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Public Storage (PSA) has called for the redemption of the 5.40% perpetual preferred effective on 1/20/2021 at the normal $25 plus accrued dividends. The company press release is here. The issue was trading at $25.76 last Friday so there will be small l…

Last week we saw a rare drop in equity prices as the SP500 fell by just a bit less than 1% on the week. The index traded in a range of 3633 to 3712 before closing at 3653. It looks like for the coming weeks the release of the Covid-19 vaccine will driv…

Almost 3 years ago the small company 1347 Property Insurance (PIH) sold a small issue of preferred stock. The issue carries a 8% coupon and of course is not rated. It is one of the few insurance company issues that is cumulative. Here is what I wrote i…

Xoma Corp (XOMA) has priced the previously announced new preferred stock issue. The issue prices at 8.625%. The issue is unrated, cumulative and likely mostly unqualified. Qualified dividends can only be paid by corporations which have income–and gene…

New York banker Signature Bank (SBNY) has announced they will be selling a new issue of non-cumulative preferred stock. Signature has $64 billion in assets. I am not finding a rating on the new issue at this time. The banker, like Republic Bank, does n…

We all have a different level of risk we are willing to take to garner some portfolio income and I have tried hard to push myself to buy some riskier assets. I still have plenty of dry powder–which I want to maintain at a healthy level, but I need to…

Xoma Corporation (XOMA) has announced they will be selling a new issue of cumulative, perpetual preferred stock. Xoma appears to be a company that helps fund other biotech companies in exchange for a future royalty–honestly I don’t know anything about…

Charles Schwab (SCHW) has just announced they will be selling a new preferred offering. While the company doesn’t list the redemption of the SCHW-C as a ‘use of proceeds’ I think there is a high likelihood they will call this 6% issue as it became rede…

UPDATE–The company priced their new $1,000 notes at 5.125%. Press release is here. Additionally the company has called the 6.125% baby bonds (GLADD) on 1/7/2021. Business Development Company Gladstone Capital (GLAD) will be selling an issue of $1,000…

Here we go on a another week which will be driven by news on Covid 19, vaccines and the never ending saga of the next ‘stimulus’ package. The S&P500 traded in a range of 3594 to 3699 closing the week right at the high of 3699—a gain on the week o…

Well it isn’t really too much of a wild side walk but I have started to buy some preferred issues that I haven’t owned for a few years–still in my comfort zone, but dicier than owning utility and CEF preferreds and baby bonds. Yesterday I started to a…

Ag cooperative CHS (Cenex Harvest States) has released a new investor presentation. The coop has many preferred issues outstanding which can be seen here so this presentation may be of interest. The slideshow can be seen here. One thing to keep in mind…