The coupon is fixed at 6.25% until 1/30/2027 at which time the rate is reset at the 5 year treasury plus a spread of 4.99% afterwhich the rate resets every 5 years.
Sector: REIT
Granite Point Mortgage Trust Inc 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Coupon is fixed at 7.00% until 1/14/2027 after which the rate is reset at 3 month SOFR plus a fixed spread of 5.83%. The coupon has a floor of 7.00% (coupon will never be below 7.00%).
The company is selling another 3.2 million shares (plus 480,000 for over allotment) on 1/18/2022.
New York Mortgage Trust 7.00% Series G Cumulative Redeemable Preferred Stock
NexPoint Diversified Real Estate Trust 5.50% Series A Preferred Stock
Hudson Pacific Properties Inc 4.75% Series C Cumulative Redeemable Preferred Stock