New Preferred Stock IPOs, August 2021

Summary

  • As August 2021 comes to a close, we look back at the new preferred stocks and ETDs introduced during the month, offering annual yields ranging from 3.95% to 9%.
  • Here is a comparison against highest quality preferred stocks in our coverage universe, as ranked by our internal “CDx3 Compliance Score” metric.
  • CDx3 preferreds ranked 10 out of 10 are meanwhile selling for an average premium to par of 8% and offer an average current yield of 5.14%.
  • Past preferred stock IPOs now trading below par: a look at recent par crosses.

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New Preferreds August 2021

About the new issues

Brookfield Asset Management (NYSE: BAM) completed its privatization of Brookfield Property Partners (formerly NASDAQ: BPY), which had allowed BPY holders to either receive cash or to exchange their common units

This article was written by

Whether you are the kind of investor who sticks with preferred stocks with a CDx3 Compliance Score rated 10 out of 10, or whether your portfolio has room for 9-score-and-lower securities, stay tuned for future articles recapping new IPOs and interesting preferred stock activity that we notice here at the CDx3 Notification Service.

Disclosure: I/we have a beneficial long position in the shares of BAM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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