Public Storage rises; First Midwest under par; Athene preferreds move up

By James McCandless

San Antonio, June 18 – The preferred market saw modest gains on Thursday as top traders were mixed by the end of the day.

On top of secondary trading, REIT Public Storage’s recent 4.625% series L cumulative preferred shares were up 24 cents to close at $24.84 on volume of about 592,000 shares.

were up 24 cents to close at $24.84 on volume of about 592,000 shares.

Sector peer Ashford Hospitality Trust, Inc.’s 7.375% series G cumulative preferreds dropped 69 cents to close at $9.74 with about 286,000 shares trading.

Meanwhile, in the finance space, First Midwest Bancorp, Inc.’s new $110 million 7% series C non-cumulative perpetual preferred stock landed under par, closing at $24.78 on volume of about 590,000 shares.

JPMorgan Chase & Co.’s 4.75% series GG non-cumulative preferred stock gained 7 cents to close at $25.09 with about 232,000 shares trading.

Retirement services name Athene Holding Ltd.’s 6.375% series C fixed-rate reset perpetual non-cumulative preference shares moved up5 cents to close at $25.12 on volume of about 386,000 shares.

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