Below are press releases from company’s with preferred stock or baby bonds outstanding–or just general news of interest.
Mortgage Rates Increase Slightly
Athene Announces $2 Billion First Close For Apollo / Athene Dedicated Investment Program II
Apollo Reports Fourth Quarter and Full Year 2022 Results
Brookfield Reinsurance Announces 2022 Results and Declares Regular Quarterly Dividend
Ares Management Corporation Reports Fourth Quarter and Full Year 2022 Results
RPT Realty Declares and Raises Common Share Dividend by 8% and Declares Preferred Share Dividend
Regency Centers Reports Fourth Quarter and Full Year 2022 Results
Global Ship Lease Declares Quarterly Dividend per Common Share for Fourth Quarter of 2022
Safe Bulkers, Inc. Sets Date for the Fourth Quarter 2022 Results, Conference Call and Webcast
Redwood Trust Reports Fourth Quarter 2022 Financial Results
Brighthouse Financial Announces Fourth Quarter and Full Year 2022 Results
Terreno Realty Corporation Announces Offering of 5,000,000 Shares of Common Stock
NGL Energy Partners LP Announces Third Quarter Fiscal 2023 Financial Results
The Athene press release mentions their “ability to source attractive, persistent, spread-based liabilities…”
What is a spread-based liability?
After hours, BHF was down 5%, then up 10% and ended flattish. I guess I’ll have to wait until the Market opens and closes today to find out if Brighthouse had a good or bad quarter and year.
BHF bought back a lot of stock, had a big 4Q loss (not to worry, just unmatched hedges), and had a sequential drop in adjusted Y2Y earnings (which are positive and large/share). A passing mention of “prevailing macroeconomic headwinds” for its minuscule life sales.
It is selling at either book value or half of book, depending on how you look at it and perhaps whether you subscribe to the theory that you don’t lose anything until you sell. Investment income fell 15% Y2Y but rose 20% Q2Q. Similar Y2Y/Q2Q anomalies in annuity (+/-) and life (-/+) sales. Your choice of relevant reality.
Any report that sends me scurrying to the definitions section of Investopedia to look up AOIC is one where I’ll wait for the Market to speak. Or the conference call today. Current analyst rating is a hold.
Disclosure: no position. (“You’re always window shopping, but never stopping to buy.” – Georgy Girl, The Seekers)
BJ, I am not the person to ask about financials and I have a distrust of talk that isn’t clear to me. I was looking at RWT and again it was is the glass half or is it half empty. Their report shows them not doing as good as 2021 but the 4th qtr. loss is an improvement over the 2nd qtr of 2022
Thanks for the reference to ‘Georgy Girl’, deep nostalgia for that one.
We had a great dane when I was a kid in Spokane who my parents named ‘Georgy Girl’ (after the song, of course). Wish they were still around so I could ask them how this huge, tan dog (whose head was at just the right height to swipe a stick of butter from the tabletop when your back was turned) evoked that kicky 60s song for them.