Preferreds Weekly Review: Mortgage REITs See Some Redemptions
Portfolio Pulse from
Preferred stocks had a strong week with a 2% total return, driven by a Treasury rally and narrowing credit spreads. Invesco Mortgage Capital is redeeming its floating-rate preferred IVR.PR.B, which will increase equity coverage.
November 17, 2024 | 11:15 am
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Invesco Mortgage Capital is redeeming its floating-rate preferred IVR.PR.B, which will increase equity coverage.
The redemption of IVR.PR.B by Invesco Mortgage Capital is a positive action as it increases equity coverage, which can strengthen the company's financial position. This move is likely to be viewed favorably by investors, potentially leading to a short-term positive impact on IVR's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80