Below are press releases from companys with preferred stock and/or baby bonds outstanding–or just news of general interest.
Earnings Season is pretty much over so we will have slow news days for a month or two.
Dynagas LNG Partners LP Announces Date for the Release of the Third Quarter 2024 Results
SL Green Extends Loan on 1515 Broadway
LuxUrban Hotels Inc. Reports Third Quarter 2024 Financial Results
NCV, NCZ Announce Reverse Stock Splits and Monthly Distributions
MicroStrategy Announces Pricing of Offering of 0% Convertible Senior Notes
Great Ajax Establishes Effective Date of Previously Announced Rebrand to Rithm Property Trust
TECTP keeps quietly paying on their preferred. If the previous div remains close to the same it is a 11% plus yield since it floats. It is callable. I wish I could figure out how much is owned by insiders who might be sitting on it just collecting the juicy returns.
https://www.t.financial/investors
fc,
In the “Holders” page on yahoo finance, it says less than 1% (0.81%) of TECTP shares are held by all insiders. However, I calculate 3.336%:
9/30/24, TECTP had 1.725 million shares outstanding (from 10-Q filed 11/14/24).
Looks like 57,550 shares are held by Insiders:
https://finance.yahoo.com/quote/TECTP/insider-transactions/
No idea how accurate is yahoo finance, but if it is, then I calculate 57,550 / 1.725 million = 3.336% held by insiders.
That 57K shares just appears to be the total from some purchases a year ago. I do not think they have the data from the initial issue? I am sort of skeptical of that. I tried to find it in the docs on the investor webpage but failed earlier today. This lack of understanding has kept my position below 600 shares and in the higher risk bucket.
The common shares appear to be heavily held by insiders and they got a .10 cent div this quarter. Those are not publicly traded but I reckon there are not many outsiders who own who are not directly related to bank operations in some fashion.
Fc, Last article on SA by arbitrage Trader about this is 5yrs old. At the time of issue, 75% was held by insiders. Now, Yahoo reports only .81% is held and it is by one insider the chairman and he has only bought not sold. Last buy was a year ago.
https://finance.yahoo.com/quote/TECTP/insider-transactions/
Sachem Capital’s baby bonds dropping like crazy on company troubles
top pick (BOND):
Ecopetrol S.A. 8,375% 24/36
ISIN: US279158AV11
Rating: BB+
Price: $97.50
YTM around 8.8%
Thank you!