dbrg preferreds are yielding around 10%

[johnsmith]

The company reinstated a common dividend recently of 1c/share per quarter.

They repurchased around 108 million worth of common and preferred in 3Q22.

Seems to have enough liquidity and cash.

Debt is a little high.

[steelpony10]

        Well it lost about 55% of it’s value to get there this year and posters are afraid of CEF’s run by pros. What a world. Lol. 

         Anyway check JCE a Nuveen CEF. Mimics the S&P (and SCHD) and I think distributes cap gains and has relatively little leverage. Great record to date, about 11 years. Great for a taxable account with higher variable distributions then either of those. Hopefully it won’t give any novices hives.

[ECE Prof]

Nov 29, 2022 21:35:28 GMT steelpony10 said:

        Well it lost about 55% of it’s value to get there this year and posters are afraid of CEF’s run by pros. What a world. Lol. 

         Anyway check JCE a Nuveen CEF. Mimics the S&P (and SCHD) and I think distributes cap gains and has relatively little leverage. Great record to date, about 11 years. Great for a taxable account with higher variable distributions then either of those. Hopefully it won’t give any novices hives.

Add one more to LOL. Yes, indeed. LOL again.

The real reason I lost money in 2022 is not because of PDI or ECC but QQQ and VGT. At the least, I cashed out of QQQ early in May-June. But alas, the real loss is in VGT. The tragedy is that I invested my PDI and ECC investments in QQQ and VGT, all lost. I am out of Vanguard now – 100% transferred to FIDO as of today. I do not have to live by their rules. Good ridden.

[steelpony10]

ECE Prof ,

     Individual investments for any purpose are the riskiest investments. I’ve been reading that for years. Many hovered around BA, T and GE when they tanked for the yield. I don’t know the story on DPRG but there was mass abandonment regarding it’s future prospects almost double the general downturn.

      Well I buy and hold so I’m temporarily less rich. Life is full of ups and downs so add this to the pile. I’m starting a CEF section in our taxable account hopefully early next year. I need another place to invest excess cash (for immediate benefits) since some of my current choices (VTI) are dead in the water. I see some income investments may be starting to recover though. I hope that’s a temporary blip. I’m “thinking” this lasts until after 2025.

[dougj1]

Steelpony10- What is your opinion on municipal CEF's such as PMX which would go with the other CEF's we own?  Or anyone who would like to comment - 

[johnsmith]

so I know some people were interested in preferreds.

Just an update that all 3 DBRG preferreds are now yielding 9%+ in the market right now.

They pay a small 1c/qtr dividend, so very small minor protection for the preferred dividend.

bobfl

[johnsmith]

SLG-I is above 9%

CIO-A 9%+

VNO-L
VNO-M
VNO-N
VNO-O
VNORP

office reits 9%+. do your own due diligence.

ACP-A
HFRO-A
NCV-A
NCZ-A
OPP-A
OPP-B
RIV-A

XFLT-A

These are CEF preferreds. all yielding 6%+. Regulatory demands need 200% asset coverage of these preferreds, so they should be very safe.

[bobfl]

Mar 16, 2023 1:15:29 GMT johnsmith said:

SLG-I is above 9%

CIO-A 9%+

VNO-L
VNO-M
VNO-N
VNO-O
VNORP

office reits 9%+. do your own due diligence.

ACP-A
HFRO-A
NCV-A
NCZ-A
OPP-A
OPP-B
RIV-A

XFLT-A

These are CEF preferreds. all yielding 6%+. Regulatory demands need 200% asset coverage of these preferreds, so they should be very safe.

I got so conservative with my preferreds that I am leaving money on the table by sticking to actual preferreds that are paying slightly over 6% and below, but that were written in the 4-5% range. But I am OK with that.
I have owned some of the ones you mentioned when the Fed rate was near zero and yield was hard to get, but not now. Thanks for the info.

[johnsmith]

bobfl,

Then the 6%+ CEF preferreds with highly secure asset backing should be right up your alley!

Ignore the Office REIT preferreds.