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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 5:27 AM

Slide #252. Public Storage Preferred Stock Offering

Company: Public Storage (NYSE:PSA)
Date announced: 4/10/2014
Shares Offered: 2,000,000
Date of Pricing: 4/10/2014
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 an additional 2,000,000 depositary shares at $25.00 per depositary share plus accrued dividends from and including March 17, 2014, 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 close on April 10, 2014. Combined with the earlier sale of Series Y Preferred Shares announced on March 10, 2014, and the underwriters' exercise of the over-allotment option in connection with such earlier sale on March 31, 2014, the Company expects to sell a total of 11,400,000 depositary shares for gross proceeds of approximately $285 million.

Public Storage is a real estate investment trust. At Dec 31 2016, Co.'s business activities were: self-storage operations, whereby Co. acquires, develops, owns and operates self-storage facilities; ancillary operations, whereby Co. reinsures policies; Investment in Shurgard Europe, in which Co. had a 49.0% equity interest in Shurgard Self Storage Europe Ltd that owned self-storage facilities in Western Europe under Shugard brand name; and Investment in PSB, in which Co. had a 42.0% equity interest in PS Business Parks, Inc., which owns and operates commercial space. At Dec 31 2016, Co. had direct and indirect equity interests in 2,336 self-storage facilities in 38 states.


Open the PSA Page at Ru Back Packer »

Name: Public Storage
Sector: REITs
Number of ETFs Holding PSA: 98 (see which ones)
Total Market Value Held by ETFs: $5,512,957,333.1
Total Market Capitalization: $33,510,000,000
% of Market Cap. Held by ETFs: 16.45%

Open the PSA Page at Ru Back Packer (in a new window) »

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