Dividend Vision Lists
Preferred Stocks
A curated list of preferred stocks — hybrid securities that sit between bonds and common equity, paying a fixed or floating dividend that ranks ahead of the common, issued by banks, REITs, mortgage REITs, and utilities.
Updated July 2026 · 28 companies
DV Scorecard
Our proprietary snapshot of this list — averages and standouts, computed from the companies below. Not investment advice.
Preferred stocks are a hybrid — part bond, part equity. Each one pays a set dividend, usually fixed (or fixed-then-floating), that must be paid before the company can pay its common shareholders, and it sits above the common in the capital structure if the company is ever wound up. In exchange for that priority, preferreds give up the unlimited upside of common stock, so they trade much more like a bond, and this page gathers a range of them in one place.
Most preferreds are issued by banks, insurers, real estate investment trusts (REITs), mortgage REITs, and utilities — businesses that raise capital cheaply this way. They typically pay quarterly (some monthly), often yield more than the same issuer's bonds, and many are callable, meaning the issuer can redeem them at a set price after a certain date. Because their price is driven largely by interest rates and the issuer's credit, they behave differently from the common stock you may already own.
Dividend Vision's angle is durability: whether the dividend is cumulative, how safe it looks given the issuer's health, and how the yields compare across the group through our Distribution Safety Score. Live figures refresh from our data pipeline on every build, and nothing here is investment advice.
Preferred Stocks
Live data joins from our pipeline on every build — click any header to sort, or open a ticker for the full analysis. We never hard-code yields, prices, or returns.
| Ticker | Company | Role | Yield | Div growth (1y) | Safety | Fwd P/E | Market cap |
|---|---|---|---|---|---|---|---|
| JPM-PC | JPMorgan Chase Dep Shs Rep 1/400th Series CC | Fixed Income | 5.92% | — | 100 | 0.0 | $333.2B |
| BAC-PK | Bank of America Dep Shs Rep 1/1000th 5.875% Non-Cum Preferred Series K | Fixed Income | 6.05% | — | 100 | 0.0 | $250.8B |
| BAC-PL | Bank of America Dep Shs Rep 1/1000th 5.375% Non-Cum Preferred Series L | Fixed Income | 5.69% | — | 100 | 0.0 | $241.3B |
| WFC-PL | Wells Fargo Dep Shs Rep 1/1000th Series L | Fixed Income | 6.33% | — | 100 | 0.0 | $187.8B |
| PFH | Prudential Financial 4.125% Junior Subordinated Notes due 2060 | Fixed Income | 6.39% | 0.0% | 98 | 0.0 | $45.5B |
| MET-PA | MetLife Depositary Shares Series A | Fixed Income | 6.20% | — | 96 | 0.0 | $40.8B |
| DLR-P-K | Digital Realty Trust 5.85% Ser K Cumulative Redeemable Preferred | Fixed Income | — | — | — | 0.0 | $23.8B |
| DLR-P-J | Digital Realty Trust 5.25% Ser J Cumulative Redeemable Preferred | Fixed Income | — | — | — | 0.0 | $21.8B |
| NLY-PG | Annaly Capital Management Series G Fixed-to-Floating Rate Cumulative Redeemable Preferred | Fixed Income | 8.37% | — | 100 | 0.0 | $13.6B |
| NLY-PF | Annaly Capital Management Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred | Fixed Income | 8.84% | — | 100 | 0.0 | $13.6B |
| VNO-P-L | Vornado Realty Trust 5.40% Series L Cumulative Redeemable Preferred | Fixed Income | — | — | — | 0.0 | $9.8B |
| AGNCN | AGNC Investment Corp 6.875% Series D Fixed-to-Floating Cumulative Redeemable Preferred | Fixed Income | 9.09% | -11.0% | 90 | 0.0 | $8.9B |
| AGNCM | AGNC Investment Corp 6.125% Series F Fixed-to-Floating Cumulative Redeemable Preferred | Fixed Income | 8.52% | -11.6% | 95 | 0.0 | $8.8B |
| AGNCP | AGNC Investment Corp. | — | 8.92% | -10.8% | 100 | 0.0 | $6.5B |
| TWO-PA | Two Harbors Investment Corp 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred | Fixed Income | 8.13% | — | 100 | 0.0 | $3.2B |
| STRD | Perpetual Stride Preferred Stock | Fixed Income | 16.24% | -25.2% | 24 | 0.0 | $902M |
| ADC-PA | Agree Realty Corporation 4.25% Series A Cumulative Redeemable Preferred Stock | Fixed Income | 6.20% | — | 100 | 0.0 | — |
| BEP-PA | Brookfield Renewable Partners L.P. 5.25% Class A Preferred Limited Partnership Units Series 17 | Fixed Income | 7.46% | — | 100 | 0.0 | — |
| BIP-PB | Brookfield Infrastructure Partners L.P. 5.00% Class A Preferred Limited Partnership Units Series 14 | Fixed Income | 7.63% | — | 100 | 0.0 | — |
| EPR-P-C | EPR Properties 5.75% Series C Cumulative Convertible Preferred | Fixed Income | — | — | — | 0.0 | — |
| JPM-PJ | JPMorgan Chase Dep Shs Rep 1/400th Series JJ | Fixed Income | 6.12% | — | 100 | 0.0 | — |
| LANDO | Gladstone Land Corporation 6.00% Series B Cumulative Redeemable Preferred Stock | Fixed Income | 7.11% | +4.3% | 96 | 0.0 | — |
| NEE-PN | NextEra Energy, Inc. Series N Equity Units | Fixed Income | — | — | — | 0.0 | — |
| PSA-P-G | Public Storage 4.875% Dep Shs Rep 1/1000th Pfd Ser G | Fixed Income | — | — | — | 0.0 | — |
| SATA | Strive, Inc. Variable Rate Series A Perpetual Preferred Stock | Fixed Income | 12.64% | -120.3% | 26 | 0.0 | — |
| STRC | Strategy Variable Rate Series A Perpetual Stretch Preferred Stock | Fixed Income | 9.92% | +21.4% | 60 | 0.0 | — |
| STRF | Perpetual Strife Preferred Stock | Fixed Income | 10.20% | — | 39 | 0.0 | — |
| STRK | Perpetual Strike Preferred Stock | Fixed Income | 12.73% | -2.5% | 35 | 0.0 | — |
Why this list matters
Preferreds offer bond-like income that ranks ahead of common equity, often at a higher yield than the issuer's bonds — but call risk, interest-rate sensitivity, and credit risk make them their own asset class.
