AT&T preferreds push higher; Ally Financial positive; Public Storage gains

By James McCandless

San Antonio, Dec. 13 – The preferred space closed out the week with positive results with newer issues leading the way.

On top of the secondary again, AT&T Inc.’s recent 5% series A perpetual preferred stock pushed higher.

The preferreds, trading under the temporary symbol “ATATL,” were up 5 cents to close at $25.30 on volume of about 1.2 million shares.

Elsewhere, in finance, Ally Financial Inc.’s 8.125% series 2 fixed-to-floating rate trust preferred securities rose 12 cents to close at $26.05 with about 969,000 shares trading.

Sector peer SVB Financial Group’s 5.25% series A non-cumulative perpetual preferreds improved by 37 cents to close at $25.75 on volume of about 467,000 shares.

Capital One Financial Corp.’s 5% series I fixed-rate non-cumulative perpetual preferred stock shaved off 2 cents to close at $24.88 with about 339,000 shares trading.

Meanwhile, REIT Public Storage’s new 4.75% series K cumulative preferred shares gained 4 cents to close at $25.10 on volume of about 325,000 shares.

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