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: REIT
Pennsylvania Real Estate Investment Trust 6.875% Series D Cumulative Redeemable Perpetual Preferred Shares
Dividend is suspended
Filed Chapter 11, 11/01/2020
Emerged from bankruptcy on 12/11/2020. Common share ticker is PRET and new ticker for this preferred issue is PRETN
Filed for Chapter 11 once again on 12/10/2023
Pennsylvania Real Estate Investment Trust 7.20% Series C Cumulative Redeemable Perpetual Preferred
Dividend is suspended
Filed Chapter 11, 11/01/2020
Emerged from bankruptcy on 12/11/2020. Common share ticker is PRET and new ticker for this preferred issue is PRETM
Filed for Chapter 11 once again on 12/10/2023
QTS Realty Trust 7.125% Series A Cumulative Redeemable Perpetual Preferred Stock
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%
Sotherly Hotels 7.25% Senior Notes due 2021
If the baby bonds are called on or after 2/15/2019, but prior to maturity they are called at 101% of $25 plus accrued interest.
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 plus 4.993%.
Jernigan Capital 7.00% Series B Cumulative Redeemable Perpetual Preferred Stock
UMH Properties 6.375% Series D Cumulative Redeemable Preferred Stock
3.2 million shares were sold in an ATM (at the money) program from 10/19 to 6/20. There are now 5.42 million shares outstanding as of 9/30/2020.
As of 5/2023 there are now 10.2 million shares of this issue outstanding because of ongoing issuance under at the money sales program.