#HYHRD: Preferred WL w/e 3/19 $ARI $CHSP $CLNY $CUBE $GAIN $GLOG $RSO $SHO

I am now screening for and investing in Preferred Securities (Symbols are different almost everywhere you look, but the underlying and the description(s) should help you figure out which one(s) might warrant some further DD on the platform of your choice).

Following are the screening results and updated activity list of preferred shares for the #HYHRD portfolio;

Screening Watch List Update

This Watch List Update is now issued weekly, usually AMC on Fridays, and/or the last trading day of the week. This is my compilation from this past week. Results of this and past screens can be seen on my blog, under Real Results (click on Preferred Watch List).

Hindsight can be 20/20, foresight not so much.

My expectations for the #HYHRD (High Yield High Return Dividend) Preferred Portfolio:

I target a minimum 6% fixed and cumulative dividend yield.

I can’t always hit that, but that’s my target.

Sometimes I hit my target, too; some I exceed by a little, and some by a lot.

Lot’s to do, so let’s get to it.

Last Week’s screening watch list updates;

I *try* to screen the morning before the market opens each day, and then compile the results and post by the end of the trading week.

I mainly use FREE stock screeners on fidelity.com (you need to register to save your screens, but it’s worth it, IMHO).

Preferred Stock Screens

The “Preferred Securities (modified)” screen from the “Expert” screens section on fidelity.com that I have modified; This screen looks for; Revenue Growth (TTM vs. Prior TTM) Is greater than or equal to 2.5%, Cash Flow Growth Rate (5 Yr) Is greater than or equal to 9.5%, Dividend Yield (Annualized) Is greater than or equal to 8%, Interest Coverage Is highest/lowest % in market (Highest 60%), Security Price Is greater than or equal to $10, Volume (90 Day Average) Is greater than or equal to 0.004 (Millions), Coupon Type Is (Fixed), Callable (Yes), Cumulative Dividend Indicator Is (Cumulative).

The “#HYHRDPreferred” screen that I have ‘tweaked’ a bit from the “Expert” screens section on fidelity.com (I like this one best). I look for; Revenue Growth (TTM vs. Prior TTM) Is highest/lowest % in market (Highest 60%), Cash Flow Growth Rate (5 Yr) Is highest/lowest % in market (Highest 40%), Dividend Yield (Annualized) Is highest/lowest % in market (Highest 40%), Interest Coverage Is highest/lowest % in market (Highest 40%), Security Price Is greater than or equal to $10, Volume (90 Day Average) Is greater than or equal to 0.006 (Millions), Coupon Type Is (Fixed), Callable (Yes), Cumulative Dividend Indicator Is (Cumulative).

There’s other criteria that I use, and that further limits the number of stocks that will pass each screen. I believe that all of this criteria, when considered together, yields ‘higher quality’ results.

I also get tips from fellow traders on StockTwits and even from articles written for Seeking Alpha, and some of those tips are quite good. Some are notoriously bad, though, so I still need to due my own own DD (That’s Due Diligence, for the n00bz!). Of course, if a stock looks bad on first pass and has never passed any of my screens, my scrutiny is a bit on the tough side, and some tips are dismissed out of hand. Still, though, some tips do make it through. YMMV!

I used the following Preferred screens this past week, and the dynamic (changes every week) screen results are shown below;

Here’s the updated ‘pass list’ using the “Preferred Securities (modified)” “Expert Screen”; ari/pa clny/pa clny/pb clny/pc glog/pa rso/pb

Here’s the updated ‘pass list’ using the “#HYHRDPreferred” screen; ari/pa chsp/pa clny/pa clny/pb clny/pc cube/pa gaino sho/pd

* – preferred stock symbols are not included in the subject of the post, but I have included the underlying stock symbol
* – preferred stock symbols vary depending on your platform

Preferred Activity List Update

  • Purchases (using *only* LIMIT orders!)
    • On 3/4/16, I bought 150 shares of APOLLO COML REAL ESTATE FIN INC 8.625% shares (ARIPRA).
    • On 3/7/16, I bought 122 shares of COLONY CAP INC CONV PFD-C shares (CLNYPRC).
    • On 3/14/16, I bought 150 shares of APOLLO COML REAL ESTATE FIN INC 8.625% shares (ARIPRA).
    • On 3/14/16, I bought 478 shares of COLONY CAP INC CONV PFD-C shares (CLNYPRC).
    • On 3/14/16, I bought 60 shares of RESOURCE CAP CORP 8.25% 12/31/2049 PFD shares (RSOPRB).
    • On 3/15/16, I bought 150 shares of COLONY CAP INC CONV PFD-C shares (CLNYPRC).
    • On 3/15/16, I bought 50 shares of RESOURCE CAP CORP 8.25% 12/31/2049 PFD shares (RSOPRB).
  • Dividends (projected and/or received)
    • On 4/15/16, 300 shares of APOLLO COML REAL ESTATE FIN INC 8.625% shares (ARIPRA) paid $???.??.
    • On 4/15/16, 750 shares of COLONY CAP INC CONV PFD-C shares (CLNYPRC) paid $???.??.
    • On 5/2/16, ??? shares of RESOURCE CAP CORP 8.25% 12/31/2049 PFD shares (RSOPRB) paid $??.??.

About PandA Trader

I am, I think... "Disobedience, in the eyes of anyone who has read history, is man's original virtue. It is through disobedience and rebellion that progress has been made." -- Oscar Wilde
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