Truist under pressure; Public Storage preferreds gain; AT&T loses

By James McCandless

San Antonio, Aug. 31 – At the end of the Monday preferred session, top traders moved in different directions.

Leading the secondary activity, Truist Financial Corp.’s 4.75% series R non-cumulative perpetual preferred stock was under pressure.

Elsewhere in the finance space, WesBanco, Inc.’s 6.75% series A fixed-rate reset non-cumulative perpetual preferred stock was deflated.

Sector peer Capital One Financial Corp.’s 4.8% series J fixed-rate non-cumulative perpetual preferred stock pushed upward.

REIT Public Storage’s 4.125% series M and 4.625% series L cumulative preferred shares gained by the end of the afternoon.

Meanwhile, telecom giant AT&T, Inc.’s 4.75% series C perpetual preferred stock lost ground to close the session.

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