TRTN 7 ⅜ PERP & TRTN 6 ⅞ PERP Pfd

Triton International Ltd

Finance/Real Estate


Presented:04/29/2020
Price:N/A
Cap:N/A
Current Price:$25.23
Cap:N/A

Presented

Date04/29/2020
PriceN/A
Market CapN/A
Ent ValueN/A
P/E RatioN/A
Book ValueN/A
Div Yield0%
Shares O/SN/A
Ave Daily VolN/A
Short IntN/A

Current

Price$25.23
Market CapN/A

Publicly traded companies mentioned herein: Annaly Capital Management (NLY), Capital One Financial Corp (COF), JPMorgan Chase & Co (JPM), Synchrony Financial (SYF), Triton International Ltd (TRTN), Two Harbors Investment Corp (TWO) 

Highlights

The presenter’s book is weighted toward credit, and one area of interest given recent dislocations seen in the market is with preferred stock. While he’s not sure that investors are sufficiently compensated for the risk with high yield or equities given the recent rally, many of the $25 par prefs have sold-off, which he sees as an opportunity when considering the capital structures of the companies. Institutions have been buying selectively, so some of the gaps have closed quickly (e.g., Capital One’s COFGs); On this theme the presenter is long Triton International’s (TRTN) 7 ⅜ and 6 ⅞ prefs, both trading $4-5 below par ($25) as of 4/29, among others.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Request access to DeMatteo Research for full access

Request Access

Already have an account?

Idea Discussion

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Idea Discussions display submitted commentary from our investor community.

To read and participate in the discussion with the presenter and investor base, request access to DeMatteo

Request Access

Already have an account?

An error occurred loading this content. Try again later or contact us.