Equitable Holdings' Preferred Stock, Series A Crosses Above 6.5% Yield Territory

Equitable Holdings' Series A 5.25% perpetual preferred (EQH.PRA) was yielding above 6.5% based on a quarterly dividend annualized to $1.3125. Shares traded as low as $20.18, implying a market yield materially above the coupon (5.25%). This is a market-pricing datapoint for income investors but is limited in scope to this security.

Analysis

Equitable Holdings' Series A 5.25% perpetual preferred (EQH.PRA) was yielding above 6.5% based on a quarterly dividend annualized to $1.3125. Shares traded as low as $20.18, implying a market yield materially above the coupon (5.25%). This is a market-pricing datapoint for income investors but is limited in scope to this security.