Previously was Sutherland Asset Management
If baby bonds are called on or after 4/30/2019 but before 4/30/2020 they are called at 101% plus accrued interest. If called on or after 4/30/2020 they are called at $25 plus accrued interest.
Sector: Mortgage
PennyMac Mortgage Investment Trust 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Coupon is fixed at 8.125% until 3/15/2024 after which it floats at a rate of 3 month Libor plus a spread of 5.831%
PennyMac Mortgage Investment Trust 8% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares
Coupon is fixed at 8% until 6/15/2024 after which time it will begin to float at 3 month Libor plus a spread of 5.99%
Annaly Capital Management, 6.95% Series F Fixed-to-Floating Cumulative Redeemable Preferred Stock
Annaly Capital Management, Inc. is a real estate investment trust (REIT) that primarily invests in and manages a portfolio of mortgage-backed securities. The company operates as a middleman between borrowers and lenders by using the funds from short-term borrowings to purchase long-term, fixed-rate mortgages. Annaly Capital generates revenue through the difference between the interest income earned on its mortgage investments and the cost of its borrowings. The company’s goal is to generate high, stable income for its shareholders while also preserving capital. Annaly Capital is headquartered in New York and was founded in 1997.
Coupon is fixed at 6.95% until 9/30/2022 after which the rate resets quarterly at 3 month libor(now SOFR) plus 4.993%.
Jernigan Capital 7.00% Series B Cumulative Redeemable Perpetual Preferred Stock
Annaly Capital Management Series G 6.50% Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Annaly Capital Management, Inc. is a real estate investment trust (REIT) that primarily invests in and manages a portfolio of mortgage-backed securities. The company operates as a middleman between borrowers and lenders by using the funds from short-term borrowings to purchase long-term, fixed-rate mortgages. Annaly Capital generates revenue through the difference between the interest income earned on its mortgage investments and the cost of its borrowings. The company’s goal is to generate high, stable income for its shareholders while also preserving capital. Annaly Capital is headquartered in New York and was founded in 1997.
Coupon is fixed at 6.50% until 3/31/2023 after which the coupon floats at a rate of 3 month Libor plus a spread of 4.172%
Colony Northstar 8.75% Series E Cumulative Redeemable Perpetual Preferred Stock
Previously was a Northstar Realty Finance Issue
Two Harbors Investment Corp., 7.25% Series C Fixed-to-Floating Cumulative Redeemable Preferred Stock
Preferred stock dividend reinstated 4/2020
Dividend suspended 3/2020 because of asset damage caused by Covid 19.
Coupon is fixed at 7.25% until 1/27/2025 at which point it begins to float at 3 month Libor plus a spread of 5.011%
New York Mortgage Trust 8.00% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Coupon is fixed at 8% until 10/15/2027 at which point it begins to float at 3 month Libor plus a spread of 5.695%
Cherry Hill Mortgage Investment Co. 8.20% Series A Cumulative Redeemable Preferred Stock