The Nuveen Variable Rate Preferred & Income Fund (NPFD) is a closed-end fund tailored for institutional investors aiming to achieve significant current income through a diversified portfolio of variable-rate preferred and income-generating securities. Managed by the esteemed investment management firm Nuveen, the fund prioritizes high-quality assets and employs a disciplined investment strategy to enhance risk-adjusted returns. By focusing on income stability amidst shifting interest rate conditions, NPFD presents an attractive opportunity to engage with the preferred securities market while effectively navigating income-related challenges.
| Revenue (TTM) | $48.13M |
| Gross Profit (TTM) | $48.13M |
| EBITDA | — |
| Operating Margin | 83.30% |
| Return on Equity | 10.70% |
| Return on Assets | 3.22% |
| Revenue/Share (TTM) | $1.99 |
| Book Value | $20.26 |
| Price-to-Book | 0.92 |
| Price-to-Sales (TTM) | 9.34 |
| EV/Revenue | 11.92 |
| EV/EBITDA | — |
| Quarterly Earnings Growth (YoY) | 23.60% |
| Quarterly Revenue Growth (YoY) | 6.80% |
| Shares Outstanding | $24.16M |
| Float | 0 |
| % Insiders | 0.00% |
| % Institutions | 32.65% |
Volatility is currently contracting
Nuveen Variable Rate Preferred & Income Fund remains a hold as dividend coverage and NAV stability face headwinds from potential rate hikes. NPFD's 10% yield is unsustainable; a 30% dividend cut would better support NAV and long-term performance. The fund's shrinking discount to NAV and high leverage amplify downside risk in a deteriorating debt market.
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