Triton prices $25-par preferreds; Digirad announces potential offering; AIG improves

By James McCandless

San Antonio, March 12 – The preferred market ended Tuesday on a net positive as the primary space revved up.

Triton International Ltd. priced $75 million of $25-par series A cumulative redeemable perpetual preference shares with a dividend of 8.5%.

There is an $11.25 million greenshoe.

Digirad Corp. announced a potential offering of up to $15 million of $25-par nonconvertible preferred stock.

In the secondary, American International Group, Inc.’s new 5.85% series A non-cumulative perpetual preferred stock improved.

The preferreds, trading under the temporary symbol “AIGGZ,” were up 4 cents to close at $25.14 on volume of about 1.2 million shares.

Real estate investment trust Digital Realty Trust, Inc.’s 5.85% cumulative redeemable preferreds were active but level.

The preferreds, trading under the temporary symbol “DLRPO,” closed the session level at $24.83 with about 626,000 shares trading.

Sector peer Pennsylvania Real Estate Investment Trust’s 6.875% series D cumulative redeemable perpetual preferreds saw a boost.

The preferreds (NYSE: PEIPrD) shot up 82 cents to close at $20.32 on volume of about 323,000 shares.

Meanwhile, in finance, KeyCorp’s 5.65% series F fixed-rate perpetual non-cumulative preferred stock ended slightly better.

The preferreds (NYSE: KEYPrJ) were up 1 cent to close at $24.59 with about 488,000 shares trading.

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