Errors and Omissions

On this page reader/participants can post comments pointing out ERRORS AND OMISSIONS on our various lists.

I think we are dealing with near 1000 pages on site at this moment (1/5/2019) and we always say we have maybe 98% good data with 2% being incorrect or simply missing.

For instance this week Affinity4Investing let us know we were missing one of the Allstate Corp preferred issues–fortunately we stumbled on his comment so we were able to get the issue added, BUT there is so much commenting activity we can only skim through them.  Thus if they are posted here were can, at a glance, find out issues.

We will respond to comments on this page, but we will clear it off every week or two.

119 thoughts on “Errors and Omissions”

  2. Hi Tim, a few more edits

    AFSIN incorrect coupon yield, shows 7.75%, should be 6.95%
    ENO incorrect coupon yield, shows 5.45%, should be 5.50%
    AFSIN quarterly coupon shows .48, should be .435

    The following have incorrect first call dates. The first date is your date and the second date is what I think is the correct date.

    ALP-Q 10/1/2022 9/5/17
    ALL-H 8/15/2024 10/15/24
    AFSIN 3/15/2021 9/27/21
    APO-A 3/15/2021 3/15/22
    AHT-G 10/17/2021 10/18/21
    AHT-I 11/25/2022 11/17/22
    EQH-A 12/1/2024 12/15/24
    RILYP 10/7/2024 10/1/24
    BML-L 5/21/2010 5/21/12
    BML-J 11/21/2010 11/28/10
    BAC-B 6/16/2023 5/16/23
    BANFP 3/21/2009 3/31/09
    CDR-C 8/22/2022 8/24/22
    CHMI-B 4/5/2024 4/15/24
    CIM-A 10/21/2021 10/30/21
    C-K 2/15/2024 11/15/23
    CFG-D 7/6/2024 4/6/24
    CIO-A 9/15/2021 10/4/21
    CUBI-C 6/20/2020 6/15/20
    CUBI-D 3/14/2021 3/15/21
    CUBI-F 12/14/2021 12/15/21
    DSX-B 3/14/2019 2/14/19
    DLR-K 3/13/2024 3/15/24
    DLR-L 10/10/2024 10/4/24
    DLNG-B 11/2/2023 11/22/23
    ECCB 10/29/2021 10/30/21
    ESGRP 9/1/2028 9/20/28
    FRC-G 1/29/2021 3/30/21
    GDV-A 10/19/2009 10/12/09
    GGZ-A 3/31/2021 5/10/21
    GS-D 10/31/2010 5/24/11
    GS-C 5/24/2011 10/31/10
    HCXZ 4/1/2021 4/30/21
    HBANN 3/1/2018 2/4/18
    STAR-G 12/18/2008 12/19/08
    JPM-C 3/1/2024 3/21/24
    NYCB-A 6/17/2027 3/17/27
    OFG-A 5/30/2008 5/30/06
    OFG-B 10/31/2008 10/31/10
    BPOPO 3/31/2008 3/31/10
    BPOPP 5/28/2013 5/28/15
    PSA-X 3/18/2018 3/13/18
    PSA-D 7/15/2021 7/1/21
    RF-C 8/15/2029 5/15/29
    SAF 8/28/2021 8/31/21
    SPE-B 8/19/2018 8/26/18
    STL-A 4/15/2018 10/15/22
    TCFCP 12/1/2022 12/2/22
    TSCBP 7/1/2026 7/21/24
    TFC-I 9/15/2011 12/15/24
    TWO-A 4/26/2027 4/27/27
    VLYPO 9/30/2022 6/30/22

    I will send more after you digest these. . . my apologies for springing this all at once.

    Thanks,
    Tex

    Reply

  3. In the “Recent Comments” section, certain names get turned into weird links:

    Chuck P
    Martin G
    Mr.Lucky

    Reply

      1. Whoops, guess that should have been obvious. Seems like a bit of a security hole that they are not validated. I think I would make them text rather than links.

        Reply

        1. David–thanks–you guys ferreted out the issue. I think I will try to remove the ‘website’ box.

          Reply

  4. Tim, I think the first call date for GAINL is incorrect. You show it as 8/31/21 and I think it is 8/31/20.

    Thanks,

    Reply

  5. The table “$25 Preferred Stock Sorted by Share Price Loss/Gain” have a wrong coupon (8.25%) for DUK-A (5.75%)

    Reply

  6. LTS-A
    It appears grey box Quarterly Dividend Amount: 0.167 is incorrect. Issue pays 8% (per grey box and quantumonline).
    Regards and thanks for the excellent site.

