Saul Centers Sells More Series C Preferred Stock
By: Tim McPartland,
Saul Centers (ticker:BFS), a shopping center REIT, has sold additional shares of their already issued and outstanding Series C preferred stock. The shares have a 6.875% coupon and were sold at $25.17/shares—a touch above par.
It is interesting to note that the current shares of the Series C outstanding are trading at $25.68/share (off just 25 cents) at this moment. One would believe that the added shares offered might have knocked the current shares down a bit further–but not the case this time.
Info on the original issue is here.
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Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
