Nuveen Variable Rate Preferred & Income Fund Common Shares (NPFD)

FairStock Score: 63/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at NPFD as a closed-end fund, not an operating company, so the usual moat test is difficult. Nuveen's brand and investment process may help source variable-rate preferred and income securities, but common shareholders have little control over the manager or the fund's leverage. As of the 2026-10-13 close, the shares trade at $17.80. FairStock calculates a P/E of 8.28, P/B of 0.88, ROE of 10.73%, ROCE of 3.22%, and D/E of 0.56. The 10.56% dividend yield is eye-catching, and beta of 0.73 suggests the shares have historically moved less than the market. The Graham Number of $31.31 and 43.15% margin of safety imply the price is well below a rough asset-based value, but for a levered fund that calculation must be treated with caution. Financial health is the weak spot: Piotroski F-Score is 2/9, Altman Z-Score is 0.84, and ROCE of 3.22% is thin. Those numbers do not describe a fortress. Growth history is not given; the Lynch category is none because only 0 years of filed results are available, and the FairStock Score is 63/100. My conclusion: the discount and yield are attractive only if credit conditions stay benign and the distribution is covered. Otherwise, leverage and weak quality scores could turn the apparent cheapness into a value trap.

In plain English: Nuveen Variable Rate Preferred & Income Fund is a closed-end fund managed by Nuveen; it invests in variable-rate preferred securities and other income-producing assets. The fund shows mixed financial health: it pays a high dividend and trades below its stated asset value, but some accounting checks suggest it carries more risk. At $17.80, the price looks cheaper than its assets on paper, but only if the high payouts hold up.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer