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kaptain_lou

kaptain_lou
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  • Preferred Stock Buyers: Time To Change Tactics For Sub-$25 Purchases [View article]
    I would highly recommend opening an account at TD Ameritrade. Over 900,000 shares traded today. I've always been able to pick up new issues with them.
    Jul 18 10:26 PM | Likes Like |Link to Comment
  • Preferred Stock Buyers: Time To Change Tactics For Sub-$25 Purchases [View article]
    Thanks for another great article on preferreds. TD Ameritrade is probably one of the best brokerage firms to purchase preferreds OTC, and I have purchased some on their first day of trading.

    However, if you want advance notice of some of these issues, the subscription to Doug's service is probably the best way to go. I'm subscribing soon, and cost of an individual subscription is only about $15 per month. This cost can easily be recovered if you are an active investor in preferred stocks. During the past year, I have a seen a number of preferreds trade on the OTC or "Grey" market and then promptly move up .25 - .75 cents per share in the first few weeks of trading when they move to the larger stock exchanges.
    Jul 14 10:05 PM | 1 Like Like |Link to Comment
  • Forget About SWANs, Fish And Chowder: Chase Yield In Retirement [View article]
    Actually, I did - on preferred stocks. Sold a decent real estate portfolio in about 2006, sat in some CDs for awhile and then picked up preferreds on the cheap during the crash.

    My timing was not perfect, as some of my properties were sold before the big real estate run-up, but bought investment grade preferreds at $18 or so per share. Many of them were called at $25 and I collected the dividend payments.
    Jul 13 06:58 PM | Likes Like |Link to Comment
  • Forget About SWANs, Fish And Chowder: Chase Yield In Retirement [View article]
    Just as a note to this article, quality preferred stocks should be part of the long term plan for EVERY retiree. My favorites over the past 10 years are solid investment grade companies: PSA, PSB and NNN. They have returned approximatley 7%, with little to no risk as their balance sheets are secure and the rental income is rock solid. The preferreds of O are also worth looking at, once they come back down to a reasonable level.

    Happy investing!

    kaptain lou
    Jul 10 09:38 PM | Likes Like |Link to Comment
  • Forget About SWANs, Fish And Chowder: Chase Yield In Retirement [View article]
    Great discussion here on this topic the past few days. Preferred stocks, as mentioned in this article, are a core holding of mine. Investment rated preferreds such as PSA, PSB and NNN should be a core holding for all income investors looking for secure income in their retirement.
    Jul 8 09:47 PM | Likes Like |Link to Comment
  • Forget About SWANs, Fish And Chowder: Chase Yield In Retirement [View article]
    Great article David. Many investors forget about good investments that yield 6-8% and will allow them to have a comfortable retirement. While it may be prudent to keep some funds in stocks, I believe that preferred stocks are an excellent investment.

    Highly rated preferreds such as NNN and PSB have historically yielded over 7% and investors have always been repaid all dividends and principal. I consider PSA the "Gold Standard" of preferreds, although their current yield is lower than I like in my portfolio.
    Jul 6 05:38 PM | 2 Likes Like |Link to Comment
  • Public Storage - 6% Is Nice, But Not Quite Nice Enough [View article]
    Good article, and thanks for the review of PSA's preferred stock. Unfortunate that some of the other self storage companies do not have other preferred issues out there.

    The yields on PSB, and their low debt level, make it a favorite of mine in the current interest rate environment.

    Thanks for the article.
    May 30 09:33 PM | Likes Like |Link to Comment
  • One Liberty: The Little Triple Net Engine That Could (And 6.6% To Boot) [View article]
    Nice article on a small-cap triple net REIT. Their exposure to Office Depot concerns me a little bit, however, the company may be able to quickly lease these properties to another company. Haverty, while they don't have a credit rating because the company has next to nothing in debt, should be a stable tenant and will always need retail space.

    While I understand some concerns about the Brick & Mortar stores, Americans still love to shop. It's a favorite sport for many people.
    Apr 5 02:34 PM | 2 Likes Like |Link to Comment
  • Digital Realty: Despite Turmoil, New Preferred Is Interesting [View article]
    Great article! Excellent article on one of the biggest players in the sector. The credit rating is split a little bit, at Baa3/BB+, but the company has great cash flow and has over 600 tenants. I've not seen a quality REIT issue a preferred at this rate in some time.

    While the company has certainly underperformed other REITs, income investors will certainly find this issue attractive.
    Mar 21 10:40 PM | Likes Like |Link to Comment
  • Sam Zell Owns Equity Lifestyle, Should I? [View article]
    Great and fair article on ELS. The company has been very well run.

    However, I have one "complaint". By pure coincidence, I was going to buy shares of ELS-C today and this afternoon the ask price really bumped up and I was not willing to pay close to $25 per share. They are a great holding in a retirement account for individuals looking for extra income. I'll just have to place my buy orders before your next article. :)

    Thanks for reminding investors about the preferred shares, as they are not often covered by many authors.

    kaptain lou
    Mar 18 08:55 PM | Likes Like |Link to Comment
  • Public Storage - Put The New Preferred In Storage, Not In Your Portfolio [View article]
    Thanks for another good article on the preferred sector. While the balance sheet of PSA is fantastic, the yield is just too low, especially if these securities are held in a taxable account.

    There are other and better opportunities out there at the present time.
    Mar 17 10:04 PM | Likes Like |Link to Comment
  • 2013 Delivers Higher Dividend Income At Lower Prices To Preferred Stock Investors [View article]
    Doug - I will comment on the new debt issuance by PSA. Considering the loan is only for one year, and rated about A3 for senior unsecured, I would expect the company to pay around 2-3%.

    The company currently picked up a number of properties, and has also purchased more shares of PSB, as they still control about 40% of the company.

    Also, as the loan is only for one year, it's quite possible the company may issued more common stock to pay off some of the loan. Considering the cost to issue new preferreds, it is probably a smart move by the company.
    Jan 1 07:53 PM | Likes Like |Link to Comment
  • 2013 Delivers Higher Dividend Income At Lower Prices To Preferred Stock Investors [View article]
    Thanks for your continued articles on preferreds. The Hughes family has done a wonderful job of managing the company over the past number of years as well.

    In 2014, I'll be upgrading my preferred portfolio with PSA and more shares of PSB.
    Jan 1 07:40 PM | Likes Like |Link to Comment
  • 2013 Delivers Higher Dividend Income At Lower Prices To Preferred Stock Investors [View article]
    Thanks for a good article on preferreds in 2013. Clearly preferreds were trading too high earlier in the year.

    As you mention in your article, some of the preferreds are still mispriced. I have long considered PSA to be the "gold standard" in preferrred investments, due to the fact the company has almost no debt. I'm not quite sure how the market can price AIV's preferred to offer the same yield, when there is clearly much more risk. The balance sheet if AIV is loaded with debt, although the interest rates on the debt are very reasonable at the current time.

    I'm taking advantage of the mispricing on the PSA preferred and will make them a large holding now that they pay nearly 7%.
    Dec 31 01:30 PM | 1 Like Like |Link to Comment
  • Aflac, Inc. Preferred Stock Redefines Long-Term Income Investing [View article]
    Doug, thanks for another good article on exchange traded debt securities. I saw this issuance when it first came out, but the coupon rate was too low for me to purchase at par. Now that the security has dropped in price and the yield is close to 6.5%, it is worth considering in the lower risk area of my portfolio.

    Holdings such as this are perfect for retirement accounts, as there is no tax to pay until I start taking distributions.
    Dec 18 09:36 PM | Likes Like |Link to Comment
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