A number of Reit preferreds yielding 10% at par, issued 5 years ago,are being called. Recently issued ones are priced to yield about 6%+-7%. TSY has an issue with first call date 2/2009 that at its current price is yielding 9%+. Now, TSY is not among the highly rated Reit issuers, but with the common dividend presenting a safety net, if you will, this seems like a decent place to collect 9+% for almost 3 years and perhaps longer.....??? Anyone aware of a better preferred issue? Especially among the Reits?
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