Preferred Stock Channel
PS Business Parks Inc | 6.875% Cumulative Preferred Stock, Series R (PSB.PRR)

This preferred is marked as having been called.
Prospectus excerpt:  We are selling 3,000,000 Depositary Shares each representing 1/1,000 of a share of our 6.875% Cumulative Preferred Stock, Series R. The shares of Preferred Stock represented by the Depositary Shares will be deposited with American Stock Transfer & Trust Company as depositary. As a holder of Depositary Shares, you will be entitled to all proportional rights, preferences and privileges of the Preferred Stock. We have granted the underwriters an option to purchase up to 450,000 additional Depositary Shares to cover over allotments. The following is a summary of the Preferred Stock: We will pay cumulative distributions on the Preferred Stock, from the date of original issuance, at the rate of 6.875% of the liquidation preference per year ($1.71875 per year per Depositary Share). We will pay distributions on the Preferred Stock quarterly, beginning on December 31, 2010 (with the payment on that date being based pro rata on the number of days from the original issuance of the Preferred Stock). We are not allowed to redeem the Preferred Stock before October 15, 2015, except in order to preserve our status as a real estate investment trust. On and after October 15, 2015, we may, at our option, redeem the Preferred Stock by paying you $25.00 per Depositary Share, plus any accrued and unpaid distributions. The Preferred Stock has no stated maturity and is not subject to any sinking fund or mandatory redemption and is not convertible into any other securities.

Full Prospectus PDF », PSB Page »

Series:R
Alternate symbology:PSB-R, PSB-PR, PSBprR
Redeemable?:Yes
Call Date:10/15/2015 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:3,000,000
Overallotment:450,000
Liquidation Preference:$25
Original Coupon:6.88%
Pay Period:Quarterly
Pay Dates:31-Mar, 30-Jun, 30-Sep, 31-Dec
PS Business Parks is a self-advised and self-managed real estate investment trust that owns, operates, acquires and develops commercial properties, primarily multi-tenant industrial, flex and office space. Substantially all of Co.'s assets are held, and its business conducted, through PS Business Parks, L.P. Co. owns and operates commercial space, comprising business parks, in California, Texas, Virginia, Florida, Maryland and Washington. Co. owns flex space, representing industrial buildings that are configured with a combination of warehouse and office space and can be designed to fit a variety of uses.

Preferreds: PSB.PRS, PSB.PRP, PSB.PRR, PSB.PRT, PSB.PRU, PSB.PRV, PSB.PRW, PSB.PRX, PSB.PRY, PSB.PRZ


Open the PSB Information Page »
Name:  PS Business Parks Inc
Website:  www.psbusinessparks.com
Sector:  REITs
Number of ETFs Holding PSB:  62 (see which ones)
Total Market Value Held by ETFs:  $793,662,312
Total Market Capitalization:  $3,791,000,000
% of Market Cap. Held by ETFs:  20.94%

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