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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Thu, December 2, 6:42 PM

Slide #498. PS Business Parks, Inc. Preferred Stock Offering

Company: PS Business Parks, Inc. (NYSE:PSB)
Date announced: 3/6/2013
Shares Offered: 4,000,000
Preferred Stock Offering Details: PS Business Parks, Inc. (NYSE:PSB) announced today that it has priced a public offering of 4.0 million depositary shares, each representing 1/1,000 of a share of the Company's 5.70% Cumulative Preferred Stock, Series V at $25.00 per share. The Company also granted the underwriters an over-allotment option to purchase an additional 600,000 depositary shares. The offering is expected to result in $100.0 million of gross proceeds (assuming no exercise of the underwriters' over-allotment option) and is expected to close on or about March 14, 2013.

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.

Preferreds: PSB.PRS, PSB.PRP, PSB.PRR, PSB.PRT, PSB.PRU, PSB.PRV, PSB.PRW, PSB.PRX, PSB.PRY, PSB.PRZ


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Name: 
PS Business Parks Inc
Website: 
www.psbusinessparks.com
Sector: 
REITs
Number of ETFs Holding PSB: 
72 (see which ones)
Total Market Value Held by ETFs: 
$799,098,467.2
Total Market Capitalization: 
$4,827,000,000
% of Market Cap. Held by ETFs: 
16.55%
 

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