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

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Hmmm, neither Merrill or Fidelity seems to have HTLFP as an option...


Wanted to look at it for my daughter..


OK.... still under HRLLL
 
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Been buying a bit of MONMOUTH REAL ESTATE INVT CORP PFD SER C. 6.125% coupon. It's still below par. Had an limit order in for a relatively small amount of shares and only a third was filled today my full order filled last week. It's call date is September 2021.

Also, wanted to share some ideas/get thoughts on the following. I bought a bit of each earlier in the week
- (EPRF) INNOVATOR S&P INVESTMENT GRADE PREFERRED ETF

- JPT NUVEEN PREFERRD AND INCM CEF with a termination date in March 2022 16% leverage. Had been trading at a bit of a discount earlier this week now a bit above NAV.
 
Henry Lili said:
Been buying a bit of MONMOUTH REAL ESTATE INVT CORP PFD SER C. 6.125% coupon. It's still below par. Had an limit order in for a relatively small amount of shares and only a third was filled today my full order filled last week. It's call date is September 2021.

Also, wanted to share some ideas/get thoughts on the following. I bought a bit of each earlier in the week
- (EPRF) INNOVATOR S&P INVESTMENT GRADE PREFERRED ETF

- JPTNUVEEN PREFERRD AND INCM CEF with a termination date in March 2022 16% leverage. Had been trading at a bit of a discount earlier this week now a bit above NAV.
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Henry, Personally I see nothing wrong with MNR-C. I have owned it before many times. Would consider again. I just got to have the right cash available in tax free for me to do it.
Sorry, I dont follow any funds, so I am of no help.
 
bobandsherry said:
Big spreads in thinly traded shares not uncommon, especially shares that someone doesn't really want to trade except for the right price with a GTC order. And then when someone puts an order in without a limit price -- boom, it gets executed at the crazy price. I usually stay clear of low volume issues because if can be hard to get out when you want at the price I want.
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Bob that is allure of why I love illiquids...And real illiquid..Finally got the damn INPAP the other day at $94.50. Been trying for 2 years and had only 2 shares to show before I got my 100. But I can hold indefinitely. My mantra on illiquids is...Buy into liquidity and sell into illiquidity.
Another real illiquid is CNIGP. Seems like any buys or sells I am linked to, lol. I got rid of mine in $24 plus range and a few in mid $23 range. Bought back at $22.25 and needed 119 for my full position. Noticed there was a market maker or programmed tracker out when I put a high ask at $23.25 to smoke some out. Noticed the same ask was out next day. So right before close yesterday I put ask of $22.61 and let it expire. The price came right up this morning as planned and I bought them. I couldnt drive it lower as I was afraid I would lose 119 shares trying to get the 119 shares.
 
pb4uski said:
Does anyone know what is going on with Hawaiian Electric 5% preferred... HAWLN?

Both MarketWatch and Fidelity say last trade was $28.70 and I'd love to sell at that price, but trading volume seems really thin and bid is $21.76 and ask is $28.75.... a pretty wide bid/ask spread.

$28.70 just seems to good to be true and may just be an anolamy.
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SO put in your limit order and if it executes you are happy, and if not you are happy. I got my Mother into these shares and had to wait forever for them to go under par years back.
 
Henry Lili said:
Been buying a bit of MONMOUTH REAL ESTATE INVT CORP PFD SER C. 6.125% coupon. It's still below par. Had an limit order in for a relatively small amount of shares and only a third was filled today my full order filled last week. It's call date is September 2021.

Also, wanted to share some ideas/get thoughts on the following. I bought a bit of each earlier in the week
- (EPRF) INNOVATOR S&P INVESTMENT GRADE PREFERRED ETF

- JPT NUVEEN PREFERRD AND INCM CEF with a termination date in March 2022 16% leverage. Had been trading at a bit of a discount earlier this week now a bit above NAV.
Click to expand...
I just took at look at MRC, looks like a great customer base for tenants, blue chip companies. My only concern is they are highly dependent on FedEx ground. 50% of the rents come from FedEx Ground. The then have 6% for other FedEx operations. The next largest Tenant is Amazon at 6%. While FedEx is a good company (BBB rated), having so much dependency on one company would just be something to keep an eye on should that relationship turn south.
 
bobandsherry said:
I just took at look at MRC, looks like a great customer base for tenants, blue chip companies. My only concern is they are highly dependent on FedEx ground. 50% of the rents come from FedEx Ground. The then have 6% for other FedEx operations. The next largest Tenant is Amazon at 6%. While FedEx is a good company (BBB rated), having so much dependency on one company would just be something to keep an eye on should that relationship turn south.
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Bob, that is where you have to have the faith if you are a MNR believer. But MNR has been in bed with Fed Ex since the early 1990s. So I think they work well together.
 
I just tried to buy some ALLY-A on Fidelity and got this:

Error(DB0002) This security is restricted from online opening trades or restricted to closing trades only. For more information please contact a Fidelity representative at 800-544-6666.
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Any idea why?
 
