No new issues come as week winds down; Goodrich offered but gets no bids; Zions paper active

By Stephanie N. Rotondo

Phoenix, April 5 - A preferred stock trader said Friday's session was a quiet one.

"The Treasuries rallied with the bad jobs numbers, but that didn't really affect our market all that much," he said.

Additionally, no new issues were announced Friday morning, and the trader said he was "not hearing anything new for next week."

As has been the trend for most of the week, a market source said preferred stocks ended the session little changed overall.

From Thursday business, Goodrich Petroleum Corp.'s 10% series C cumulative preferreds were seen at less 23 cents offered but with no bids, according to a trader.

"Nobody is playing in it," he said.

NorthStar Realty Finance Corp.'s 8.5% series D cumulative redeemable preferreds - a deal that priced Wednesday - were meantime pegged at $24.95.

Though a market source had said that the issue freed up by late Thursday, a trader said at midday on Friday that he did not think the securities were free to trade just yet.

Among other issues from the week, Digital Realty Trust Inc.'s 5.875% series G cumulative redeemable preferreds were seen trading at $24.80.

That issue came on Tuesday.

Zions securities get busy

Zions Bancorporation's 9.5% series C noncumulative perpetual preferreds (NYSE: ZBPC) were on the active side on Friday, ending down a penny at $25.80.

Earlier in the week, the Salt Lake City-based bank announced a redemption of all $285 million of its 8% series B noncumulative preferreds. The call was part of the company's larger capital plan, which was in part approved by the Federal Reserve last month. The Fed gave the green light for the redemption of certain preferred securities, including the series Cs. However, a market source noted that the Cs would not be callable until September.

The Bs (NYSE: ZBPB) ended the day up a penny at $25.33.

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