marpro ,
richardsok ,
bugman ,
Are the preferred on these still attractive? How did they hold up?
In any case, any one recently bought AGNC / TWO common or thinking about buying? Please unpack these products (e.g., hedging and leverage structures) if you can / willing.
Adding
graust to the distribution.
P.S.: new offerings may be inevitable if the P&L continues to be negative.
I own several floating rate preferreds that yield 9-10% (small blocks of them….usually less than 100 shares but a few more than 100. I figure this is better than money market yields while the holding size is small to deal with the obviously higher volatility):
AGNCN (yield 10-11%….already floating)
ARR-C (one of bigger holdings….9% plus and pays monthly)
ATLCP (small fintech company yielding 9% plus)
BAC-L and WFC-L ($1,000 face busted convertibles yielding 6-7%)
CHSCL/M/N/O (ag partnership yielding +/- 7%)
CUBI-E/F (internet bank, floating, +/- 10%)
ECC-D (CLO equity CEF preferred yielding 8+%, monthly)
IIPR-A (cannabis REIT…yields 8+%; usually traded ~$25.5-$27; decent divi capture trade/channel trade if patient)
LANDP (farmland REIT monthly pay preferred 8+%)
NLY-F (floating, yields 10%)
PEB-G (hotel REIT….ugly, but yields 9%)
Any mREIT preferred that’s 10% (PMT-C, MITT-_, TWO-_)
SLMBP (student loan preferred, floating, $100 par, 10% plus)
TECTP (micro cap bank preferred; $10 par, 8%; also channel/divi capture trade…ex date is 11/2)
TFINP (another sketchy bank but yields 9%)
VNO-N (office REIT….yikes….9% yield though)
WAFDP (regional bank plus 9+%)
WCC-A (I think it’s an 11% face….trades in $26-range mostly so yields 10%)
ZIONO (regional bank, floating, 9-10%)
Sorry for the long list…I own dribs and drabs, and often do divi capture with these and others, especially if I can buy them on a rising rates sell off, while retaining small pieces of all of them. Again, hold less than I should, and preferreds are low volume trades generally, so you can take advantage of the inefficient market.