Who it's for
- Income investors who want steady, bond-like payments that rank above the common
- Those seeking more yield than an issuer's bonds without moving all the way to common stock
- Investors building an income sleeve from banks, REITs, and utilities
- Holders comparing a preferred they own against peers on yield, credit, and call risk
Benefits
- Dividends rank ahead of common stock and are often higher-yielding than the issuer's bonds
- Many are cumulative, so skipped dividends accrue and must be repaid before the common
- Lower price volatility than common equity, with more predictable income
Risks
- Call risk — the issuer can redeem at par after the call date, capping upside on premium-priced shares
- Interest-rate sensitivity — prices fall when rates rise, especially on fixed-rate perpetuals
- Credit risk — a struggling issuer can suspend non-cumulative dividends with no obligation to repay
- Limited upside — preferreds rarely appreciate much above their call price
What to watch
- Whether the dividend is cumulative or non-cumulative — it changes what happens if the issuer skips a payment
- The call date and price, and whether the share trades above or below par
- Fixed-rate versus fixed-to-floating, which resets the coupon after the call date
- Issuer credit quality — start with the Distribution Safety Score and the parent's health
How we rank these investments
This page is a curated universe, not a ranked buy list — the table sorts on any column. These are the dimensions we surface and what each tells you.
- Dividend yield. The current dividend as a share of price. Preferred yields often exceed the same issuer's bonds; compare them against call risk and credit.
- Cumulative vs. non-cumulative. Cumulative preferreds must repay any skipped dividends before the common is paid; non-cumulative ones (common at banks) do not.
- Call risk. Most preferreds are callable at par after a set date. A share trading above par can be redeemed out from under a capital loss.
- Interest-rate sensitivity. Fixed-rate perpetuals move inversely to rates; fixed-to-floating structures reset their coupon and behave differently after the call date.
- Distribution Safety Score. Dividend Vision's proprietary read on how durable a payout looks, driven largely by the issuer's health.
- Issuer & sector. Banks, REITs, mortgage REITs, and utilities dominate the market, and each sector's preferreds carry a different risk profile.
- Payment frequency. Most preferreds pay quarterly; some pay monthly, which suits investors living on the income.
Frequently asked questions
What is a preferred stock?
A preferred stock is a hybrid security that pays a set dividend ranking ahead of common-stock dividends and sits above the common if the company is liquidated. In return for that priority it gives up most of the common's upside, so it trades more like a bond. This page tracks 28 preferred issues with live data.
How is a preferred different from a bond?
Both pay fixed income, but a bond is debt with a maturity date and a legal obligation to pay, while a preferred is equity that sits below bonds in the capital structure and can, in some cases, have its dividend suspended. Preferreds usually yield more than the same issuer's bonds to compensate for that lower rank.
How is a preferred different from common stock?
Preferred dividends are set and must be paid before any common dividend, and preferreds rank ahead of the common in a wind-up. But preferreds usually don't vote, rarely grow their dividend, and have limited price upside — you're buying income and priority, not growth.
What does cumulative vs. non-cumulative mean?
If a cumulative preferred's dividend is skipped, the missed payments accrue and must be paid in full before the common gets anything. A non-cumulative preferred (common among bank issues) has no such obligation — a skipped dividend is simply gone — which makes cumulative preferreds safer for income, all else equal.
What is call risk?
Most preferreds are callable: after a set date the issuer can redeem them, usually at their $25 par value. If you paid a premium above par, a call locks in a capital loss and ends the income. Checking the call date and whether a share trades above or below par is central to buying preferreds.
What is a fixed-to-floating preferred?
It pays a fixed dividend until its call date, then — if not called — switches to a floating rate tied to a benchmark plus a spread. That reset changes how the share behaves as interest rates move, and it's a common structure among bank and mortgage-REIT preferreds.
Are preferred dividends safe?
It depends on the issuer. A preferred from a well-capitalized bank or a solid REIT has historically paid reliably, while a struggling issuer can suspend a non-cumulative dividend with no obligation to repay it. The Distribution Safety Score on each ticker page is designed to help gauge durability. Nothing here is investment advice.
How are preferred dividends taxed?
Many preferred dividends qualify for the lower qualified-dividend tax rate, but some — notably many REIT and mortgage-REIT preferreds — are taxed as ordinary income, and a few are structured as bond-like securities that pay interest. Tax treatment depends on the issue and your situation — this is general information, not tax advice.
Why do so many preferreds come from banks and REITs?
Preferreds are an efficient way for those businesses to raise capital: banks use them to meet regulatory capital rules, and REITs and mortgage REITs use them to fund assets without diluting common holders or adding senior debt. That's why financials and real estate dominate the preferred market.
How often is this list updated?
The membership is curated, while yields, prices, and Safety Scores refresh from our data pipeline on every build. The figures reflect the most recent data run.
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