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Date Issued   6/21/2016 Shares Issued  8,000,000    Overallotment Shares  1,200,000 S&P Rating   NR   Moodys Rating   NR Security Ticker Symbol   AMH-E    OTC Grey Market  AHMRP Market Traded ON   NYSE Dividend Payment Paid on the last day of March, June, September and December beginning on 09/30/2016 Quarterly Dividend   .397  Annual Dividend   1.5875 Securities may be redeemed, at…

Summit Hotel Properties Inc. (NYSE:INN) is the latest lodging REIT to tap the equity markets via a new preferred stock offering. Unfortunately, like almost all the other recent offerings, the coupon offered doesn’t reflect the long term risk/reward one undertakes when owning preferred stocks from lodging REIT issues.  The coupon on the new issue is a skimpy 6.45%. Currently INN…

Date Issued   6/20/2016 Shares Issued  3,000,000    Overallotment Shares  None S&P Rating   NR   Moodys Rating   NR Security Ticker Symbol   INN-D    OTC Grey Market  SMTTP Market Traded ON   NYSE Dividend Payment Paid on the last day of February, May, August and November beginning on 08/31/2016 Quarterly Dividend   .403  Annual Dividend   1.6125 Securities may be redeemed, at…

In our 10 years of income investing we have not seen a market like the one we are currently experiencing.  Demand for virtually all preferred stocks and baby bonds has remained strong all year and we have reached a point where even the junky stuff is trading near $25.  So where do we go from here and what actions are…

Offshore energy services provider Teekay Offshore Partners (NYSE:TOO) has announced a new preferred stock offering with a 10.50% coupon.  Unfortunately for preferred stock investors these shares have been placed in a private placement and we do not expect them to trade on any stock exchange (at least at this time).