Morning Commentary: Preferred market mostly quiet; Ashford Hospitality paper active, improves

By Cristal Cody

Tupelo, Miss., Aug. 31 – The preferred stock market is expected to remain quiet on Thursday and Friday going into the long holiday weekend.

“Nothing until after Labor Day,” a source said at the start of the session.

Preferreds continue to have a mostly positive tone.

The U.S. iShares Preferred Stock ETF (Nasdaq: PFF) was up 4 cents, or 0.10%, at $38.94 over the morning.

Hospitality Trust Inc.’s 7.5% series H cumulative redeemable preferred shares climbed 8 cents, or 0.33%, to $24.93 in mid-morning trading.

The $85 million deal priced on Aug. 16 and listed on the New York Stock Exchange on Tuesday under the ticker symbol, “AHTPrH.”

© 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.