Morning Commentary: Public Storage preferreds active; Digital Realty gains; KeyCorp up

By James McCandless

San Antonio, March 14 – The Thursday open in the preferred market saw modest positivity as the Wells Fargo Hybrid & Preferred Securities Financial index started up by 0.06%.

Leading the secondary, real estate investment trust Public Storage’s 5.6% series H cumulative preferred shares were slightly lower at the open.

The preferreds (NYSE: PSAPrH) edged down 1 cent to $25.24 on volume of about 67,000 shares trading.

Elsewhere in the REIT space, AGNC Investment Corp.’s 6.875% series D fixed-to-floating rate cumulative redeemable preferreds were on the rise.

The preferreds (Nasdaq: AGNCM) started higher by 3 cents to $24.94 with about 47,000 shares trading.

Digital Realty Trust, Inc.’s 5.85% cumulative redeemable preferred stock was also trending to the positive.

The preferreds, trading under the temporary symbol “DLRPO,” gained 2 cents to $24.92 on volume of about 43,000 shares.

Meanwhile, in the finance space, KeyCorp’s 5.65% series F fixed-rate perpetual non-cumulative preferreds followed an upward path.

The preferreds (NYSE: KEYPrJ) added 1 cent to $24.67 with about 53,000 shares trading.

Sector peer JPMorgan Chase & Co.’s 5.75% series DD non-cumulative preferred stock was relatively active but flat at the session’s start.

The preferreds (NYSE: JPMPrD) were level at $26.25 on volume of about 35,000 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.