Citigroup's Series J Preferred Shares: C.PR.J, 9.4% Yield From The Bank

Mario Tama Thesis Citi (C) reported earnings on January 12, 2024, that beat EPS estimates, but trailed revenue expectations. Citi is a mammoth organization spanning the globe, and while it took some impairment charges around its Russia and Argentina businesses, its Tier 1 capital ratio stands at a very healthy 13.3%: Q4 2023 Results (Citi) It seems that Armageddon is priced in the common shares, with the bank's tangible book value per share at $86.19 while its common shares are trading at $52/share. In this ...