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Now just how soundly do you have to be napping to be caught holding the Gabelli Dividend and Income 5.875% (GDV-A) cumulative preferred stock when it is trading at $26.35 and has been optionally redeemable since 2009? Those holders got a 4% lesson yest…

Legg Mason, which was recently acquired by Franklin Resources (BEN), had 2 baby bond issues outstanding at the time of merger, which had previously been announced that they were to be delisted from the NYSE on 8/20/2020. These baby bonds were delisted….

With critical consumer confidence continuing to be measured at a very low level, relative to readings just 6 months ago, commons stocks, as measured by the S&P500 continue to move higher. The University of Michigan Consumer Sentiment survey tells a…

I asked for input on a new commenting system this week and I got lots of good suggestions–of course more good ideas than could ever be implemented in total–but lots of thoughts that can probably be added in. I will print all the suggestions and then…

VEREIT (VER) has announced they are redeeming another 6 million shares of the 6.70% cumulative preferred (VER-F). Of course over the years this issue has been PARTIALLY redeemed many times–it was a giant issue to start–almost 43 million shares. With…

REIT DiamondRock Hospitality (DRH) has priced the previous announced cumulative, non qualified preferred stock. The coupon is 8.25%–a very juicy coupon from a quality lodging REIT–BUT like all lodging REITs you can be good–but you need some business…

I thought I was seeing things when reviewing a prospectus a minute ago for Hannon Armstrong Sustainable Infrastructure Capital (HASI). They are offering $125 million in 0% senior convertible notes maturing in 2023. Looking through it I guess you are si…

The OTC ticker for temporary trading is announced as CCNEL–although OTC has been known to change these when trading begins. Bank holding company CNB Financial (CCNE) has finally priced their previously announced new preferred issue. The issue prices w…

DiamondRock Hospitality (DRH), a lodging REIT, has announced that they will issuing a new series of preferred stock. The issue will be cumulative, but non qualified. DRH is a lodging REIT with 31 properties and total normalized revenue near $1 billion….

Public Storage (PSA) which had issued a new 4.125% cumulative preferred last week (a $200-$225 million issue) announced a call on 2 older issues late today. While the new issue provided enough new money to call 1 issue, obviously the company dug into t…

About a year ago folks asked for the ability to ‘edit’ their comments after publication–the native wordpress system did not allow for editing. At that time I thought I would go ahead and change the entire commenting system. Then I found a wordpress ‘a…

Just a note on a few of the buys and sells I have done lately. I sold some of my Tri-Continental 5% $50/shares preferred. I held 300 shares for years and this time as it trades up around $57.50 (and sometimes $58.40) I decided to ‘lighten up’. This iss…