CIM-A Bought at 21.16 .Yields 9.45%. The B and C series preferreds are fixed to floating. The A's fixed at 8% here and are callable. CIM would be smart here to call these in and issue a new series that is fixed to floating. Most mReits have moved to fixed to flaoting. for example, here are the terms for the 7.75% C's;
3 month libor here is 2%. So if the C's were at a floating rate here they would be paying 6.743%. On the other hand, the A's are 8% with no maturity.
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