Preferred Stock Investing-The Good , The Bad and The In Between 2015 - 2020

[Mulligan]

I may finally learn what a true loss is... Finally added a true real second common stock to my collection... I have owned stodgy PEGRY for a while and just added ATGFF. Got tired of watching it drop and drop and finally bought 500 shares just a bit ago.
Has 7% plus divi and management just reiterated 8-10% annual divi increases through 2021... Will hold this long term, so I will find out down the road if I got "Kindered" or not.

[aja8888]

Quote:

Originally Posted by Coolius Well, perhaps I should accept Mulligan's label of being spoiled. Just seems to be steady selling pressure, based on Time&Sales plus level II, in several issues I hold - HBANO, AHT-G, NEE-H, etc. Oh well. Time to turn off the computer and clean up the dog poop on my front lawn ( I do not own a dog ).

Coolius: Steady selling pressure means an equal number of buyers.

Dog poop on your lawn is actually free fertilizer . Let it be and tend to more important tasks like taking a nap.

[Mulligan]

Quote:

Originally Posted by aja8888 Coolius: Steady selling pressure means an equal number of buyers. Dog poop on your lawn is actually free fertilizer . Let it be and tend to more important tasks like taking a nap.

Aja, what do you bet Coolius shut off the computer and slammed laptop shut....And on his way to clean the poop yelled at his wife..."We aint going out for dinner tonight. We got slammed in the stock market today and have lost $25 today. We are going to eat chicken noodle soup until we save that $25 back."
Just teasing you, Coolius...

[aja8888]

Quote:

Originally Posted by Mulligan Aja, what do you bet Coolius shut off the computer and slammed laptop shut....And on his way to clean the poop yelled at his wife..."We aint going out for dinner tonight. We got slammed in the stock market today and have lost $25 today. We are going to eat chicken noodle soup until we save that $25 back." Just teasing you, Coolius...

Chicken noodle soup...Nah PB&J sandwiches on stale bread. Canned soup is too expensive. (kidding, of course)

[Mulligan]

Quote:

Originally Posted by aja8888 Chicken noodle soup...Nah PB&J sandwiches on stale bread. Canned soup is too expensive. (kidding, of course)

You reminded me Aja...Just this week I played in a fancy charity golf tournament that had candy bars and snacks on a table by tee box every other hole...My partner who is 85 years old and a 4 million plus stock portfolio proceeds to pull out a Walmart plastic bag out of his golf bag...And grabs handfuls of candy bars and slim jims at every stop. By the time we were finished his bag was stuffed full of candy. Like a years supply of candy... I couldnt believe it!

[aja8888]

Quote:

Originally Posted by Mulligan You reminded me Aja...Just this week I played in a fancy charity golf tournament that had candy bars and snacks on a table by tee box every other hole...My partner who is 85 years old and a 4 million plus stock portfolio proceeds to pull out a Walmart plastic bag out of his golf bag...And grabs handfuls of candy bars and slim jims at every stop. By the time we were finished his bag was stuffed full of candy. Like a years supply of candy... I couldnt believe it!

At 85, maybe he thought it was Halloween and he was out trick or treating?

(actually, i would probably lift a few Slim Jims for the home pantry also - I like his style!)

[Mulligan]

He said...You guys dont know how much I have donated to this organization....Im getting some of it back today... I grabbed 6 candy bars and that was it... I felt like I was stealing, lol...

[aja8888]

Quote:

Originally Posted by Mulligan ........I felt like I was stealing, lol...

You will get over it in a few more years.....

[Mulligan]

Quote:

Originally Posted by aja8888 You will get over it in a few more years.....

You got any frequent flyer miles to burn, Aja? Need you to fly out west and check up on our friend Coolius and make sure he hasnt harmed himself.....
Waiting to see how TCF-B opens up tomorrow exD... I have no self discipline and bought a few hundred more MH-A today at $25.20... Its like taking candy from a baby on this trade if there are not anymore skeletons from AFSI.

[Mulligan]

Sold my LANDP last week and bought it all back about 25 cents cheaper and still in line for divi this week. Officially outta cash...flat broke... Will set a few low ball bids on a few and just wait. If they ever hit will sell off some TCF-B to pay for it. If nothing happens the MH-A and TCF-B will ride until call. All my other issues I am content holding for a while.

[aja8888]

Quote:

Originally Posted by Mulligan Sold my LANDP last week and bought it all back about 25 cents cheaper and still in line for divi this week. Officially outta cash...flat broke... Will set a few low ball bids on a few and just wait. If they ever hit will sell off some TCF-B to pay for it. If nothing happens the MH-A and TCF-B will ride until call. All my other issues I am content holding for a while.

Make use of the free time buy figuring out your football bets.

(here's some advice - don't bet the Astro's to win it all. Pitching has gone to hell.)

[Running_Man]

Farmland Partners Inc. is issuing a new preferred share with an interesting twist where redemption of the preferred can be more than $25 if Farmland prices increase in the states where they do business. It is set to price at an initial 6% dividend yield. Interesting preferred REIT stock with a different type of asset class

https://www.sec.gov/Archives/edgar/d...2924z424b5.htm

Farmland Partners Inc. Announces Pricing of Public Offering of 6.00% Series B Participating

[Mulligan]

Quote:

Originally Posted by aja8888 Make use of the free time buy figuring out your football bets. (here's some advice - don't bet the Astro's to win it all. Pitching has gone to hell.)

