CDR's Series C Preferred Stock Shares Cross 10% Yield Mark

CDR’s 6.50% Series C cumulative redeemable preferred (CDR.PRC) traded with an implied annualized dividend yield above 10%, based on a quarterly dividend annualized to $1.625. Shares changed hands as low as $15.56 during Thursday’s trading, suggesting weaker price levels relative to the stated dividend.

Analysis

CDR’s 6.50% Series C cumulative redeemable preferred (CDR.PRC) traded with an implied annualized dividend yield above 10%, based on a quarterly dividend annualized to $1.625. Shares changed hands as low as $15.56 during Thursday’s trading, suggesting weaker price levels relative to the stated dividend.