Saul Centers Sells More Series C Preferred Stock
By: Tim McPartland,
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 would believe that the added shares offered might have knocked the current shares down a bit further–but not the case this time.
Info on the original issue is here.