    Reply

    1. edit:
      Dollar amount is correct ($0.167) since it pays monthly but grey box description “Quarterly Dividend Amount:” is incorrect. Regards.

      Reply

    2. Hi-Bob–I shade all the monthly payors with a grey shade–unfortunately in Google sheets shading doesn’t carry over from the main data page when sorting.

      Reply

      1. clarification:
        copied from “grey box” of individual preferred web page (for example https://innovativeincomeinvestor.com/security/oriental-financial-group-7-13/)
        quote:
        Quarterly Dividend Amount: 0.15
        Payment Months: Pays Every Month
        end quote:
        The issue is not a google sheets matter as it appears to be the individual security web page of multiple (if not all) issues that pay monthly. The dollar amount is correct and you correctly state the issue pays monthly but the “grey box” statement “Quarterly Dividend Amount” should read “Monthly Dividend Amount” or the dollar amount should be multiplied by three to accurately display “Quarterly Dividend Amount”. Hope you do not think I am nit-picking as your site is wonderful and I greatly appreciate all the work you put into it. Regards.

        Reply

        1. Bob–got it. I see where you mean now. Let me give that some thought and have Chad tweak it. Thanks. No I don’t think you are nitpicking–it is information that may be helpful to others.

          Reply

    1. Hi Pete–I’ve corrected it, but I can’t correct any versions of sortable sheets that folks have copied—until the next ‘version’. Thanks

      Reply

  8. I think the summary box on CAI International’s Series B has an incorrect rate on the floating. The prospectus lists the rate as 5.687%.

    Reply

  9. “Searchable Spreadsheet” – RILYP YTW of -2.36% looks like an error in the spreadsheet. The cell formula look wrong to me. Also wrong for RILYN.

    Reply

  11. DPC-C
    DPC-C grey box:
    1. “Quarterly Dividend Amount: 7.95”
    not true qtrly payment.
    2. green box at top
    “Coupon is fixed at 7.875% …”
    not matching 7.95% of grey box
    Regards

    Reply

  13. Tim, one of my online friends informed me that EP-C isnt in your list. Im a frequent player here just buying a decent amount of it again. Didnt notice you didnt have it. A pretty conservative trust debt Baa3 and trading recently around par. Goes exD in about a week. KMI is obligator of payment and it matures in 2028.
    It has been past call since 2002 at $50 liquidation value. It has an owner conversion, but it will likely stay out of the money before its 2028 maturity as KMI would have to sniff near $40 to make a worthwhile buck off it.

    Capital Trust I (Trust I), is a 100%-owned business trust that as of December 31, 2017, had 4.4 million of 4.75% trust convertible preferred securities outstanding (referred to as the Trust I Preferred Securities). Trust I exists for the sole purpose of issuing preferred securities and investing the proceeds in 4.75% convertible subordinated debentures, which are due 2028. Trust I’s sole source of income is interest earned on these debentures. This interest income is used to pay distributions on the preferred securities. We provide a full and unconditional guarantee of the Trust I Preferred Securities. There are no significant restrictions from these securities on our ability to obtain funds from our subsidiaries by distribution, dividend or loan. The Trust I Preferred Securities are non-voting (except in limited circumstances), pay quarterly distributions at an annual rate of 4.75%, carry a liquidation value of $50 per security plus accrued and unpaid distributions and are convertible at any time prior to the close of business on March 31, 2028, at the option of the holder, into the following mixed consideration: (i) 0.7197 of a share of our Class P common stock; (ii) $25.18 in cash without interest; and (iii) 1.100 warrants to purchase a share of our Class P common stock. Our warrants expired on May 25, 2017, along with the portion of the mixed consideration that provided for the conversion into 1.100 warrants to purchase a share of our Class P common stock. We have the right to redeem these Trust I Preferred Securities at any time. Because of the substantive conversion rights of the securities into the mixed consideration, we bifurcated the fair value of the Trust I Preferred Securities into debt and equity components and as of December 31, 2017, the outstanding balance of $221 million (of which $111 million was classified as current) was bifurcated between debt ($200 million) and equity ($21 million).

    Reply

    1. Grid,
      I’m wondering if EP-C issues a 1099, or has the ownership by Kinder Morgan somehow changes it to a K-1?

      I know KMI is now a corporate entity so I feel pretty sure EP-C still issues a 1099, but one never knows nowadays.

