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Trading at a Discount to Par

Top Highest Current Yield Highest Monthly-Paying Yield Convertible Preferreds Largest Discount to Liquidation Preference Trading at a Premium to Par Trading at a Discount to Par Recently Crossed Below Par Perpetual Preferreds Fixed-to-Floating Rate Preferred Stock ETFs Baby Bonds ($25 Notes) New Preferred Offerings (last 18 months) Safe-Dividend Preferreds (cumulative, paying, non-distressed) Dow Components S&P 500 Components
SymbolIssuerSectorCouponPriceParYieldPrem/DiscFreq
PW'A Power REIT REIT - Diversified 7.750% 9.00 25 -64.00% quarterly
RC'C Ready Capital Corp REIT - Diversified 6.250% 12.45 25 12.56% -50.22% quarterly
CYCCP Cyclacel Pharmaceuticals Healthcare 6.000% 5.05 10 11.88% -49.50% quarterly
RC'E Ready Capital Corp REIT - Diversified 6.500% 13.05 25 12.45% -47.80% quarterly
NXDT'A NEXPOINT DIVERSIFIED REA REIT - Diversified 5.500% 13.13 25 10.47% -47.48% quarterly
CTA'A EIDP Inc Materials 3.500% 52.92 100 6.61% -47.08% quarterly
RILYL B. Riley Financial Inc Baby Bond 7.375% 13.60 25 -45.60% quarterly
BHR'B Braemar Hotels & Resorts REIT - Diversified 5.500% 13.88 25 9.91% -44.48% quarterly
HPP'C Hudson Pacific Propertie REIT - Diversified 4.750% 14.28 25 8.32% -42.88% quarterly
USB'Q US BANCORP \DE\ Banks 3.750% 14.37 25 6.52% -42.52% quarterly
VNO'O VORNADO REALTY TRUST REIT - Diversified 4.450% 14.78 25 7.53% -40.90% quarterly
STRD Strategy Finance Services 10.000% 59.59 100 16.78% -40.41% quarterly
PSA'N Public Storage REIT - Diversified 3.875% 14.99 25 6.46% -40.04% quarterly
PSA'O Public Storage REIT - Diversified 3.900% 15.01 25 6.50% -39.96% quarterly
PSA'Q Public Storage REIT - Diversified 3.950% 15.20 25 6.50% -39.20% quarterly
RNR'G RENAISSANCERE HOLDINGS L Insurance 4.200% 15.28 25 6.87% -38.88% quarterly
DBRG'I DigitalBridge Group, Inc Investment Advice 7.150% 15.30 25 11.68% -38.80% quarterly
USB'R US BANCORP \DE\ Banks 4.000% 15.31 25 6.53% -38.76% quarterly
DBRG'H DigitalBridge Group, Inc Investment Advice 7.125% 15.35 25 11.61% -38.62% quarterly
BOH'A BANK OF HAWAII CORP Banks 4.375% 15.37 25 7.12% -38.52% quarterly
PSA'R Public Storage REIT - Diversified 4.000% 15.44 25 6.48% -38.22% quarterly
STRK Strategy Finance Services 8.000% 61.80 100 12.94% -38.20% quarterly
PSA'P Public Storage REIT - Diversified 4.000% 15.45 25 6.47% -38.20% quarterly
COF'N CAPITAL ONE FINANCIAL CO Banks 4.250% 15.46 25 6.87% -38.16% quarterly
OPP'A RiverNorth/DoubleLine St Closed-End Fund 4.375% 15.55 25 7.03% -37.80% quarterly
DBRG'J DigitalBridge Group, Inc Investment Advice 7.125% 15.66 25 11.37% -37.36% quarterly
ABR'E ARBOR REALTY TRUST INC REIT - Diversified 6.250% 15.78 25 9.90% -36.90% quarterly
BPYPM Brookfield Property Pref REITs 6.250% 15.80 25 9.89% -36.78% quarterly
PSA'S Public Storage REIT - Diversified 4.100% 15.81 25 6.48% -36.76% quarterly
BPYPP Brookfield Property Pref REITs 6.500% 15.87 25 10.24% -36.53% quarterly
COF'L CAPITAL ONE FINANCIAL CO Banks 4.375% 15.88 25 6.89% -36.48% quarterly
SIGIP Selective Insurance Grou Fire, Marine & Cas 4.600% 15.88 25 7.24% -36.48% quarterly
PSA'M Public Storage REIT - Diversified 4.125% 15.90 25 6.49% -36.40% quarterly
ABR'D ARBOR REALTY TRUST INC REIT - Diversified 6.375% 15.90 25 10.02% -36.40% quarterly
ATH'D Athene Holding Ltd Baby Bond 4.875% 15.97 25 7.63% -36.12% quarterly
SF'D STIFEL FINANCIAL CORP Security Brokers, 4.500% 16.07 25 7.00% -35.72% quarterly
BAC'P BANK OF AMERICA CORP /DE Banks 4.125% 16.22 25 6.36% -35.12% quarterly
RF'E REGIONS FINANCIAL CORP Banks 4.450% 16.23 25 6.85% -35.08% quarterly
HFRO'A HIGHLAND OPPORTUNITIES & Closed-End Fund 5.375% 16.24 25 8.27% -35.04% quarterly
HFRO'B HIGHLAND OPPORTUNITIES & Closed-End Fund 5.375% 16.25 25 8.27% -34.98% quarterly
CTA'B EIDP Inc Materials 4.500% 65.15 100 6.91% -34.85% quarterly
EQH'C Equitable Holdings, Inc. Insurance 4.300% 16.29 25 6.60% -34.84% quarterly
WFC'D WELLS FARGO & COMPANY/MN Banks 4.250% 16.46 25 6.46% -34.16% quarterly
BAC'Q BANK OF AMERICA CORP /DE Banks 4.250% 16.46 25 6.46% -34.16% quarterly
CMS'C CMS ENERGY CORP Electric & Other S 4.200% 16.54 25 6.35% -33.86% quarterly
PCG'I PG&E Corp Electric & Other S 4.360% 16.57 25 6.58% -33.74% quarterly
PSEC'A PROSPECT CAPITAL CORP Closed-End Funds 5.350% 16.62 25 8.05% -33.52% quarterly
CFR'B CULLEN/FROST BANKERS, IN Banks 4.450% 16.63 25 6.69% -33.46% quarterly
MS'O MORGAN STANLEY Security Brokers, 4.250% 16.66 25 6.38% -33.36% quarterly
WHR'A WHIRLPOOL CORP /DE/ Household Applianc 8.500% 33.46 50 12.70% -33.08% quarterly

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