Below are press releases from companys with preferred stock and/or baby bonds outstanding–or just news of general interest.
Atlanticus Announces Approval of Quarterly Preferred Stock Dividend
NGL Energy Partners LP Announces Second Quarter Fiscal 2025 Financial Results
Babcock & Wilcox Enterprises Reports Third Quarter 2024 Results
Hudson Pacific Properties Reports Third Quarter 2024 Financial Results
TEN, Ltd. Announces Date for the Third Quarter 2024 Results, Conference Call and Webcast
Alta Equipment Group Announces Third Quarter 2024 Financial Results
Runway Growth Finance Corp. Reports Third Quarter 2024 Financial Results
CNB Financial Corporation Announces Quarterly Dividend for Common Stock
Synchronoss Technologies Reports Third Quarter 2024 Results
Dime Community Bancshares Announces Pricing of Common Stock Offering
IMHO, Dime’s preferreds and baby bonds are that much safer with the issuance of more common. Some of the $125 million proceeds will go to swap out low-yielding AFS bonds for higher yielding ones. Dime anticipates a boost in profitability, though there may be a loss on the sale. Additionally, Dime wants to go on the offensive because the market is in flux after recent mergers.
Dime was born in Brooklyn in 1864 and lived in a neo-classical building built around 1908. Dime sold the property and moved its HQ out to the Island where it is one of the larger community bank operators. ( Its old digs just had an ultra-modern 23-story mixed use office / residential tower bolted on to the back. )
Dime has been moving east merger by merger. All that was once good and safe in Big City real estate became bad during the pandemic. Dime, the original, got criticism for being too oriented in NYC-multi-family real estate , a very niche area. Its now got a market leading 22% share on the Island.
The baby bonds DCOMG sell well above above par and yield 8.25%. The preferred DCOMP is under par and yields 6.8%. Buying a stock because a building looks like a Greek temple does not mean you will make a profit. JMO. DYODD.
The biggest moves today in III land were the two Carecloud issues: CCLDO and CCLDP which were up ~33% today. SHOUTOUT to Marcel who posted that Carecloud was resuming dividends on both of these starting with the 3/15/25 payment. They had suspended payouts after the 1/24 payouts. Marcel posted this during the pre-market trading hours.
Take a look at ALL of the trades today on CCLDO. Long story short, there were some significant profits and losses based on the pre-market trades. Some buyers bought at about $3 under the current price. They could easily have flipped these for a $3-$4 later in the day. Which means the sellers lost a bunch on these trades.
The important news IMO is NOT about Carecloud. It is about how you should be monitoring all of your positions during the pre-market and post-market. Whether it is a current position or a potential long/short trade, the outside regular hours trades can be very significant.
We had no positions long/short in these issues before, during or after today’s trades in any account. We do not follow the company and have no recommendations on these issues.
Link to announcement:
https://ir.carecloud.com/news-events/press-releases/detail/666/carecloud-reports-third-quarter-2024-results