Some newsletter said it was overpriced.They are wrong.I have met President at NAREIT show andthis is an old solid Triple Net Company.CMO might be influenced by rates up.but not tiny pfd.
the call risk is high. I would rather have NLY-A or one selling under the call price which do not have as much risk.
They can buy it back They can barrow the money for much less then what they have to pay for dividend . That would be big savings.So it is a possibility
d DX-D called for conversion to common.
But the company can redeem the preferred at $12.50. Are there any indications that CMO may be preparing to do so? Could they go into the debt markets and borrow money at a significantly lower rate?