Public Storage preferreds vary; Ally Financial better; Southern Co. $25-par notes rise

By James McCandless

San Antonio, Sept. 21 – While the common market started the week with a slide, the preferred space ended on mixed footing.

At the top of the secondary, REIT Public Storage’s 5.2% series W and 5.2% series X cumulative preferred shares varied, trending downward.

Elsewhere, in the finance space, Ally Financial, Inc.’s 8.125% series 2 fixed-to-floating rate trust preferred securities ended in a better position.

Sector peer Synchrony Financial’s 5.625% series A non-cumulative perpetual preferreds finished the afternoon with a loss.

Truist Financial Corp.’s 4.75% series R non-cumulative perpetual preferred stock was seen trailing.

Meanwhile, utilities provider Southern Co.’s 6.25% series 2015A junior subordinated notes made a modest rise.

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