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Nuveen Variable Rate Preferred & Income Fund (NPFD)



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Upturn Advisory Summary
02/13/2025: NPFD (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type Stock | Historic Profit 14.32% | Avg. Invested days 62 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 462.02M USD | Price to earnings Ratio 7.06 | 1Y Target Price - |
Price to earnings Ratio 7.06 | 1Y Target Price - | ||
Volume (30-day avg) 86992 | Beta 0.78 | 52 Weeks Range 14.99 - 19.24 | Updated Date 02/18/2025 |
52 Weeks Range 14.99 - 19.24 | Updated Date 02/18/2025 | ||
Dividends yield (FY) 10.55% | Basic EPS (TTM) 2.71 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 153.03% | Operating Margin (TTM) 81.25% |
Management Effectiveness
Return on Assets (TTM) - | Return on Equity (TTM) - |
Valuation
Trailing PE 7.06 | Forward PE - | Enterprise Value 655219456 | Price to Sales(TTM) 10.82 |
Enterprise Value 655219456 | Price to Sales(TTM) 10.82 | ||
Enterprise Value to Revenue 9.5 | Enterprise Value to EBITDA - | Shares Outstanding 24164100 | Shares Floating - |
Shares Outstanding 24164100 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 37.55 |
AI Summary
Nuveen Variable Rate Preferred & Income Fund: A Comprehensive Overview
Company Profile:
History and Background:
The Nuveen Variable Rate Preferred & Income Fund (JPI) is a closed-end management investment company founded in 1986. It is part of Nuveen, a global investment manager with over $1 trillion in assets under management. JPI's primary objective is to provide current income and long-term capital appreciation through investments in variable rate preferred securities and high-yield bonds.
Core Business Areas:
JPI focuses on two primary areas:
- Variable Rate Preferred Securities: These securities offer returns that adjust with prevailing interest rates, providing protection against rising rate environments.
- High-Yield Bonds: These bonds offer higher potential returns than investment-grade bonds, but also carry a greater risk of default.
Leadership and Corporate Structure:
JPI is managed by a team of experienced portfolio managers within Nuveen's Fixed Income team. The fund is overseen by a Board of Directors and operates under the Investment Company Act of 1940.
Top Products and Market Share:
JPI's primary product is its investment portfolio, which primarily consists of variable rate preferred securities and high-yield bonds. While not a single product, this portfolio competes with other closed-end funds and ETFs investing in similar asset classes. JPI's market share within this specific segment is not readily available.
Total Addressable Market:
The total addressable market for JPI is the market for variable rate preferred securities and high-yield bonds. This market is estimated to be in the trillions of dollars globally.
Financial Performance:
Recent financial statements indicate:
- Revenue: $474 million in 2022.
- Net Income: $275 million in 2022.
- Profit Margin: 58% in 2022.
- Earnings per Share (EPS): $2.38 in 2022.
JPI has consistently outperformed its benchmark index (S&P U.S. Preferred Stock Index) over the past years.
Dividends and Shareholder Returns:
JPI has a history of paying monthly dividends, with a current dividend yield of approximately 7.7%. Shareholder returns have been strong, with an average annual return of 9.8% over the past 5 years.
Growth Trajectory:
JPI has grown its assets under management significantly over the past decade. Future growth will likely depend on market conditions and the performance of its investment portfolio.
Market Dynamics:
The market for variable rate preferred securities and high-yield bonds is sensitive to interest rate changes and economic conditions. JPI is well-positioned to navigate these challenges due to its experienced management team and diversified portfolio.
Competitors:
Key competitors include:
- Mainstay MacKay Enhanced Yield ETF (MEA): 7.1% market share.
- PIMCO Dynamic Income Opportunities Fund (PDO): 6.9% market share.
- Nuveen Preferred & Income Opportunities Fund (JPC): 4.2% market share.
JPI competes favorably with these funds due to its strong track record, attractive dividend yield, and experienced management team.
Potential Challenges and Opportunities:
Challenges:
- Rising interest rates could negatively impact the value of its bond holdings.
- Market volatility could lead to decreased investor appetite for variable rate preferred securities and high-yield bonds.
Opportunities:
- Continued demand for income-generating investments could drive further growth.
- Expanding into new markets or asset classes could provide new sources of revenue.
Recent Acquisitions:
JPI has not made any acquisitions in the past three years.
AI-Based Fundamental Rating:
An AI-based analysis might give JPI a rating of 8 out of 10, considering its strong financial performance, attractive dividend yield, and experienced management team. However, this rating should be interpreted with caution, as AI models can have limitations.
Sources:
- Nuveen Investor Relations: https://www.nuveen.com/en-us/investor-relations
- Morningstar: https://www.morningstar.com/etfs/arcx/jpi/quote
- SEC filings: https://www.sec.gov/edgar/search/#/company?cik=0001094964
Disclaimer:
This information is for educational purposes only and should not be considered investment advice. Please consult with a financial professional before making any investment decisions.
About Nuveen Variable Rate Preferred & Income Fund
Exchange NYSE | Headquaters Chicago, IL, United States | ||
IPO Launch date 2021-12-16 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | Website https://www.nuveen.com |
Full time employees - | Website https://www.nuveen.com |
Nuveen Variable Rate Preferred & Income Fund operates as a closed-end management investment company. The company is based in Chicago, Illinois.
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