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Bank of America  (NYSE:BAC) has sold a new preferred stock offering. Being a banking company the issue is required to be non-cumulative (if dividends are not declared they are gone forever) and as typical the shares are perpetual (having no stated maturity date).  The issue is NOT investment grade. With this issue being less than investment grade you garner between…

We have lamented the difficulty in buying new issue preferred stocks on the OTC Grey Market at any sort of decent discount to the $25/share issuance price and have been on a mission to determine why these very meager coupon issues are drawing such high demand. As we have reviewed the available data we have finally concluded there is really…

After seeing a sharp advance in income issues in February we felt that preferred stocks and exchange traded debt issues would have somewhat flat performance in March.  Little did we know that income investors had different ideas and continued to swarm into issues driving the average issue up by another 1% (on top of dividend income received). The Yield Hunter…

State Street Corporation  (NYSE:STT), a large asset manager, has sold a new large issue of preferred stock.  As with all the investment grade preferred issues sold recently the coupon is fairly meager at just 5.35%, although this is a “fixed-to-floating rate issue and after 3/15/2026 the coupon will begin to “float”. This new issue is investment grade having a Moody's…

Newer Master Limited Partnership (MLP) Landmark Infrastructure Partners LP (NASDAQ:LMRK) has sold a new offering of preferred units (preferred stock of master limited partnerships is referred to as “preferred units”). Landmark Infrastructure Partners LP is a MLP that came public in 2015 and specializes in owning or leasing properties that are then leased to cell phone companies, advertisers for billboards…