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Quotes delayed 20 minutes
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Hold (2.00 out of 4)
3rd percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sunday, October 20, 5:07 AM
Slide #314. Public Storage — Preferred Stock Offering
| Company: |
Public Storage (NYSE:PSA) |
| Date announced: |
3/10/2014 |
| Shares Offered: |
9,000,000 |
| Date of Pricing: |
3/10/2014 |
| Price Per Share: |
$25 |
| Preferred Stock Offering Details: |
John Reyes, Senior Vice President and Chief Financial Officer of Public Storage (NYSE:PSA), announced that the Company has priced a public offering of 9,000,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000 of a 6.375% Cumulative Preferred Share of Beneficial Interest, Series Y. The offering is expected to result in $225 million of gross proceeds (assuming no exercise of the underwriters' overallotment option) and to close on or about March 17, 2014. The Company expects to use the net proceeds to repay a portion of the outstanding indebtedness under its term loan. |
Public Storage is a real estate investment trust. Co.'s business activities include: Self-storage Operations, which acquires, develops, owns and operates self-storage facilities that provide storage spaces for lease on a month-to-month basis, for personal and business use; Ancillary Operations, which reinsures policies against losses to goods stored by customers in Co.'s self-storage facilities and sells merchandise, mainly locks and cardboard boxes, at its self-storage facilities; and Investment in PS Business Parks Inc. (PSB), in which Co. has an equity interest in PSB that owns, operates, acquires and develops commercial properties, mainly multi-tenant flex, office, and industrial parks. Preferreds: PSA.PRS, PSA.PRA, PSA.PRD, PSA.PRF, PSA.PRO, PSA.PRX, PSA.PRZ, PSA.PRU, PSA.PRT, PSA.PRR, PSA.PRP, PSA.PRQ, PSA.PRV, PSA.PRW, PSA.PRY, PSA.PRB, PSA.PRC, PSA.PRE, PSA.PRG
 Open the PSA Page at Preferred Stock Channel »
| Name: |
Public Storage |
| Website: |
www.publicstorage.com |
| Sector: |
REITs |
| Number of ETFs Holding PSA: |
118 (see which ones) |
| Total Market Value Held by ETFs: |
$6,807,468,037.1 |
| Total Market Capitalization: |
$42,261,000,000 |
| % of Market Cap. Held by ETFs: |
16.11% |
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Open the PSA Page at Preferred Stock Channel (in a new window) »
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