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Old 09-03-2021, 11:20 AM   #421
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Originally Posted by youbet View Post
More confusion........ I thought MNR-C was going to be called effective 8-31 due to the consolidation. But apparently not. Next date I see is 9-15, the upcoming call date but no announcement I can see so far.

Anyone know what is going on? I have quite a bit of this fortunately all below PAR.
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Originally Posted by Mulligan View Post
MNR was expected to be bought out but it got rejected. So it will live on near term to see what other proposals bring.

Starwood Capital is said to be considering what it will do next after Monmouth Real Estate Investment (NYSE:MNR) failed to receive enough votes from holders for a sale to Equity Commonwealth (NYSE:EQC), according to a CTFN report.
Equity Commonwealth terminated its deal yesterday after failing to win the the votes necessary to takeover Monmouth (MNR).
I received the 8/31 Div pmt. Is the Div suspended going forward?

Edit to add: Gonna hold for now. Nothing else of interest in the Preferreds.
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Old 09-03-2021, 02:31 PM   #422
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I received the 8/31 Div pmt. Is the Div suspended going forward?

Edit to add: Gonna hold for now. Nothing else of interest in the Preferreds.


MNR-C? No, no concern there. The only concern is how long it lives before its redeemed. Even prior to buyout offers MNR management was musing about redeeming it themselves to save on costs.
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Old 09-03-2021, 03:14 PM   #423
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MNR-C? No, no concern there. The only concern is how long it lives before its redeemed. Even prior to buyout offers MNR management was musing about redeeming it themselves to save on costs.
Thanks for the confirmation.
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Old 09-14-2021, 09:35 AM   #424
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Another one bites the dust. CBB-PB. Just found this on Quantum Online:

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Cincinnati Bell also announced that, in connection with the completion of the Transaction, it will redeem all of its issued and outstanding 6 3/4% Cumulative Convertible Preferred Shares, without par value (the “6 3/4% Preferred Shares”), and the corresponding depositary shares, each representing a one-twentieth interest in a 6 3/4% Preferred Share (the “Depositary Shares”)
I know this has been a low-rated one, but the dividends came in every quarter and the 6.75% yield will be hard to match.

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Old 09-14-2021, 10:25 AM   #425
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Another one bites the dust. CBB-PB. Just found this on Quantum Online:



I know this has been a low-rated one, but the dividends came in every quarter and the 6.75% yield will be hard to match.

BrianB
Darn, I think I have some of these

Thanks for the posting
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Old 09-19-2021, 08:04 AM   #426
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And another, NNN-PF, National Retail Properties 5.2% called 10/15/21.
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Old 09-22-2021, 10:32 AM   #427
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Not a recommendation, but observation for those who want to do their due diligence. HCDIP drop of $1.75 (7.4%), trading at $22.20. Goes ExD 9/29 (div declared), 8% coupon rate (9% yield), QDI, pays monthly. Company filed secondary offering to sell another million shares of this issue to fund their development which seems to be reason for drop in price.

This has a premium paid in cases of change of control in the next couple of years:
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Change of Control. If we undergo a “Change of Control” (as defined below) that was pre-approved by the Company’s Board of Directors, holders of Series A Preferred Shares have the option to (i) demand that we redeem the Series A Preferred Shares at (a) $26.63 per Series A Preferred Share from the date of issuance until and not including June 9, 2022, (b) $25.81 per Series A Preferred Share on or after June 9, 2022 until and not including June 9, 2023, and (c) $25.00 on or after June 9, 2023, in each case plus the amount of any accumulated and unpaid dividends thereon to but not including the date of redemption (whether or not such dividends shall have been declared); (ii) continue to hold the Series A Preferred Shares; or (iii) convert some or all of the Series A Preferred Shares together with accrued but unpaid dividends.
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Old 09-23-2021, 09:49 AM   #428
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How do you guys feel about taking a chance on SCHW-D. It just went past call on 6/1. You can get it now for about a 1 divy premium, so your call risk is covered on 12/1. If they happen to hang on to it, you've got a current yield of about 5.85%
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Old Yesterday, 07:02 AM   #429
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Watford Intends to De-List and De-Register its Cumulative Redeemable Preference Shares (Nasdaq: WTREP) Following Merger

https://www.globenewswire.com/news-r...ng-Merger.html
Just noticed this week that Quicken values WTREP at zero...same with Schwab where I hold it. It also no longer comes up on MarketWatch, but does on Yahoo Finance with a current price of $25.09... but that is an old July 12th price.

Tempted to sell it but I'll hold out a little while and hope that they call it.
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Old Yesterday, 07:17 AM   #430
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Just noticed this week that Quicken values WTREP at zero...same with Schwab where I hold it. Also, no longer comes up on MarketWatch, but does on Yahoo Finance with a current price of $25.09... but that is an old July 12th price.

Tempted to sell it but I'll hold out a little while and hope that they call it.
I unloaded mine before it was delisted, didn't want to deal with it. And there were other options to get a decent yield. As this point I'd just hold and collect the dividend vs trying to sell and have to call in and pay any fees. Could be it gets called soon and takes care of itself for you.
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Old Today, 06:18 PM   #431
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I unloaded mine before it was delisted, didn't want to deal with it. And there were other options to get a decent yield. As this point I'd just hold and collect the dividend vs trying to sell and have to call in and pay any fees. Could be it gets called soon and takes care of itself for you.


Guys, WTREP is untradeable now. No ticker symbol. The pricing on brokerage account may go to zero due to stale pricing. Im fine holding my approx. 2k shares. I dont know of many issues with near IG credit with a 7% floor and higher if rates go up. I would be surprised if it makes it to the new year though without being redeemed.
Side note, if you are looking for extra safe and 5% for a year have you considered IBONDs? 10k max each year per person but you could get 5k more through a tax refund. IBonds track inflation. You would get 3.5% annualized for 6 months and about 6.5% annualized falling 6 months if bought before end of Oct.
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