interesting buy opportunity. Maybe some arbitrageur dropped the stock to buy the new preferred at par with higher coupon.
for emerging junk I found only this one. All the rest is emerging corporate or sovereign (better rating, lower dividends). It has performed so well. Waiting for an entry opportunity.
It's month I want to invest in mortgage with DBL but the premium never comes down. I think I'll buy this one since price is in line with NAV and this is a rarity for PIMCO.
fashion is fashionable. You can't argue with valuations when the company is stylish and is growing. The problem here is that growth has been slowing down and intl operations need a restructuring. The opportunities ahead are many and diverse but after Guess I think the stock needs to correct more.
Usually I go for closed-end funds but now they are way too expensive. The mutual fund u mention seems closed. I bought lots of preferred in the mREITS space. They don't have a rating but I know them well and I consider them safe (AGNC, NLY, CYS).
Frankly I consider the rating of LINN too low compared to SD and CHK. LINE is one of the few companies in the space with positive free cashflow and leverage is not that high if you consider the ebitda/interest.
u can't find it on quantum online. That's the best website for preferreds or those few bonds listed on the exchanges. If you have a broker able to offer bond trading you can check in the corporates list.
Linn energy 8.625& 2020 @current ask price of 108.25 providing a YTM=7.19%.
For those disliking volatility and looking for income is cheap. Higher yield than Chesapeake, better management, less issues.
i think the senior notes of linn energy 8.625& 2020 @current ask price of 108.25 providing a YTM=7.19% is better than the common.
IPO - 7/26/2012 - 3.00 Million Shares @ $25.00/share.
Apollo Commercial Real Estate Finance Inc., 8.625% Series A Cumulative Redeemable Perpetual Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 8/1/2017 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 8.625% per annum ($2.15625 per annum or $0.5390625 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date fixed by the board, not more than 30 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date).
CYS Investments Inc., 7.75% Series A Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 8/3/2017 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 7.75% per annum ($1.9375 per annum or $0.484375 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be the first calendar day of the month in which the payment is due (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends.
I bought the preferred of AGNC but it seems rich now. Better values are MFO, CYSpA, CLNYpA and especially MITTpA. If the PEB preferred come down one bucks I will grab some. CHSPpA is stuck right now. Personally I believe preferreds are very undervalued but we have to consider that Treasuries are falling (especially 30 years). The preferred sector has been very hot and with lots of IPOs. It's already a sign of strength the facts preces are holding up, I guess due to the facts Wall Street is strong at the moment.