FTAI Aviation Preferred Series C: Yield Is Too Low Given The Junk Credit Rating
Source: SeekingAlpha
2025-04-21 09:10:00 ET
Summary
- I am downgrading FTAI Aviation Series C from buy to hold due to limited upside and high redemption likelihood.
- The Series C shares offer an 8.24% yield, close to the nominal 8.25%, and are redeemable after June 2026.
- The expected reset in 2026 could result in a 10.6% yield, but the high redemption probability caps any potential upside.
- FTAI Aviation's non-investment grade rating and current yield do not justify a higher stock price, making it a hold.
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FTAI Aviation Preferred Series C: Yield Is Too Low Given The Junk Credit Rating
FTAI Aviation Ltd. 9.500% Fixed-Rate Reset Series D Cumulative Perpetual Redeemable Preferred Shares
NASDAQ: FTAIM
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