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Just noticing the futures market has common stocks down about a percent. The day will come, soon, when this market is going to ‘break’ and we are going to see a ‘real’ tumble—not these little 1% moves. There simply are too many items weighing on this…

Lodging REIT Sotherly Hotels (SOHO) has withdrawn their registration for a new issue of exchange traded debt (baby bonds). The reason given is due to ‘market conditions’. In this issue the company was going to ‘escrow’ 4 quarters worth of interest paym…

ABR priced their new fixed to floating rate preferred with an initial coupon of 6.25%. On 10/30/2026 the rate changes to SOFR plus a spread of 5.442%, although there is a 6.125% floor to the coupon (can’t be reset below). The issue trades immediately u…

OTC ticker is PRIFP Non publicly traded CEF Priority Income Fund has priced their 1st issue of perpetual preferred stock. Historically the fund has only issued ‘term’ preferred stock (stock with a redemption date). The issue prices with a coupon of 7.0…

mREIT Arbor Realty Trust (ABR) has announced the pricing on their new fixed-to-floating rate perpetual preferred stock issue. The company has sold 7 million shares with another 1.05 million available for over allotment with an initial coupon of 6.25%….

UPDTAE–The OTC ticker is GDVKP Closed end fund Gabelli Dividend & Income Trust (GDV) has priced their previously announced new perpetual preferred stock. As is fitting for a closed end fund (CEF) with an asset coverage ratio of 952% (as of 9/30/20…

Non listed REIT Healthcare Trust Inc has priced a new issue of perpetual preferred stock. The series B preferred prices at 7.125% for 3.2 million shares (with another 480,000 available for over allotment). Healthcare Trust has a 7.375% perpetual prefer…

Closed end fund (CEF) Gabelli Dividend and Income (GDV) will be selling a new perpetual preferred stock in a refinancing of a higher coupon issue. The fund will be calling the 5.25% GDV-G issue which can be seen here. The issue will likely be strongly…

Arbor Realty Trust (ABR) has announced they will be selling a new issue of fixed-to-floating rate preferred stock. The company currently has 2 fixed rate preferred outstanding with fixed rate coupons of 6.25% and 6.375% which can be seen here. Neither…

It looks like untraded CEF Priority Income Fund will finally be selling the previously announced new perpetual preferred —NOTE this is a perpetual preferred issue–NOT a term preferred (there is a huge difference). ‘Yield talk’ on this perpetual is 7…

Well will we see a bunch of volatility this week like we did last week? I personally could do without excitement—I like things drifting along–boring is great. Unfortunately we may well see another week of giant sized ups and downs. This week we have…

Chuck P has promised not to make anymore political commentary on the message boards–and I plan to hold him to his promise. I have removed some posts, because they added nothing to of value to what we want to accomplish here. My apologies for being slo…