Vornado preferreds above par; Southern California Edison lower; Wells Fargo slips

By James McCandless

San Antonio, Nov. 20 – Finishing off the week, the preferred space saw general weakness all the way to the close.

At the top of the Friday secondary, REIT Vornado Realty Trust’s new $300 million 5.25% series N cumulative redeemable preferred shares were seen closing at $25.10 on volume of about 3.4 million shares.

Sector peer National Retail Properties, Inc.’s 5.2% series F cumulative redeemable preferreds dropped 10 cents to close at $25.99 with about 248,000 shares trading.

Meanwhile, utilities provider Southern California Edison Co.’s 5% shaved off 10 cents to close at $23.42 on volume of about 341,000 shares.

In the finance space, Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferreds lost 4 cents to close at $25.75 with about 267,000 shares trading.

Also, U.S. Bancorp’s 3.75% series L non-cumulative perpetual preferreds declined by 12 cents to close at $24.56 on volume of about 219,000 shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.