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Energy company Brookfield Renewable Partners LP (BEP) has priced the previously announced preferred unit offering. The issue priced at 5.25%. It will become redeemable in 2025. The issue is rated BBB- (low investment grade) by Standard and Poors. The i…

As Landlord Investor noted in the comment section preferreds and baby bonds were pretty red today. I personally am not aware why we would be seeing red so widely–except for the fact that every damned issue is overvalued (when has that mattered?). Toda…

Priority Income Fund (non traded) has announced the launch of a new term preferred issue. Priority Income Fund is a closed end fund which primarily invests in collateralized loan obligations (CLOs) and as such it should be considered somewhat higher ri…

Brookfield Renewable Partners LP (BEP) has announced a new offering of preferred units (they are units if the issuer is a partnership). As a partnership this offering will likely generate a K-1 at tax time. BEP is a $3 billion dollar renewable energy p…

From time to time it happens that new issues are announced–or at least SEC documents are filed, indicating a new issue of preferred stock is ‘coming’, but then we never see the issue. Smaller mREIT Orchid Island Capital (ORC) is one of the latest to f…

Texas bank Cullen Frost (CFR) slipped in a full call of their 5.375% perpetual preferred late Friday (2/14). Once again folks were caught as the shares traded last at $26.16—with this price the 3/15/2020 redemption means a loss of around 83 cents/sha…

The S&P500 opened the week at 3318 and closed the week 2% higher (of course) at 3380. The 10 year treasury started off at 1.57% and ended the week at 1.59%, although it was as high as 1.64% during the week. The Fed Balance Sheet grew by $16 billion…

Arbor Realty Trust (ABR) which has 3 high yield perpetual preferreds outstanding announced earnings on 2/14/2020. With earnings that generally are pretty good, one has to wonder how long 3 issues of perpetual preferreds can remain outstanding–in parti…

We have posted a new version of the sortable spreadsheet which we initally released on 12/16/2019. The new version has new issues added and redeemable issues removed–no other changes. If you copied the original version you may want to delete the old v…

I have posted the new “Broker/Brokerage” discussion thread in the right hand menu (under additional links”. If folks have comments, notices, complaints etc about particular brokers or brokerages please go here. Like all the threads in the right hand ma…

mREIT Dynex Capital (DX) announced a surprise partial call of their 7.625% DX-B shares of preferred stock late today. DX which just sold a new issue of 6.90% perpetual preferred (4 million shares plus 600,000 for over allotment) had announced with the…

Markets are all kind of quiet–both stocks and bonds, as we look into a 3 day weekend (at least as far as stock and bond trading are concerned). Stocks are moving around 1/10% right now and the 10 year treasury is off 3 basis points at 1.59%. It will b…