For the folks who dont believe preferds are better than common. This article has been in the press for over 1 week now:
Quote: Home Industries Banking The Ratings Game GET EMAIL ALERTS Fannie, Freddie overhaul could mean windfall for preferred stock, analyst says
Published: July 14, 2019 9:31 a.m. ET
Quote: Since the two companies will be issuing more stock, and converting the status of junior preferred shares to common, that will “dilute” the value of the common shares outstanding, by 30-35% or more, Groshans wrote.
For that reason, he’s initiating coverage with a buy rating on the preferred shares and a sell rating on the common. Freddie and Fannie’s common shares have already surged 155% and 166%, respectively, since the start of the year on speculation about the end of the conservatorship.
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