Below are press releases from companies with preferred stock and baby bonds outstanding. Additionally, news of a more macro economic importance may be posted.
Safe Bulkers, Inc. Announces a Three Million Shares of Common Stock Repurchase Program
Sotherly Hotels Inc. Announces Amended Dividend Tax Treatment
Hovnanian Enterprises Reports Fiscal 2025 First Quarter Results
Presidio Property Trust Provides Update on Real Estate Activity in January and February 2025
Abacus Life Announces Private Exchange of Outstanding Public Warrants
Ready Capital Corporation Announces Closing of $220.0 Million of Senior Secured Notes
Axis Insurance Expands Its Reach with Acquisition of Calgary Based Fuse Insurance
RC with $220M senior notes at 9.375%. I realize they are not similar companies, but I did a chart comparison from Dec. 1, 2023, to today between RC and SACH. Similar decline in price until about June 2024 when SACH started their death spiral. I have a small amount of RCC, which I’m reasonably certain will cross the finish line. One hint of trouble, though, and I’m bailing on my small amounts of RCB and RCD.
No payment yet today on ANG-A at ETrade………
Also, I wonder what if anything this spinoff re: GDV might impact GDV-H and K? I would think pretty much none, but wonder if expectations are spelled out anywhere…..
No surprise – same at Schwab – they changed the symbol to a number
American Ntnl Group 8.432% PFD Callable
Retrieved: 05:46:36 PM ET 02/24/2025
Additional Information: Mandatory Full Call 02/24/2025 @ 25.0
2wr –
“Also, I wonder what if anything this spinoff re: GDV might impact GDV-H and K? I would think pretty much none, but wonder if expectations are spelled out anywhere…..”
It appears from the Gabelli press release that the two GDV preferreds will now be supported/covered with a lower asset base. I take this press release as a slight negative (GDV has $2.5B in assets), unless I am interpreting it incorrectly. The two GDV preferreds already seem to have almost no upside value with low 5.6% yields.
One can buy extremely well-covered CEF preferreds like GGN-B and GAM-B with yields closer to 6%.