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AHT has chopped their distribution by 50%–from 12 cents to 6 cents. The large lodging REIT has had a very dicey balance sheet for a very long time, and it looks like this will continue as the common shares are now trading at $3.65–down 65 cents meani…

While we didn’t personally have interest in buying the new 6.75% perpetual preferred from REIT Armada Hoffler (trading under OTC Grey market ticker AMAHP) we were watching it a bit yesterday. The shares were very strong, climbing as high as $26.30 befo…

Utility Sempra Energy (NYSE:SRE) will be selling a new issue of baby bonds. The subordinated notes will have a maturity in 2079 with an early redemption option available to the company in 2024. These baby bonds will have the deferment clause in them, a…

Business development company Great Elm Capital Corp (NASDAQ:GECC) is going to offer a new offering of baby bonds. The notes have a coupon of 6.50% and they will sell 1.6 million shares (bonds) with 240,000 shares available for over allotments. The seni…

Insurance and financial services company Voya Financial (NYSE:VOYA) has announced a new issue of perpetual non-cumulative preferred stock. This issue will be marginally investment grade (a split rating) with a BBB- from S&P, a Ba2 from Moodys and B…

REIT Armada Hoffler (NYSE:AHH) has priced their new issue with a fixed rate coupon of 6.75%. The company will be selling 2.2 million shares with an additional 330,000 shares available for over allotments. Of course the shares are perpetual (no maturity…

Armada Hoffler Properties (NYSE:AHH) will be offering a new issue of preferred with a fixed coupon. The company has no other preferred or baby bond issues outstanding at this time. The issue will be typical for a REIT preferred, meaning perpetual, cumu…

Last week was a big week for stocks as the S&P500 rose by near 5% last week as Fed Chair Powell yakked about being prepared to act if trade wars hurt the economy. The 10 year treasury closed the week around 2.09% after trading in a range of 2.05% t…

Certainly there has been more than enough activity reported in the economy to keep one vigilant with their holdings, but for us personally we only bought or sold a couple issues. We purchased a “sock drawer” holding in the new Gabelli Dividend & In…

Annuity company Athene Holding (NYSE:ATH) has priced their new large offering of fixed to floating rate preferred with an initial coupon of 6.35% The company will sell 30 million shares with an additional 4.5 million available for over allotments. The…

First Internet Bancorp (NASDAQ:INBK) has priced a new issue of Fixed-to-Floating rate subordinated notes. This is a small issue of just 1.4 million shares (bonds) with another 80,000 for over allotments. The issue will have a fixed 6% coupon until 6/29…

Although most everyone with interest in this new issue has most of the data the filing did finally hit the SEC this afternoon. The final prospectus can be found here. I have reviewed the document and as suspected there does not appear to be anything un…