Preferreds Weekly Review: B. Riley Suspends Dividends

2025-02-02 23:59:00 ET

Summary

• We take a look at the action in preferreds and baby bonds through the fourth week of January and highlight some of the key themes we are watching.
• Preferred stocks had a strong week with a 1% return, while Treasury yields remained stable and credit spreads tightened near multi-year lows.
• B. Riley suspended its preferred dividends, causing significant share price drops; dividends are cumulative and will continue to accrue.
• DX.PR.C and AGNCP offer attractive yields in the mREIT sector, with the latter trading below "par".

Welcome to another installment of our Preferreds Market Weekly Review, where we discuss preferred stock and baby bond market activity from both the bottom-up, highlighting individual news and events, as well as top-down, providing an overview of the broader market. We also try to add some historical context as well as relevant themes that look to be driving markets or that investors ought to be mindful of. This update covers the period through the fourth week of January....

Read the full article on Seeking Alpha

For further details see: