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AT&T sinks; Capital One preferreds decline; MFA Financial slides
By James McCandless
San Antonio, Feb. 27 – The preferred space was pushed lower along with the common market on increasing coronavirus fears.
On top of secondary trading, telecom company AT&T, Inc.’s 4.75% series C perpetual preferred stock sank.
Meanwhile, in the finance space, Capital One Financial Corp.’s 4.8% series J fixed-rate non-cumulative perpetual preferred stock declined.
Sector peer Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferred stock followed the market trend.
Elsewhere, REIT MFA Financial, Inc.’s new 6.5% series C fixed-to-floating rate cumulative redeemable preferreds slid.
AGNC Investment Corp.’s 6.125% series F fixed-to-floating rate cumulative redeemable preferred stock also ended the session on weaker ground.
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