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Saul Centers (ticker:BFS), a shopping center REIT, has sold additional shares of their already issued and outstanding Series C preferred stock. The shares have a 6.875% coupon and were sold at $25.17/shares---a touch above par.It is interesting to note that the current shares of the Series C outstanding are trading at $25.68/share (off just 25 cents) at this moment.  One…

Date Issued  1/30/2013Shares Offered   5,000,000          Overallotment Shares  600,000Follow On Offering 11/6/2014 Shares Offered   1,600,000           Overallotment Shares NONES&P Rating   NR    Moodys Rating   NRSecurity Ticker Symbol   BFS-CMarket Traded ON   NYSEDividend Payment Paid on the 15th of January, April, July and October beginning on 04/15/2013Quarterly Dividend   .43   Annual Dividend   1.719Securities…

We are adding 2 more positions to the model portfolio (as well as personal accounts).As we continue to look to shorten durations (as noted yesterday when buying the Triangle 7% Senior Notes and many other times in our writings) 2 newer issues fit the need.    Both theCowen Group 8.25% Senior Notes (ticker:COWNL) and the Gladstone 6.75% Term Preferred (OTC Temp Ticker:…

Continuing the slow move toward short duration securities we are buying Triangle Capital's 7% Senior Notes (ticker:TCC) which has a maturity date of 3/15/2019.   This issue has a optional call date of 3/15/2015---meaning this issue could be called away in only 5 months.  We will take a chance it won't be called--but if it is called the issue is trading at par…