Sorry Ken, I am no help for you here.
It was worth a try. Actually may replace this REIT common with a REIT preferred that has a better yield.
Sorry Ken, I am no help for you here.
Just to close the loop, I ended up selling the MAA common, thus locking in the big capital gain I had and replacing it with the MAA-I preferred at $66 for 6.4% yield
Coolius, I guess you just recent bought MAA-I? Otherwise, I don't understand that you just got 1 dividend last year. I guess it's off most radars because of how thinly traded it is. I actually didn't expect my bid to get picked up. It only traded 250 shares today and 150 of that was mine!
Also, I just realized that NSS, which quite a few of us own, has just switched from fixed to floating as of Jan 15 with no news of a call. With the 3 Month Libor around 1.7%, this is going to boost our yield by nearly a full 1%. And, with their recent preferred issued at 9% I don't expect a call.
I am on the beach in Mexico, so no trading. But wifi is good! Noticed some preferreds are taking some beatings. Nice to know mine are holding strong and a few even rising. Hopefully nobody owns dirtbag AmTrust. Never trusted that outfit. Their preferreds are down 40% in past week....Ouch!
Ugh - a pitfall of preferred's without maturity and non-cumulative. If they go private is there incentive for them to pay dividends? Something today really caused rally in price. Good luck on the ride.Go ahead rub it in! Like suntan oil on the beach and laugh!
Had 200 bought at about $22.70, DCA another 200 in my spec account at about $20.15. Bought another 100 today for $15.15. Either I'm going to be laughing to the bank or licking my wounds with a wine soaked tongue.
Up to $17 and some change today!
They can't pay common dividends until they resume paying preferred dividends can they?
But you have a good point that non-cumulative gives them an incentive to pay nothing and stiff the preferred until they want to start paying common dividends.
My thought process at this time is that Amtrust is a insurance company used by small business and others, that had some reports of accounting irregularities. The founder's family recently made a $ 300 million private placement for common shares, common shares continued to fall. A recent proposal to take the company private resulting in a 20-25% increase in commons, to the take over amount at $12.25. Why spend so much money for a takeover, where the customers can simply walk away, especially if that company screws over their stockholders. There is almost a $900 million in preferred shares outstanding, and no dividends have ever been missed, and are senior to the common in dividend payments. Hey, it's only money.
I believe the jump up today was the result of a law firm entering into the fray, asking clarification of the preferred shareholders rights in the privatization offer.
https://www.businesswire.com/news/h...ates-Announces-Investigation-Behalf-Preferred
After the close Archer Daniels Midland announced they are bidding for Bunge, entering a potential bidding war with Glencore, I do not know what this will mean for the preferred shares since they will be taken over at a price under the conversion price favorable for preferred stock holder.
Go ahead rub it in! Like suntan oil on the beach and laugh!
Had 200 bought at about $22.70, DCA another 200 in my spec account at about $20.15. Bought another 100 today for $15.15. Either I'm going to be laughing to the bank or licking my wounds with a wine soaked tongue.
Up to $17 and some change today!
My thought process at this time is that Amtrust is a insurance company used by small business and others, that had some reports of accounting irregularities. The founder's family recently made a $ 300 million private placement for common shares, common shares continued to fall. A recent proposal to take the company private resulting in a 20-25% increase in commons, to the take over amount at $12.25. Why spend so much money for a takeover, where the customers can simply walk away, especially if that company screws over their stockholders. There is almost a $900 million in preferred shares outstanding, and no dividends have ever been missed, and are senior to the common in dividend payments. Hey, it's only money.
I believe the jump up today was the result of a law firm entering into the fray, asking clarification of the preferred shareholders rights in the privatization offer.
https://www.businesswire.com/news/h...ates-Announces-Investigation-Behalf-Preferred
Just started to look at this as a play....
But, why not buy the debt securities.... I do not think they can not pay those and the price does not seem to have gone down like the pref....
AFST looks like it is yielding 7.8%.... not like the 10%, but not as much risk either...
Did you ever look at the Phoenix debt, Texas?
Your a bad influence Winemaker...AfSI declared nothing is changing with preferreds so I dabbled with a 200 share purchase this morning. I should sell already and book a small steak dinner profit already!My thought process at this time is that Amtrust is a insurance company used by small business and others, that had some reports of accounting irregularities. The founder's family recently made a $ 300 million private placement for common shares, common shares continued to fall. A recent proposal to take the company private resulting in a 20-25% increase in commons, to the take over amount at $12.25. Why spend so much money for a takeover, where the customers can simply walk away, especially if that company screws over their stockholders. There is almost a $900 million in preferred shares outstanding, and no dividends have ever been missed, and are senior to the common in dividend payments. Hey, it's only money.
I believe the jump up today was the result of a law firm entering into the fray, asking clarification of the preferred shareholders rights in the privatization offer.
https://www.businesswire.com/news/h...ates-Announces-Investigation-Behalf-Preferred
So I have 200 each of the F and B series now.WINEY, I Should have listened to you...Bought 200 more of the B series ago also.. Already up on that one too. Once they came out with the public release it has been shoot fish in a barrell time!
My thought process at this time is that Amtrust is a insurance company used by small business and others, that had some reports of accounting irregularities. The founder's family recently made a $ 300 million private placement for common shares, common shares continued to fall. A recent proposal to take the company private resulting in a 20-25% increase in commons, to the take over amount at $12.25. Why spend so much money for a takeover, where the customers can simply walk away, especially if that company screws over their stockholders. There is almost a $900 million in preferred shares outstanding, and no dividends have ever been missed, and are senior to the common in dividend payments. Hey, it's only money.
I believe the jump up today was the result of a law firm entering into the fray, asking clarification of the preferred shareholders rights in the privatization offer.
https://www.businesswire.com/news/h...ates-Announces-Investigation-Behalf-Preferred
WINEY, I Should have listened to you...Bought 200 more of the B series ago also.. Already up on that one too. Once they came out with the public release it has been shoot fish in a barrell time!