This is now available for trade under ticker SAK: Saratoga Investment Corp 7.25% Notes due 6/30/2025 -- Callable 6/24/22

Saratoga Investment Corp. (the “Company”) (NYSE: SAR) announced the commencement of a registered public offering of Notes due 2025 (the “Notes”). The Company also announced that it has received an investment grade rating of “BBB” from Egan-Jones Ratings Company, an independent, unaffiliated rating agency.
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Saratoga Investment Corp. Announces Offering of Notes Due 2025 and BBB Investment Grade Rating from Egan-Jones Ratings Company
 
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pb4uski said:
I just tried to buy some ALLY-A on Fidelity and got this:



Any idea why?
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I got that on NSS... but was able to buy other preferred...


You have to call in your order and they will read you the text from Quantum online... I said he did not have to as I had it open :LOL:


This is one of the reason I have not decided to go to Fidelity... I do not want restrictions placed on my trading...
 
bobandsherry said:
This is now available for trade under ticker SAK: Saratoga Investment Corp 7.25% Notes due 6/30/2025 -- Callable 6/24/22



Saratoga Investment Corp. Announces Offering of Notes Due 2025 and BBB Investment Grade Rating from Egan-Jones Ratings Company
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I'm still looking for yield.

WHO is Saratoga Investment Corp? Has anyone bought any of this SAK?

I am trying to buy a little MNR-C.

Have been looking at ALLY-A but the price scares me. Also a little gun-shy of anything related to GM. But this is based on how GM handled things during the ~2008 meltdown. Not sure how much arms length there is between GM and GMAC.
 
bobandsherry said:
I just took at look at MRC, looks like a great customer base for tenants, blue chip companies. My only concern is they are highly dependent on FedEx ground. 50% of the rents come from FedEx Ground. The then have 6% for other FedEx operations. The next largest Tenant is Amazon at 6%. While FedEx is a good company (BBB rated), having so much dependency on one company would just be something to keep an eye on should that relationship turn south.
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Yup. Thanks for the repl.
 
Mulligan said:
Henry, Personally I see nothing wrong with MNR-C. I have owned it before many times. Would consider again. I just got to have the right cash available in tax free for me to do it.
Sorry, I dont follow any funds, so I am of no help.
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Thanks for the reply
 
Born2Fish said:
I'm still looking for yield.

WHO is Saratoga Investment Corp? Has anyone bought any of this SAK?

I am trying to buy a little MNR-C.

Have been looking at ALLY-A but the price scares me. Also a little gun-shy of anything related to GM. But this is based on how GM handled things during the ~2008 meltdown. Not sure how much arms length there is between GM and GMAC.
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Born, I dont know what your yield requirements are, but I snagged 85 more shares of EP-C at $44.85 at market close. That is 6.44% YTM in 2028, Baa3/BB+ split rated that KMI guarantees payment. I have been buying on dips and not flipping. This is a core hold now. KMI is the premiere US nat gas pipeline carrier. Gotta watch out for wide bid/ask spreads here. I purposely put a sub 100 share bid out because I thought they might go despite being under last sell as sub 100 share purcjases wont change official price.
 
Has anyone bought SAK and can anyone explain the strange rating to yield relationship? Is it because the rating is from a lower tier outfit, and therefore not really relevant?
 
brokrken said:
Has anyone bought SAK and can anyone explain the strange rating to yield relationship? Is it because the rating is from a lower tier outfit, and therefore not really relevant?
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Egan Jones is softer than a pillow. I dont even recognize their ratings personally.
 
Mulligan said:
Born, I dont know what your yield requirements are, but I snagged 85 more shares of EP-C at $44.85 at market close. That is 6.44% YTM in 2028, Baa3/BB+ split rated that KMI guarantees payment. I have been buying on dips and not flipping. This is a core hold now. KMI is the premiere US nat gas pipeline carrier. Gotta watch out for wide bid/ask spreads here. I purposely put a sub 100 share bid out because I thought they might go despite being under last sell as sub 100 share purcjases wont change official price.
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I have 50 shares of EP-C from a while ago and been trying to get more sub-par. No luck so far.
 
aja8888 said:
Isn't it sub par now?
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Yes, actually!! :facepalm::facepalm::facepalm:

I previously bought at $45 and am trying to fetch in the same area.

(I promise I haven/t started drinking yet!!!)

Trying to learn a few of Mulli's tricks for sneaking in a trade right at close.
 
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Born2Fish said:
Yes, actually!! :facepalm::facepalm::facepalm:

I previously bought at $45 and am trying to fetch in the same area.

(I promise I haven/t started drinking yet!!!)

Trying to learn a few of Mulli's tricks for sneaking in a trade right at close.
Click to expand...


Born, you had me scared I was senile like Aja, thinking I was crazy it wasnt under par already, ha.
 
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