There has been an increasing amount of new issue preferred stocks from the REIT sector as REITs are trying to raise perpetual capital at attractive rates. The sizable demand for these preferred has allowed the REITs to offer them at low rates and often with no concession to existing issues.
There has been a spate of issuance of preferred stocks by REITs.
In order to understand the attractiveness of an issue, an investor must have context.
The goal of this note is to provide an overview of the equity REIT preferred market.