We are back into a period where each day you wake up and the equity futures are up 1/2%–and then over the course of the morning they move even further higher. Obviously the coronavirus is no longer a headline–BUT this thing could flair up again and only a fool ignores it in total.
I look at the REIT indexes and they move higher and higher–the folks writing on SA on them are ‘heroes’ (in their minds) and others writing on junky stuff are also hero’s–or at least they are will take credit for good gains while shunning their lousy picks. A rising tide lifts all boats!
I am stuff watching my preferreds and baby bonds–directionally moving higher, but with smaller and smaller coupons being presented to us for the future.
Oh well – just give me my 6-7% annual returns–year in and year out–I would be ecstatic–even gleeful.
Folks on the site are mourning in advance of the pricing of the new ATT (T) perpetual preferred–they know the coupon will be inadequate–maybe even worse than inadequate considering it will be rated junk–just below investment grade.
Others are talking about the dividend capture on UMH-D–it goes ex dividend Friday for almost 40 cents and is trading at $25.05. It has traded within 2-3 cents of this level for weeks. UMH has to be in the ‘hated’ category of REITs–investors hate that the company, which is in the manufactured home site group, owns bunches of shares in junky REITs. Quite honestly they should sell those shares and pay debt or give it to the shareholders–but from a preferred stock investor perspective with a decent economy this 6.375% coupon is a gift almost–I have bought it 3 times recently (in my higher risk basket).
It is incredible how popular some of the segments on this website are becoming–we have reached a point where the Reader Initiated Alerts page is the most popular page on the site (after the homepage)–followed by the Sandbox Page and then Sock Drawer. No real surprise here–it is where the folks with knowledge and experience hang out–there is no better group to hang with–wish I had more time to do so.
The website is around 2,600 pages now, which means I have less and less time to invest while I do more and more (in the background) of the website. Oh well there will come a time when I can spend more time in discussion than on administrative.