In what has been a fairly rare event of late Plymouth REIT has announced they are redeeming their 7.50% perpetual preferred PLYM-A. The issue is trading around $25 plus accrued so no windfall will be had by investors.
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Search the page below for PLYM and you can see the discussion we had back in 2022. A couple of posters were quite accurate with their predictions. I have to admit I was hoping it would turn out to be called in early 2024.
https://innovativeincomeinvestor.com/flipping-and-dividend-capture/
I managed to collect 6 dividends with the first paying for the price I paid above 25 per share and the rest was gravy. Now I have to figure out what to buy with the proceeds that pays > 7.5% for non-qdi payment. In this env it is not terribly difficult for similar risk.
Not quite 7.5%, but lots of solid deals exist in REITS prefs for solid companies.
RPT-D, CSR-C, LXP-C, UPB-K
Thanks – I have been loading up on LXP-C in the low 47s lately