LBS.PR.A vs FTN.PR.AWhy would someone buy the LBS pref, with a 5.5% yield, instead of the FTN pref with a 7.7% yield. They have the same DBRS rating, and similar asset coverage. FTN's dividend can be reset annually, so could be reduced next year, but has a 5.5% minimum.
What am I missing?
Thx