Ru Back Packer

Quotes delayed 20 minutes

If the video does not load after a few moments, Upgrade to the Latest Flash Player.
Free Preferred Stock Newsletter
Gain access to weekly reports with featured preferred stock screens, new preferred stock offerings, and more.

Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 2:35 AM

Slide #404. PS Business Parks, Inc. Preferred Stock Offering

Company: PS Business Parks, Inc. (NYSE:PSB)
Underwriters: Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC
Security type: 5.75% Cumulative Preferred Stock, Series U (NYSE:PSB.PRU)
Shares Offered: 8,000,000
Date of Pricing: 9/5/2012
Price Per Share: $25
Preferred Stock Offering Details: PS Business Parks, Inc announced that it has priced a public offering of 8.0 million depositary shares, each representing 1/1,000 of a share of the Company's 5.75% Cumulative Preferred Stock, Series U at $25.00 per share. The Company also granted the underwriters an over-allotment option to purchase an additional 1.2 million depositary shares. The offering is expected to result in $200 million of gross proceeds (assuming no exercise of the underwriters' over-allotment option) and is expected to close on or about September 14, 2012. The Company intends to apply to have the depositary shares listed on the New York Stock Exchange under the symbol "PSBPrU." If this application is approved, trading of the depositary shares is expected to begin within 30 days following the initial delivery of the depositary shares.

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.


Open the PSB Page at Ru Back Packer »
Open the PSB.PRU Page at Ru Back Packer for More Information About this Preferred »

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

Top Ten Highest Yielding Preferred Stocks
Feel-Good Income: Socially Responsible Preferreds
Dividend Channel's 25 S.A.F.E. Dividend Stocks
Increasing Payments For Decades

Safer than S.A.F.E: Preferreds of Dividend Channel's
S.A.F.E. Dividend Stocks

Recent Preferred Stock Offerings
Preferred Stocks of Dow Components
Preferred Stocks of S&P 500 Components
Preferred Stocks By Industry
Preferred Stocks Where Insiders Are Buying The Common
High Yield Preferred Stocks
Preferreds Trading At Premiums To Liquidation Preference
Preferreds Trading At Discounts To Liquidation Preference

The Top 10 DividendRank'ed Canadian Stocks
Top 25 Broker Analyst Picks of the S&P 500

Preferred Stock Offerings - Slide 404 of 414 | | Copyright © 2011 - 2018, All Rights Reserved