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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Sunday, January 28, 9:08 AM

Slide #399. Public Storage Preferred Stock Offering

Company: Public Storage (NYSE:PSA)
Underwriters: Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC
Shares Offered: 18,000,000
Date of Pricing: 9/11/2012
Price Per Share: $25
Preferred Stock Offering Details: Public Storage announced that the Company has priced a public offering of 18,000,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000 of a 5.375% Cumulative Preferred Share of Beneficial Interest, Series V. The offering is expected to result in $450 million of gross proceeds (assuming no exercise of the underwriters' overallotment option) and to close on or about September 20, 2012. The Company expects to use a portion of the net proceeds to redeem its outstanding 6.450% Cumulative Preferred Shares, Series F, and 6.450% Cumulative Preferred Shares, Series X, and for other general corporate purposes.

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.

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


Open the PSA Page at Ru Back Packer »

Name: Public Storage
Website: publicstorage.com
Sector: REITs
Number of ETFs Holding PSA: 97 (see which ones)
Total Market Value Held by ETFs: $5,501,424,656.1
Total Market Capitalization: $33,924,000,000
% of Market Cap. Held by ETFs: 16.22%

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

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