Im locked and loaded already this year, Aja...Dolphins 7.5 over, Cardinals 8 over, Bengals 7.5 over, and Rams 6 under. If you hit the number exactly its a push and you get your money back. If it was all about the money I would have just loaded up on Rams under. They would have to go 7-9 for me to lose. Their offense is just horrible.

[Mulligan]

Quote:

Originally Posted by Running_Man Farmland Partners Inc. is issuing a new preferred share with an interesting twist where redemption of the preferred can be more than $25 if Farmland prices increase in the states where they do business. It is set to price at an initial 6% dividend yield. Interesting preferred REIT stock with a different type of asset class https://www.sec.gov/Archives/edgar/d...2924z424b5.htm Farmland Partners Inc. Announces Pricing of Public Offering of 6.00% Series B Participating

I looked RM, but couldnt get interested. I prefer the LANDP because it is term dated albeit with a less YTM. Had some good flips on this issue, but would like to keep it in the stable. I also like LANDs assets better. Gladstone alluded earlier in year they may come out with another preferred. Due to Gladstones propensity for term preferreds, if they do issue another one and its term, I will jump out of the gate with it, if its plus 6%.

[Mulligan]

Anybody who jumped in on TCF-B a few weeks ago is seeing exactly how a past call "should be called but hasnt" reacts. It just creeps upward. Easiest simplest short term trade of the year in terms of safety and price support. Probably will level off a bit soon until the next divi gets declared as market is very suspicious of a call. MH-A is in same spot now. The only difference is MH has some "skeleton in the closest fears" unlike TCF.

[Coolius]

Quote:

Originally Posted by Mulligan Anybody who jumped in on TCF-B a few weeks ago is seeing exactly how a past call "should be called but hasnt" reacts. It just creeps upward. Easiest simplest short term trade of the year in terms of safety and price support. Probably will level off a bit soon until the next divi gets declared as market is very suspicious of a call.

Yes, this is an almost textbook example of call fears affecting the Preferred price.

Those who bought TCF-B at or below $25.47, have offset the over-par premium with the dividend on September 1. Then its just a matter of hoping they will not call.

Every day without a call, after Sept 1, means 1/2 cent/share earned - a 7.4% annualized ROR.

I was a little late to the party, but managed to buy 800 shares @ $25.46 last week.

[MooreBonds]

Quote:

Originally Posted by Running_Man Farmland Partners Inc. is issuing a new preferred share with an interesting twist where redemption of the preferred can be more than $25 if Farmland prices increase in the states where they do business. It is set to price at an initial 6% dividend yield. Interesting preferred REIT stock with a different type of asset class Farmland Partners Inc. Announces Pricing of Public Offering of 6.00% Series B Participating

Thanks for the heads-up RM. I see where Farmland is already trading under it's permanent symbol (FPI-B). I took a chance on 95 shares in a tax-advantaged account (only had $2,4xx in free cash).

I also gambled on a few hundred MHLD ($7.195) and MH-A ($25.46) in taxable, since those dividends are both qualified, whereas the FPI-B isn't qualified. Also, there's a bit more risk with the MHLD issues. Here's to hoping it's book value is genuine and doesn't blow up any more, and I get the MH-A call notice on my 50th birthday!

[Mulligan]

Quote:

Originally Posted by MooreBonds Thanks for the heads-up RM. I see where Farmland is already trading under it's permanent symbol (FPI-B). I took a chance on 95 shares in a tax-advantaged account (only had $2,4xx in free cash). I also gambled on a few hundred MHLD ($7.195) and MH-A ($25.46) in taxable, since those dividends are both qualified, whereas the FPI-B isn't qualified. Also, there's a bit more risk with the MHLD issues. Here's to hoping it's book value is genuine and doesn't blow up any more, and I get the MH-A call notice on my 50th birthday!

You are braver than me Moorebonds...CEO promised a couple weeks ago MH-A will be called by end of year...If they dont follow through with a call on a 8.25% issue after following dividend. I am out the door!!! Because that would mean there is a reason why it wasnt called....And it sure as hell wont be a good reason or one I am willing to wait and find out why.
Tip toed into my first MLP...Bought some EPD at $24.92 today.

[aja8888]

Quote:

Originally Posted by Mulligan Tip toed into my first MLP...Bought some EPD at $24.92 today.

You are in my league now. Also look at MMP.

Words of caution: Never, I mean NEVER, buy an MLP that is tied to the production of oil & gas.

Midstream is where you want to be, but only in the "best" partnerships.

[Mulligan]

Quote:

Originally Posted by aja8888 You are in my league now. Also look at MMP. Words of caution: Never, I mean NEVER, buy an MLP that is tied to the production of oil & gas. Midstream is where you want to be, but only in the "best" partnerships.

I had to start somewhere, figured a safe one was the way to go...6.75 % is quality to me... I dont understand all the top down structure of MLPs... EPD has stripped itself of all the parent or drop down fee draining crap that I dont understand at all... And I didnt use the formal wording as I forgot what it is called...So it seemed more true and stable and still has investment grade status...I doubt if I stray much from here...Maybe add a bit over time if it presents itself.