Public Storage Announces Pricing of 4.000% Cumulative Preferred Shares of Beneficial Interest, Series P
Public Storage (PSA)
Last public storage earnings: 4/30 04:00 pm
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US:NYSE Investor Relations:
investors.publicstorage.com/home/default.aspx
Company Research
Source: Business Wire
GLENDALE, Calif.--(BUSINESS WIRE)--Tom Boyle, Chief Financial Officer of Public Storage (NYSE:PSA, the “Company”), announced that the Company has priced a public offering of 21,000,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000 of a 4.000% Cumulative Preferred Share of Beneficial Interest, Series P (the “Series P Preferred Shares”). The offering is expected to result in $525 million of gross proceeds (assuming no exercise of the underwriters’ overallotment option) and to close on or about June 16, 2021, subject to the satisfaction of customary closing conditions.The Company expects to use the net proceeds for general corporate purposes, including the redemption of its 5.125% Cumulative Preferred Shares, Series C. The issuance reflects continuing execution of Public Storage’s strategy to lower the cost of its in-place capital. Since 2015, Public Storage has redeemed or called for redemption $4.6 billion of preferred equity, red
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PSA
Earnings
- 2/20/24 - Miss
PSA
Sec Filings
- 4/23/24 - Form 4
- 4/16/24 - Form 8-K
- 4/11/24 - Form 8-K
- PSA's page on the SEC website