TRTN.PR.F: 7.625% Preferred Shares IPO From Triton International
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Triton International Ltd. has issued 7.625% Series F Cumulative Preferred Shares, offering a 7.69% current yield and an 8.13% yield to call. Despite high leverage, the company's net income sufficiently covers preferred dividends and interest payments. The shares are fairly priced compared to Triton's other preferred stocks.
February 18, 2025 | 5:45 pm
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NEUTRAL IMPACT
Triton International's new 7.625% Series F Preferred Shares provide a solid yield, with the company's net income covering dividends despite high leverage. The shares are fairly priced compared to peers.
The issuance of the 7.625% Series F Preferred Shares by Triton International provides a competitive yield, which is attractive to income-focused investors. However, the company's high leverage might be a concern, though it is mitigated by sufficient net income to cover dividends. The shares are fairly priced, indicating a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80