Public Storage Announces Redemption of All Outstanding Depositary Shares Representing Interests in its 5.20% Cumulative Prefe...
20 August 2020 - 6:01AM
Business Wire
Public Storage (NYSE:PSA) announced today that it is calling for
redemption all outstanding depositary shares representing interests
in its 5.20% Cumulative Preferred Shares, Series W (NYSE:PSAPrW)
and 5.20% Cumulative Preferred Shares, Series X (NYSE:PSAPrX) on
September 30, 2020 at $25 per depositary share. The aggregate
redemption amount to be paid to all holders of the depositary
shares is $500,000,000 for the Series W and $225,000,000 for the
Series X for a total of $725,000,000.
Company Information
Public Storage, a member of the S&P 500 and FT Global 500,
is a REIT that primarily acquires, develops, owns and operates
self-storage facilities. At June 30, 2020, we had: (i) interests in
2,500 self-storage facilities located in 38 states with
approximately 171 million net rentable square feet in the United
States, (ii) an approximate 35% common equity interest in Shurgard
Self Storage SA (Euronext Brussels:SHUR) which owned 238
self-storage facilities located in seven Western European nations
with approximately 13 million net rentable square feet operated
under the “Shurgard” brand and (iii) an approximate 42% common
equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned
and operated approximately 28 million rentable square feet of
commercial space at June 30, 2020. Our headquarters are located in
Glendale, California.
Additional information about Public Storage is available on the
Company’s website at PublicStorage.com.
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Ryan Burke (818) 244-8080, Ext. 1141
Public Storage (NYSE:PSA)
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