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Wells Fargo improves; Public Storage gains; Cedar Realty preferreds jump
By James McCandless
San Antonio, Oct. 5 – Opening up a new week, the preferred space ended Monday with positivity throughout the day.
At the top of the day’s secondary, Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferred stock improved.
Elsewhere in the finance space, Truist Financial Corp.’s 5.25% series O non-cumulative perpetual preferreds were under pressure.
Sector peer PNC Financial Services Group, Inc.’s 5.375% series Q non-cumulative perpetual preferred stock rose.
REIT Public Storage’s new 3.875% series N cumulative preferred shares gained ground by the end of the afternoon.
Cedar Realty Trust, Inc.’s 6.5% series C cumulative redeemable preferred stock jumped higher through the day.
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