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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 9:51 AM

Slide #11. PS Business Parks, Inc. Preferred Stock Offering

Company: PS Business Parks, Inc. (NYSE:PSB)
Date announced: 11/30/2017
Shares Offered: 8,000,000
Date of Pricing: 11/30/2017
Price Per Share: $25.00
Preferred Stock Offering Details: PS Business Parks, Inc. (NYSE:PSB) announced today that it has priced a public offering of 8,000,000 depositary shares, each representing 1/1,000th of a share of the Company's 5.20% Cumulative Preferred Stock, Series Y at $25.00 per share. The offering is expected to result in gross proceeds of $200 million and is expected to close on or about December 7, 2017, subject to the satisfaction of customary closing conditions.

PS Business Parks is a real estate investment trust that owns, operates, acquires and develops commercial properties, primarily multi-tenant flex, office and industrial space. Co.'s commercial properties typically consist of business parks with low-rise buildings, ranging from one to 49 buildings per park, located on parcels of various sizes. Facilities are managed through either on-site management or offices central to the facilities. As of Dec 31 2016, Co. owned and operated commercial space comprising 99 business parks, in the following states: California, Texas, Virginia, Florida, Maryland and Washington. Co. also manages commercial space on behalf of Public Storage.


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Name: PS Business Parks Inc
Sector: REITs
Number of ETFs Holding PSB: 54 (see which ones)
Total Market Value Held by ETFs: $694,082,742

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