In trading on Wednesday, shares of PartnerRe Ltd.'s 7.25% Series E Cumulative Redeemable Preferred Shares (PRE.PRE) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.8125), with shares changing hands as low as $25.87 on the day. This compares to an average yield of 5.73% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, PRE.PRE was trading at a 4.04% premium to its liquidation preference amount, versus the average discount of 1.67% in the "Financial" category.
PartnerRe's Series E Preferred Shares Crosses Above 7% Yield Territory
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