Featured Articles
Public Storage 5.875% Cumulative Preferred Stock Series A
Tim McPartland | November 20, 2014
Date Issued 11/20/2014Shares Issued 7,000,000 Overallotment Shares 1,000,000S&P Rating BBB+ Moodys Rating A3Security Ticker Symbol PSA-A OTC Temp Ticker PBSTPMarket Traded ON NYSEDividend Payment Paid on the last day of March, June, September and December beginning on 03/31/2015Quarterly Dividend .367 Annual Dividend 1.469Securities may be redeemed, at the issuers option, as early as…
Some Weeks Simply Suck
Tim McPartland | November 20, 2014
Sometimes you have a week that simply sucks---the week where the nervous nellies sell the hell out of one of your holdings and a number of other issues you hold announce secondary offerings. This has been one of those weeks.1st off we hold Escalera Resources preferred shares (ticker:ESCRP). Escalera is a small natural gas company and has always been a dicey holding…
BDC Oxford Lane Capital Sells More 2024 Term Preferred
Tim McPartland | November 20, 2014
Like many of you who have written to us today we have watched Oxford Lane Capital 8.125% Term Preferred (ticker:OXLCN) tumble 50 cents today. Oxford Lane has announced additional shares of this issue are being sold. This is NOT a new issue--just more shares of the older issue.Details of the offering (original prospectus) are here. We think this is a chance…
Billboard Giant Lamar Advertising Converts to REIT
Tim McPartland | November 19, 2014
Giant billboard advertising company Lamar Advertising Company (ticker:LAMR) has completed a merger into its own subsidiary at midnight last night to officially complete a conversion into a real estate investment trust.All shares of the predecessor company are automatically converted to shares in the new REIT. The ticker symbol remains the same (LAMR). The company began to pay a substantial dividend earlier in…
New REITs to Consider
Tim McPartland | November 19, 2014
Large office REIT Paramount Group(ticker:PGRE) has priced their IPO shares at $17.50/share and today they are trading at $18.34/share. At the risk of looking foolish (when/if the shares zoom higher) we have absolutely no interest in these shares. Paramount Group owns higher end office properties in just 3 markets, NYC, Washington DC and San Francisco. There will be a 2.2% yield…