AdCare Health Systems SellS More Preferred Shares
By: Tim McPartland,
Senior living company AdCare Health Systems (ticker:ADK) has sold more shares of their outstanding A series 10.875% preferreds. The shares had been trading up near $28 until the announcement of further shares being sold. Shares closed the day $26.25.
These shares are perpetual and cumulative and with the current yield of 10.36% they may represent a decent buy for those looking for high yield without venturing into the oil and gas patch. Please due your due diligence as we have not recently reviewed AdCare’s financials.
1st call is 12/1/2017 thus yield to worst is a healthy 8.77%.
Details of the original issue are here.
Thanks to Larry for the heads up on this new issuance.