In a remarkable display of resilience, Nuveen Variable Rate Preferred (NPFD) stock has soared to a 52-week high, reaching a price level of $19.22. This milestone underscores a period of significant growth for the company, with the stock witnessing an impressive 1-year change of 24.66%. Investors have shown increased confidence in NPFD, rallying behind the stock as it outperforms expectations and sets a new benchmark for its yearly performance. The surge to a 52-week high is a testament to the company's robust financial health and the positive sentiment that surrounds its future prospects in the market.
InvestingPro Insights
Nuveen Variable Rate Preferred (NPFD) continues to impress investors with its strong performance. According to InvestingPro data, the stock is trading at a P/E ratio of 7.08, suggesting it may be undervalued relative to its earnings. This attractive valuation is complemented by a substantial dividend yield of 10.48%, making NPFD an appealing option for income-focused investors.
InvestingPro Tips highlight that NPFD "pays a significant dividend to shareholders" and is "profitable over the last twelve months," which aligns with the stock's recent surge to its 52-week high. The company's financial strength is further evidenced by its impressive gross profit margin of 100% for the last twelve months as of Q4 2024.
It's worth noting that NPFD is currently trading at 99.79% of its 52-week high, confirming the article's observation of the stock's remarkable performance. The YTD price total return of 27.66% further illustrates the stock's strong momentum in 2024.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights that could provide a deeper understanding of NPFD's market position and future potential.
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