No. of Recommendations: 6
In my view, LSE preferred C and NLY preferred D are the best preferred bargains that are currently available. For LSE pref. C, the price at the end of the day Friday was $25.40. The first call date on this new issue is 1/25/2018, giving it a full 5 years of call protection. First distribution will be in April. The current yield is 7.13% (coupon is 7.25%). I own LSE preferred B. I was able to purchase it at par value. It is now too expensive, selling for more than $27.
NLY pref. D closed Friday at $25.18. Its first call date is 9/13/2017,
giving it 4.75 years of call protection. Its coupon is 7.5% and its yield to call is 7.3%, based on the most recent trade. Although NLY is a mortgage REIT, based on its long track record and reputable management, I believe the preferreds are safe.
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.