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Headlines of Interest

Below are press releases from companys with preferred stock and/or baby bonds outstanding–or just news of general interest.


Enstar Group Limited Announces Quarterly Preference Share Dividends


NewtekOne, Inc. Begins 2024 with Strong January Loan Pipeline Growth

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Freddie Mac Expands Assistance for Very Low-Income Purchase Borrowers


NewtekOne, Inc. to Report Fourth Quarter and Full Year 2023 Financial Results on Tuesday, March 5, 2024 After the Market Closes

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AMG Reports Financial and Operating Results for the Fourth Quarter and Full Year 2023

View Press Release

LuxUrban Hotels Declares Dividend on 13.00% Series A Cumulative Redeemable Preferred Stock

View Press Release

FG Financial Group, Inc. Declares Cash Dividend on Its 8.00% Cumulative Preferred Stock, Series A

View Press Release

Popular, Inc. Declares Dividend on Preferred Stock and Announces Distribution on Trust Preferred Securities

View Press Release

AmTrust Announces Quarterly Cash Dividends on Preferred Stock

19 thoughts on “Headlines of Interest”

  1. Greystone Housing Impact Investors LP Issues 500,000 Series B Preferred Units (this was a private placement).
    Full Disclosure: I have been a continuous investor in Greystone since the first day they came IPO April 2,1998. An overview:
    Greystone Housing Impact Investors LP (NYSE: GHI) formerly known as America First Multifamily Investors, L.P. was formed in 1998 under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing for affordable multifamily, student housing and commercial properties.
    My family trusts and I have received an incredible amount of tax free distribution income from American First MultiFamily Investors, now called Greystone Housing Impact Investors L.P. and my plan is to hold this security until I am looking at the bad/wrong side of the grass…
    Pleaseeeee do your own deep due diligence my income investing friends, A

    1. I have it as well for a while. It is a bit of an administrative headache the additional bucs they have been paying. Wonder if my cost basis will be reflected accurately or maybe I will follow your lead and hold it until it won’t matter.

    2. I hold it also. Would encourage others to be careful. Profits the last few years have been from JV on market rate MFH. The LIHTC portfolio has and will suffer given the higher rates. It does not seem to me management hedged well for the interest cost increase. Greystone bought this a few years back. The amount of tax free is variable. I also hold in several family trust. I have made much more by partnering with LIHTC developers in TN. Frankly, like most Govt. programs to help the poor, it is the developers and syndicators that make money. I don’t argue with the FED or City Hall.

  2. NYCB common is showing signs of very bad outcomes. Anyone who’s stock holders equity to total assets is this low is essentially caput.

    This may cause weakness in other positions. Maybe not. But it’s hard to buy into a sell-off unless we’re well prepared

    1. So far all I see is the information (facts) in the recent quarterly report and endless amounts of websites spewing the same information (speculation) day after day because it gets clicks. These websites are creating an echo chamber of fear as they regurgitate the same information over and over again with their “opinion” tacked on at the end. Naturally their opinion is almost always fearful as that gets more hits to their websites.

      Like Bloomberg has an article with this title: “NYCB (NYCB) Has Lost Over Half Its Value in Post-Earnings Selloff”. Well no shit sherlock. People are selling and asking questions later due to the environment we are in with banking today.

      At least FT came out with new information about the Risk Officer while regurgitating the same previous information.

      So it makes me wonder how many people actually read the earnings call transcript? How many read the earnings call presentation? I see people in different places spewing misinformation from little tiny blurbs of news and 800 word articles probably generated by AI.

      Either way.. belly on up to the bar and place your bet if you are so inclined.

      1. No bets for me. In fact no banks period for me. They were good to me, but I got out a few weeks ago and won’t be coming back.

        1. Yeah – the whole NYCB meltdown seems like pure gambling – and I bet you get better odds on the Super Bowl

          I am not touching anything NYCB – good luck to those who do

          1. Mav, I try to stay consistent with these types of things. As in consistently stay out of them. Banks are too leveraged and too complicated for me too understand. So I dont do bank in crisis stuff. I typically dont like them even in good times. The worst thing I could possibly do is make money off something like this, think I am smart, and then get led to the slaughterhouse on the next stressed opportunity.

              1. Why is U trading so much weaker than A? With A at 16, I would expect U about 30-32, not 24. Especially with U being cumulative.

                1. Irish, the sheer selling volume pressure on the more illiquid issue probably is aggravating the problem. Eyeballing U it had around a 1 out of 6 share turnover. While A was more around 1 out of 18.

              2. Continued weakness across NYCB’s common, preferreds, and the Flagstar 2030 bond (-10%), meanwhile NYCB’s 2028 bond is now up 3% on the day. Interesting contrast..

            1. Grid

              Yeah I have been trying to whittle down the banks I do have (although it has been tough finding something to replace the yield with, especially since I also have several issues getting called in the near future – AIG-A, NSS, ET-D, ET-E, a Federal Farm Credit Bond, etc so I already have a lot of money I have to find a home for)

              That said, the. last thing I want to do is add a bank in crisis. Last year is too fresh in people’s mind and as we have seen, sentiment can wipe a bank out quickly

              I am not adverse to taking an occasional position in a stock that fell like a rock if I like it long term after the fall (like taking a position in ADM) but I agree with you, the banks are complicated and leveraged

              And yeah I saw the ass whipping behind the woodshed after hours after Moodys downgraded their credit status to junk. Ouch

              1. Mav, I have the opposite “problem”. Being about half my money is confiscated in safe instruments, I dont have enough cash laying around. In fact I am a bit on margin now, needing to fix that. I wont have to worry about dealing with any call issues either as most are already 50 or more years past call already, ha.

          2. Mav, it has turned into an ass beating behind the woodshed tonight. I see the common was dumped tonight in extended hours down to $3.50. Wow.

            1. Grid, You have people who follow charts, others who do technical analysis, but here is a perfect example of people reacting emotionally and panicking. This is completely beyond common sense when people go into survival mode and instinctively. react. Stand back when the herd heads for the exit or risk getting trampled.

  3. Read a little. So last year they emerged from bankruptcy? And the parent is a microcap? Their revenue is what my ceo makes in stock options, and is their common stock headed towards penny? I have other gambling options…

    1. Mr. C how many Micro caps can a micro cap own? Well at least you have the former CEO of TD Ameritrade involved. I feel better about a startup after a market crash not before.

  4. FG Financial preferred certainly has a juicy dividend. It is reportedly merging with what looks like a bigger affiliate. The preferred will apparently survive. You might want to grab that yield while you can. Or you might want to spend an hour or two googling around on the affiliated companies and names on the corporate rosters. Just sayin’

    “I don’t know how to go back. And I don’t know how to get out.” – Alice, in Wonderland.


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