The preferreds have a change of control provision that would require redemption at par.
I have CMRE C. CMRE has 8 times the cash flow needed to pay all of the preferreds yearly. I consider it a very safe investment. Much like the NRF preferreds.
Will they again decide that the market does appreciate the high yield, and decide they can better use the cas to invest?
Just as expected. Watch HASI go up.