The MNR Pfd A dropped solidly below $25 today for a nice opportunity for yield investors. I held the pfd all through the 2008-2009 debacle and had a chance to trade it, too, to get my basis down. I added today and will add again if it dips to $23.75.
Yes, it looked cheap today. It's callable later this year, but doubt if they will call it. The company has picked up a number of properties over the last few months, mostly with 10 year leases locked in - probably why the common has held up so well.