Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sun, August 14, 9:03 PM
|This Slide: #179 of 582|
Slide #179. PS Business Parks, Inc. — Preferred Stock Offering
PS Business Parks, Inc. (NYSE:PSB)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
PS Business Parks, Inc. (NYSE:PSB) announced today that it has priced a public offering of 8,000,000 depositary shares, each representing 1/1,000th of a share of the Company's 5.20% Cumulative Preferred Stock, Series Y at $25.00 per share. The offering is expected to result in gross proceeds of $200 million and is expected to close on or about December 7, 2017, subject to the satisfaction of customary closing conditions.
PS Business Parks is a self-advised and self-managed real estate investment trust that owns, operates, acquires and develops commercial properties, primarily multi-tenant industrial, flex and office space. Substantially all of Co.'s assets are held, and its business is conducted, through PS Business Parks, L.P., a California limited partnership. Co. owns and operates commercial space, comprising business parks and buildings located in California, Texas, Virginia, Florida, Maryland and Washington. Co. owns flex space, representing industrial buildings that are configured with a combination of warehouse and office space and can be designed to fit a variety of use types.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com