2024-04-06 10:00:00 ET
Summary
- Hovnanian Enterprises is a homebuilder in the United States, offering various types of residential homes. The company ranks among the largest homebuilding companies in the U.S. with revenues of $2.76b.
- Here I review both the issuer and the issue. The preferred stock issued by Hovnanian Enterprises, HOVNP, has a low coverage and non-cumulative dividends, causing losses for investors.
- While the yield is over 10%, a CCC rating would scare most investors. Its non-cumulative feature burned investors. While high risk-takers might own, the rest should take a pass!
Introduction
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Hovnanian Enterprises Preferred Stock Diversity Comes With Risks