Published Sat, 09 Feb 2019 15:15:00 -0500 on Seeking Alpha
Co-produced with Long Player and PendragonY for High Dividend Opportunities.
Following the market correction that we saw at the end of 2018 and the tax loss-selling, the vast majority of preferred stocks pulled back. While most fully recovered since, there are some pockets of opportunities that remain overlooked by investors. We have been publishing a series of articles on undervalued high-yield preferred stocks. In our most recent reports, we highlighted the preferred stocks of Landmark Infrastructure (LMRK), Compass Diversified Holdings (CODI), and the Enstar Group (ESGR). All were significantly undervalued at the time of our publication and yielding between 7% and 12%. To access the report on our most recent high dividend picks, click here.
In our report today, we will highlight two preferred stocks that have pulled back recently following the market correction that we saw at the end of 2018 and never recovered. These preferred stocks are:
Teekay Offshore Partners, 7.25% Series A Cumulative Redeemable Preferred Units (TOO.PA), or TOO-A. TOO-A continues to drift lower, and is currently trading around its 52-week low and yields 11.8%. Teekay Offshore Partners, 8.50% Series B Cumulative Redeemable Preferred Units (TOO.PB), or TOO-B. TOO-B is also close to its 52-week low and yields 11.7% We will explain why both preferred shares now offer a highly opportunistic entry point with an enormous upside potential of 30-40%.
About the Issuing Company
TOO-A is a preferred... Read more
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