Allstate lifted; Goldman Sachs preferreds slide; Monmouth under water

By James McCandless

San Antonio, Sept. 3 – Heading into the second half of the week, the preferred market saw an overall negative push on Thursday.

As the day’s volume leader, Allstate Corp.’s 5.1% series H fixed-rate non-cumulative perpetual preferred shares were up 7 cents to close at $27.06 on volume of about 344,000 shares.

Meanwhile, in the finance space, Goldman Sachs Group, Inc. 5.5% series J fixed-to-floating rate perpetual non-cumulative preferreds shaved off 7 cents to close at $26.96 with about 326,000 shares trading.

Sector peer Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferred shares declined by 8 cents to close at $24.88 on volume of about 322,000 shares.

Ally Financial, Inc.’s 8.125% series 2 fixed-to-floating rate trust preferred securities gained 6 cents to close at $24.72 with about 269,000 shares trading.

Elsewhere, REIT Monmouth Real Estate Investment Corp.’s 6.125% series C cumulative redeemable preferreds shaved off 2 cents to close at $24.98 on volume of about 246,000 shares.

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