      Reply

      1. Inspy, this is pure trust debt…Interest payment from the subordinated debt held inside the trust wrapper. No K-1 at all, and wouldnt be even if KMI was still an MLP which as you know it isnt anymore..
        Good to hear from you again Inspy. I was thinking about sending you a nasty PM wondering if you fell off the planet or something.

        Reply

        1. Been busy with other stuff, unfortunately. A friend – young doctor working for a large HMO – was diagnosed with stage IV cancer. Only 46 years old, with a wife & 2 young children. My wife & I have been ministering to them along with others from our church. providing food, maintaining housework & yard work while they are at the hospital.

          Investments have been doing OK – volatility has been low, so grateful for that.

          Bought a small amount of EP-C at $50.08 today. XD is next week so with that event my effective cost goes below par, and then it’s just hanging on until they call it, or it’s sold.

          Reply

          1. Inspbudget
            I was just perusing this list and applaud you for putting
            humanity before $$$ – beautiful, sir.
            Howard

            Reply

            1. Thank you for your post, Howard.

              We had a miraculous breakthrough just last week; the patient had another CT scan – and the results showed a 40% shrinkage in the size of the tumor!

              So as not to violate the policies ( no religious stuff ) on this website, I will provide no details, but everyone is very encouraged and thankful What a wonderful Christmas Gift !

              Reply

              1. That’s great Inspy. Thank you for sharing the story and the inspirational donation of your time to the cause of others.

                Reply

  14. g’day Tim

    I believe a saw a link last time I visited for the shipping stocks, preferreds and baby bonds.
    This morning, I have looked high and low and can not locate it.

    Is it still available?

    kindest thanks
    cheers
    peter

    Reply

  15. Hi Tim-
    I was unable to find this notice anywhere on III, but it may have been discussed somewhere.

    State Street Corporation Announces Additional Capital Action with Full Redemption of Non-Cumulative Perpetual Preferred Stock Series “E”
    Company Release – 11/6/2019 9:21 AM ET

    BOSTON–(BUSINESS WIRE)– State Street Corporation (NYSE:STT) today announced that it will redeem all of its outstanding shares of non-cumulative perpetual preferred stock Series E (represented by depositary shares, each representing a 1/4000th interest in a share of Series E preferred stock)(the “Redemption”) on December 15, 2019 (the “Redemption Date”), for cash at a redemption price of $100,000 per share (equivalent to $25.00 per depositary share) plus all dividends that have been declared but not paid up to but not including the Redemption Date.

    Reply

  16. Tim,
    Under the new “Recent Comments” section where you’re listing the last few comments on the site, there is PII being revealed by clicking on the link of the persons name. For example, and I’m doing this from memory from just a minute ago, I clicked on Martin G’s name and it asked me if I was OK with logging into Yahoo under her account name – and it gave an account name. Same thing was revealed by clicking on another users name. It asked me about going to their gmail account or something of the sort.

    Just wanted to make you aware.

    Reply

  18. Looking at GAINL, you appear to list an incorrect call date. From the prospectus,

    “At any time on or after August 31, 2020, at our sole option, we may redeem the Series E Term Preferred Stock at a redemption price of $25.00 per share”

    On your monthly preferred list you indicate early call date is Aug 31, 2021.

    Reply

    1. Just for clarification, top of subject web page states 6.0%. Div is correct for a 6% yield but “grey box” “coupon” reads 6.25%

      Reply

      1. Thanks Bob–great find–out of 1800 pages those are the type of typos I would never find. Corrected.

        Reply

    1. David–I will wipe out a bunch, but you can click “newer comments” just above the comment section to bring up the new ones.

      Reply

        1. Furcel–it is now trading under the permanent ticker, but the quote server is not picking up the pricing yet and I normally wait until the pricing is showing up, but will go ahead and add it. The price will show up as NA until the quote server gets updated.

          Reply

      2. Mr M.
        It would make a lot more sense for the section to open with the latest comments. I know it takes just one click to reverse the order of the
        comments, but the latest is almost always what readers want to read.
        Essentially, the oldest have already been read days ago, and an ALERT is of immediate importance, which is the purpose of the section. I hope that you will think it over. Thanks for reading.

        Reply

  24. Hi there, thanks for your work. I was wondering why you use a closed-form calculation for preferreds YTC? Why not use the RATE function available in the google sheets? The two appear to be quite a bit off for some stocks.

    Reply

    1. And just to add, should you be using the dirty price (ie market price) in your calculation or clean price (i.e. market price less accrued) in your calculation? If you use the dirty price as you do, your YTC will decrease one day to the next all else equal as the accrued grows in the dirty price which it shouldn’t do.

