National Storage Affiliates Trust | 6.000% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest (NSA.PRA)
Prospectus excerpt: We are offering 6,000,000 6.000% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest, par value $0.01 per share, which we refer to in this prospectus supplement as the series A preferred shares. We will pay cumulative dividends on the series A preferred shares from the date of original issue at a rate of 6.000% per annum of the $25.00 liquidation preference per share (equivalent to an annual rate of $1.50 per share). Dividends on the series A preferred shares will be payable quarterly in arrears on or about the last day of March, June, September and December of each year, beginning December 31, 2017. The series A preferred shares will rank senior to our common shares of beneficial interest, par value $0.01 per share, or our common shares, with respect to dividend rights and rights upon our liquidation, dissolution or winding up.
National Storage Affiliates Trust is a self-administered and self-managed real estate investment trust focused on the self storage sector. Co. serves as the sole general partner of its operating partnership subsidiary, NSA OP, LP (Co.'s operating partnership), to conduct its business, which is focused on the ownership, operation, and acquisition of self storage properties located within metropolitan statistical areas throughout the U.S. Co. also owns certain of its self storage properties through other consolidated limited partnership subsidiaries of its operating partnership.