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State Street Corporation  (NYSE:STT), a large asset manager, has sold a new large issue of preferred stock.  As with all the investment grade preferred issues sold recently the coupon is fairly meager at just 5.35%, although this is a “fixed-to-floating rate issue and after 3/15/2026 the coupon will begin to “float”. This new issue is investment grade having a Moody's…

Newer Master Limited Partnership (MLP) Landmark Infrastructure Partners LP (NASDAQ:LMRK) has sold a new offering of preferred units (preferred stock of master limited partnerships is referred to as “preferred units”). Landmark Infrastructure Partners LP is a MLP that came public in 2015 and specializes in owning or leasing properties that are then leased to cell phone companies, advertisers for billboards…

2 new investment grade issues have begun trading in the last couple of days and they have been greeted with very strong demand from income investors. 1st off electrical utility Entergy New Orleans has sold a new “baby bond” issue with a modest coupon of 5.50%.  This is a investment grade issue and even with the modest coupon in the…

As March has worn on we had accumulated too much cash in all of the model portfolios and have made some moves to get the money deployed. Readers recall that back in 2015 we had put a high emphasis on purchasing shorter duration securities while minimizing perpetual preferred stocks. In the latter part of 2015 we began to move slowly…

So much for taking a week-long vacation, since it seems that when you plan to take a little time off, you pay a price trying to catch up upon returning and issuers of new preferred stock and baby bonds have made sure we have plenty to do. March thus far has been the busiest new issue month in the last…