      Reply

  25. Hi Tim….
    Awesome site for resources…we all thank you…..as of this morning…master list alphabetical toggle seems to have malfunctioned…..

    Reply

        1. Hi eeciii–I am not seeing anywhere where it shows as quarterly. Is there a particular spot you are noticing it is incorrect?
          Thanks

          Reply

    2. Sorry for that–I use that list for other purposes as well and forgot to reset it early this a.m. when I was messing with other stuff.

      Reply

  26. Tim, would it be possible to post your pricing tables as HTML tables instead of images? I often find myself wanting to cut and paste e.g. the CUSIP. Thanks.

    Reply

    1. David, not only are they uncallable, they pretty much are unbuyable too. Somebody had a bid at $160 for PPWLM today that went unmolested. And somebody screwed up and paid over $700 a share for a few PPWLO shares earlier this year…Ouch! PPWLM has a bit over 15,000 shares outstanding and PPWLO a bit over 5,000. Very illiquid, but then again one was issued 98 years ago and the 92 years ago.

      Reply

    2. David, I was going to give you conformation last night but went to sleep instead. I always recommend OSM if one purchases to make info is correct through SEC filings. I own PPWLO but not PPWLM. I flipped it one too many times back in the day.
      https://www.brkenergy.com/assets/upload/financial-filing/BHE%2012.31.18%20Form%2010-K_vFINAL-3.pdf#page132

      Page 171 of the actual document..
      18) Noncontrolling Interests
      Included in noncontrolling interests on the Consolidated Balance Sheets are preferred securities of subsidiaries of $58 million as of December 31, 2018 and 2017, consisting of $56 million of 8.061% cumulative preferred securities of Northern Electric plc., a subsidiary of Northern Powergrid, which are redeemable in the event of the revocation of Northern Electric plc.’s electricity distribution license by the Secretary of State, and $2 million of nonredeemable preferred stock of PacifiCorp.

      Page 186 of actual document

      Preferred Stock
      As of December 31, 2018 and 2017, PacifiCorp had non-redeemable preferred stock outstanding with an aggregate stated value of $2 million.

      Reply

  28. Tim,
    I was taking a closer look at PRE-I today. PartnerRe Ltd is a Reinsurance company. You have this preferred listed as not qualified. I think it may be qualified. Could you check if I’m correct?
    Thx

    Reply

    2. Zwei–got them corrected. I had help on these originally–unfortunately when I have help they don’t know up from down and corrections are still be made. Of course these are all non cumulative and qualified. Thanks

      Reply

  29. Hi Tim,
    Today’s discussion of the COF preferreds potentially (C, D, and P) callable now or very soon) led me to search the site of the entire set of preferreds. For COF-H, we show a call date of 12/1/16 (see the below reprint from the site). I think it’s 12/1/21 (per QOL).

    Ticker: COF-H
    Parent Ticker: COF
    OTC Grey Market Temporary Ticker: NA
    Issuance Date: 11/22/20161st Call Date: 12/01/2016

    Reply

  30. Hi Tim…when using the parent ticker search for NEWT, I noticed that NEWTL is showing up marked redeemed. NEWTZ is the issue that should be marked redeemed, not NEWTL.

    Reply

    1. Thanks Citadel–I wait until they trade before getting them in the database, so this one will go in today.

      Reply

    2. Also–they actually had an old issue NEWTL with a previous use of that ticker which was called. Ne issue now in. Thanks again

      Reply

  31. Tim
    I suggest that READER INITIATED ALERTS should open with NEWER comments first, not the oldest. Today the first comment is 19 days old and it took me a while to figure out I had to click on the ‘newer comments’ to reverse the order. ( Of course, I am a little slow on the uptake ); Alternatively, display ” to reverse date order click HERE ‘ ”
    Thanks a bunch for taking this suggestion into consideration.

    Reply

    1. Howard, there’s a comment on that page “We want to keep this page ‘fresh’ so we will slick it off every week or two so the items below remain only newer items.” That hasn’t been done in a long time.

      There’s also a request “We only ask that comments beyond the breaking news be kept to other pages or this page will be ‘out of control’” and indeed it is. If I have one complaint about this site, it’s the high level of off-topic chit chat by a handful of users. I know, I’m a troll for pointing it out again. But it’s true.

      Reply

  32. Something is broken with the reader alert doodad. Works for current posts if you click on the post but not current if you click on the page.

