But just turn around, it'll still be there.
Preferred getting killed suggests that nobody is envisioning a buyout scenario in which the preferreds are redeemed at par. Or envisioning a buyout at all. But what they ARE envisioning must be bad, baaaad.
Yeah, people feel better about being robbed if it's the government doing the robbing. Because the government is helping the poor and downtrodden, dontcha see?
I doubt Brixmor is a big factor today. REITs have been getting hammered for weeks. The accounting irregularities at Brix involved a relatively small amount of money and were self-reported by the company's own audit committee. The executives involved have been fired. No, I think today is just more of the same old same old for REITs.
Nonetheless, it is becoming increasingly apparent that something is wrong under the surface. At these yields it's free money, and who turns down free money? Yet, it's happening.
dar, if NRF goes private what happens with the preferreds? Do they still trade on NYSE? Pink sheets? Grey market? I doubt Hamo would want to redeem them at par. Watch for trickeration....