment company to a commercial mortgage REIT and amended RMRM’s fundamental investment policies and restrictions to permit RMRM to pursue its new business. For further details please click here. For a discussion of the risks associated with RMRM's operation as a commercial mortgage REIT, please click here. For a discussion of the risks associated with RMRM’s legacy assets that it is beginning to transition into commercial mortgages consistent with its new business strategy, please click here.

RMRM is subject to numerous risks, including investment risks. Shares of closed-end funds often trade at a discount from their net asset value. RMRM is not a complete investment program and you may lose money investing in RMRM. An investment in RMRM may not be appropriate for all investors.

RMRM is a closed-end fund and its common shares are only available for purchase and sale at current market price on the The Nasdaq Stock Market LLC. A closed-end fund’s dividend yield, market price and net asset value will fluctuate with market conditions. Closed-end funds may trade at a premium to NAV, but often trade at a discount, and RMRM has historically traded at a discount to NAV. Information for RMRM is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell RMRM shares.

There can be no assurance that RMRM’s investment objectives will be achieved or that the RMRM's investment program will be successful.