Summary
PFD Chart
Franklin BSP Realty Trust PFD Series E Rates A Sell
Franklin BSP Realty Trust, Inc. faces ongoing financial weakness, with both common and preferred shares rated Sell despite high yields. FBRT's 10.6% preferred yield and 13% common yield are not justified given dividend coverage concerns and a declining earnings trend. The board cut the common dividend by 56% this year, and preferred dividend coverage is a thin 2.3x, highlighting risk.
PFD Vs. DFP: Similar CEFs, But Different Results
DFP Flaherty & Crumrine Dynamic Pfd and Inc Fd has outperformed Flaherty & Flaherty & Crumrine Preferred and Income Fund Inc since DFP's 2013 inception. DFP emphasizes total return with high current income, while PFD focuses on high current income and capital preservation. Key considerations for CEF investors include leverage usage, price vs. NAV discounts, effective duration, floating rate exposure, and credit rating allocation.
Schwab PFD Review Results In Two Hold Ratings
The Charles Schwab Corporation offers two preferred stocks—Series D (5.95%) and Series J (4.45%)—with strong dividend coverage and moderate redemption risk. SCHW's 17.7x dividend coverage ratio and 6.3x total common equity over preferreds reflect robust financial strength supporting preferred dividend payments. Series D is likely to be called before Series J due to its higher coupon, making Series J's high yield-to-call figure largely irrelevant.
Flaherty & Crumrine Preferred and Income Fund Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 36,829 | $428,320 | $384,863.05 | -$43,456.95 | -10.15% |
| PER Paul E. Rasmussen SIT INVESTMENT ASSOCIATES Inc. | 1.46M | $16.71M | $15.38M | -$1.33M | -7.94% |
| JR Jennifer Rouse Summitry LLC | 45,700 | $771,481.44 | $477,565 | -$293,916.44 | -38.1% |
| YA Yinka Akinsola Blue Trust Inc. | 200 | $2,510 | $2,090 | -$420 | -16.73% |
| PF Phillip Fitzsimmons Hennion & Walsh Asset Management Inc. | 40,798 | $439,394.46 | $427,106.1 | -$12,288.36 | -2.8% |
Flaherty & Crumrine Preferred and Income Fund (PFD) FAQ
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Flaherty & Crumrine Preferred and Income Fund Profile
| NYSE Exchange | US Country |
Overview
Flaherty & Crumrine Preferred Income Fund Inc. is a closed-ended equity mutual fund that has been operational since September 28, 1990. It is launched and managed by Flaherty & Crumrine Incorporated, a firm known for its focus on preferred securities. The fund primarily invests in the public equity markets of the United States, concentrating on stocks of companies within the financials sector. By utilizing a strategic investment approach, the fund aims to deliver superior income to its investors through investments in preferred stocks, which are a type of equity security offering fixed dividends. Furthermore, the fund benchmarks its performance against recognized industry indices, notably the Barclays Capital U.S. Aggregate Index and the S&P 500 Index. This positioning allows investors to gauge the fund's performance relative to both fixed-income and equity markets.
Products and Services
- Preferred Securities Investment
The primary service offered by Flaherty & Crumrine Preferred Income Fund Inc. is the investment in preferred securities. These securities combine elements of both equity and debt, providing fixed income along with the potential for capital appreciation, making them attractive for income-focused investors.
- Portfolio Management
The fund is actively managed by a team of professionals at Flaherty & Crumrine Incorporated, who employ a rigorous investment strategy to ensure that the portfolio aligns with the investment objectives while managing risks associated with market fluctuations and credit assessments.
- Performance Benchmarking
To evaluate the effectiveness of its investment strategy, the fund benchmarks its performance against both the Barclays Capital U.S. Aggregate Index and S&P 500 Index. This provides investors with a means to assess how well the fund is performing in relation to broader market dynamics.
- Investor Educational Resources
Flaherty & Crumrine provides a variety of educational resources aimed at helping investors understand the nuances of preferred securities and the strategies employed in managing the fund's investments, thereby empowering them to make informed decisions.
- Regular Distributions
The fund aims to provide regular income distributions to its shareholders, leveraging its investments in preferred securities to deliver steady cash flow. This feature makes it an appealing choice for investors seeking consistent income through dividends.
Contact Information
