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In a turbulent market environment, Corporate Asset Backed Corp’s preferred stock (PFH) has reached a 52-week low, with shares falling to $17.39. Despite market challenges, the company maintains a solid dividend track record, having raised dividends for 16 consecutive years, according to InvestingPro data. This latest price level reflects a significant downturn from the stock’s performance over the past year, with PFH experiencing a 1-year change of -14.27%. With a market capitalization of $38.96 billion and a P/E ratio of 14.6, investors are closely monitoring the stock as it navigates through prevailing economic headwinds. The company’s Financial Health Score of FAIR from InvestingPro and impressive revenue growth of 30.43% over the last twelve months provide additional context for investors evaluating its current position. The market is now keenly awaiting the company’s next move and any potential signals of a rebound or further decline.
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