Home

I had just looked at the overall picture of preferreds and baby bonds early today and ‘on average’ they were up 2 cents from last week. But on a day where interest rates ground higher (as represented by the 10 year treasury) to close at the high of the…

As mentioned by J early today the new preferred stock from INPOINT Commercial Real Estate Income (not publicly traded) is now trading on the New York Stock Exchange. This issue was not able to be purchased by most of us, because of stricter regulation…

It is kind of amusing that so much time was spent on speculation on Federal Reserve taper talk–maybe that was what was needed–so much awareness that there was no BAD reaction to tapering timelines in the equity markets. The 10 year treasury is up 7 b…

Once again serial issuer of baby bonds B Riley Financial (RILY) has announced a new call. They will call the 6.875% RILYI baby bond issue on 10/22/2021. UPDATE – Shares closed yesterday at $25.91–redemption is at $25 plus accrued interest and a 25 cen…

With equity markets trading higher today it seems like investors/traders are looking for a dovish spin from the Federal Reserve today at 1 pm (Central time). With the last soft jobs report, Covid 19 Delta and now Evergrande in China the chair has lots…

Interactive TV company iMedia Brands (IMBI) has announced a new offering of baby bonds. The senior notes will carry a coupon of 8.50% and will have a maturity date on 9/30/2026. 3 million shares (bonds) are proposed to be sold. As I have come to expect…

No, I am not talking about the REO Speedwagon song from the 1970’s, but referring to yesterdays stock market and interest rate action. Long time preferred stock and baby bond investors know that when we have common shares taking a fairly substantial hi…

Tiny lodging REIT Sotherly Hotels (SOHO) is selling a new issue of baby bonds. Of course Sotherly has 3 issues of cumulative preferred stock with suspended dividends (suspended in March, 2020) which can be seen here. Obviously this is a dicey company a…

The S&P500 continued to be a little weak last week falling by about 25 S&P points from the previous Friday–about 1/2%. While the index is seasonally weak it remains just 2% more or less from an all time high. Interest rates which had been as l…

Non publicly traded healthcare REIT Healthcare Trust Inc. has announced a new preferred stock offering. Healthcare Trust Inc. has one other outstanding 7.375% preferred stock issue which can be seen here. The permanent ticker will be HTIBP when it reac…

As noted a couple days ago a call was expected on the National Retail Properties 5.2% perpetual preferred. Ken posted the press release on the call here. The call occurs on 10/16/2021. Ken also posted the press release on the call of the Southern Compa…

While I try to not hold too many mREIT issues I did buy the new issue from New Residential (NRZ) issue. I paid $24.73 This issue is a 7% fixed rate for 5 years and then reset every 5 years at the 5 year treasury plus a fixed spread of 6.223%. At the ti…