    Reply

    1. furcal,
      Check out the “Canadian Discussion” link over on the top right of this page. Bob-in-DE wrote the following. Otherwise, the Enbridge preferreds are not monitored at this time in Tim’s tables and don’t show up in searches on the site. We are only discussing them here for now. Thanks again to Bob for the offering.
      ——————
      Bob-in-DE says:
      06/22/2019 at 9:10 am

      For those of you that follow Canadian preferreds I have just recently updated my tracking sheets and will make same available by email upon request. These are the sheets I use to both track and make investment decisions from. Covers only those with US tickers, about 35 in total.

      To obtain, you can either post your email here (strongly discouraged) or send me a PM through Seeking Alpha with your email address. I use same nic on SA as here.

      Price is only …….. wait, this is III, not SA! Gratis, of course.

      Reply

      1. Thanks A4I. I went to the Enbridge site and have that bookmarked. The continued weakness in EBGEF is interesting. Market moves are often perplexing.

        Reply

  35. You’ve got the new First Internet Bancorp Baby Bonds listed as Qualified. It’s my understanding that baby bonds are never qualified. Am I wrong?

    Reply

  36. Maybe I’m looking in the wrong place but I can’t find any of the EPR Properties issues (C, G, or E) in the Master List.

    Reply

  37. (SR-A) Spire Inc, 5.90% Dep Shares Ser A Cumulative Redeemable Perp Preferred Stock
    not listed on your website.

    Reply

    1. Zwei, I hadnt looked at its price in a few days, it keeps creeping up it appears. I bought WAY too much of that when it first came out as it is my biggest current position. And I regret not buying more then, lol…But not now at $26!

      Reply

      1. Grid, I think that this issue will be about $26.50 within a month. Of course, I’ll have sold my shares before then. 😉

        Reply

      1. Tim,
        Thanks for adding SR-A to your website. First call date on your listing is incorrect. It should be 8/15/24 if I am not mistaken.

        Reply

  38. Hi Tim,
    I can’t post anywhere with ‘mikeo’ name and associated gmail address. Hopefully I haven’t been banned. ¯\_(ツ)_/¯

    Reply

    2. mikeo–for some reason all the posts were being sent to the spam folder. I manually approved and they moved to the comments section.

      Hopefully you can post normally now–sorry I have no idea why that happened.

      Reply

  39. Hi Tim!
    I hope I found you well. Could you please review this section and fix the latest comments to be on the top without clicking “Newer comments” option?

    Thank you in advance!

    Regards,
    Eugene.

    Reply

  40. Hi Tim:
    I do not know which page I should use for this post but was wondering with the pervasive and persistent comments about Canadian stocks and with their unique peculiarities rather than sprinkle posts on different pages have you thought about adding one page exclusively for posts and comments on Canadian securities? It need not be complex. Just a separate page for posts. That is all.
    Really appreciate the work you and Thad have put into this site and all the helpful comments that people have contributed. Love to see both sides of the issues. It helps me put things into perspective. Always learning from this site.
    THANKS!!!!!

    Reply

    1. Hi Dave–I can do that. Will put it in the additional links page on the right column in the next day or so.

      Reply

  42. Hi alpha8.
    Thanks for checking up on this.
    I was referring to MTBCP. From QOL:
    MTBC, Inc., 11.00% Series A Cumul Redeem Perp Preferred Stock
    Ticker Symbol: MTBCP CUSIP: 55378G201 Previous CUSIP: 58464J204 Exchange: NCM
    Security Type: Traditional Preferred Stock

    Reply

  43. Hi mikeo–I am going to do a bunch of stuff related to sorting–but it will probably be a few weeks or even months. When we set the sorting options up we weren’t precise in what we set up–and since it has not been a priority since that time (a year ago) we haven’t put our efforts there yet–but we will be doing so.

    Reply

    1. Thank you for considering the request, and all your work here of course. Absolutely wonderful what you have accomplished with this site!

      Reply

  44. Hey Tim…I was looking at the Master List of Utilities that you mentioned yesterday and noticed Duke-A is sporting an 8.25% coupon. While I wish that were true, shouldn’t the correct number be 5.75%?

    Reply

  45. Tim and Ken, thanks for following up.
    Ken – yes, I was referring to the Master List – Ex-Dividend sheet.
    Tim, thanks for fixing that. I verify it looks accurate now.

    Tim – I also look at the stripped price and stripped yield (annual dividend / stripped price). That information may be a useful addition to the spreadsheets, though they’re useful even without it. They are easy to calculate on my own.

    Reply

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