Objective
The purpose of this article is twofold: (1) share a summary of an educational piece I wrote for Institutional Income Plus subscribers on the key aspects of evaluating preferred shares and (2) demonstrate the process on an actual issuance that I own and currently recommend. While detailed, this overview will not and cannot encompass every possible situation as preferreds can be underwritten with an effectively unlimited range of characteristics. I will be following up shortly with two additional preferred share recommendations. Remember: understanding what makes a stock/opportunity attractive is more valuable than a