Compass Diversified's Series A 7.25% preferred (CODI-A) trades near $18.87, a 24.6% discount to its $25 par value, yielding 9.6%, while common shares have slid sharply, highlighting the split between the trust's equity and preferred markets.
Figures in this storyAs printed in the article published Oct 20, 2026. Prices, yields and ratios move after publication.
Figure
Value
Where the story states it
Current price
$18.87
“were changing hands near $18.87 as of October 19, 2026”
Par value
$25
“a level that sits roughly 24.6% below the stock's $25 liquidation preference”
Compass Diversified Holdings' Series A preferred shares, traded under the ticker CODI'A, were changing hands near $18.87 as of October 19, 2026, a level that sits roughly 24.6% below the stock's $25 liquidation preference. At that price, the 7.25% cumulative perpetual preferred carries a current yield of about 9.61%, even as the trust's common stock has slid sharply in recent trading, with CODI common last near $10.05, well off its 52-week high of $13.25.
The gap between a near-10% yield on the preferred and a steep decline in the common stock is the kind of divergence that first stood out in data tracked on Preferred Stock AI, a Madison Labs research site.
What that divergence reflects is a market that is pricing Compass Diversified's preferred and common securities very differently. CODI'A has been callable since July 30, 2022, meaning the trust could redeem the shares at the $25 par value at any time, yet it continues to trade well under that threshold. Because the preferred is cumulative, any dividend the trust skips must still be paid before common shareholders receive distributions, a structural protection that does not apply to the common stock. The trust declared its third-quarter 2026 distributions on the Series A, B and C preferred shares on October 1, 2026, according to a filing reported by Yahoo Finance, underscoring that the dividend stream on CODI'A has continued even as the shares trade at a discount.
For income-focused investors, the combination of a high current yield and a deep discount to par is
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Global Net Lease's 6.875% Series B preferred trades at a narrower discount to par than a broad peer average, a divergence that stands out as the REIT's common stock hovers near its 52-week low.