Public Storage | 6.450% Cumulative Preferred Stock, Series X (PSA.PRX)

This preferred is marked as having been called.
Prospectus excerpt:  We are selling 4,400,000 depositary shares each representing 1/1,000 of a share of our 6.450% Cumulative Preferred Stock, Series X. The shares of Preferred Stock represented by the depositary shares will be deposited with EquiServe Trust Company, N. A., as depositary. As a holder of depositary shares, you will be entitled to all proportional rights, preferences and privileges of the Preferred Stock. We have granted the underwriters an option to purchase up to 660,000 additional depositary shares to cover over-allotments. The following is a summary of the Preferred Stock: We will pay cumulative distributions on the Preferred Stock, from the date of original issuance, at the rate of 6.450% of the liquidation preference per year ($1.6125 per year per depositary share). We will pay distributions on the Preferred Stock quarterly, beginning on December 31, 2003 (with the payment on that date being based pro rata on the number of days from the original issuance of the Preferred Stock). We are not allowed to redeem the Preferred Stock before November 13, 2008, except in order to preserve our status as a real estate investment trust. On and after November 13, 2008, we may, at our option, redeem the Preferred Stock by paying you $25.00 per depositary share, plus any accrued and unpaid distributions.

Full Prospectus PDF », PSA Page »

Alternate symbology:PSA-X, PSA-PX, PSAprX
Call Date:11/13/2008 (Now Trading Post Call Date)
Shares Offered:4,400,000
Liquidation Preference:$25
Original Coupon:6.45%
Pay Period:Quarterly
Pay Dates:31-Mar, 30-Jun, 30-Sep, 31-Dec
CDx3 Compliance Rating: Learn PSA.PRX's Rating
Public Storage is a real estate investment trust. Co.'s business activities include: Self-storage Operations, which acquires, develops, owns and operates self-storage facilities that provide storage spaces for lease on a month-to-month basis, for personal and business use; Ancillary Operations, which reinsures policies against losses to goods stored by customers in Co.'s self-storage facilities and sells merchandise, mainly locks and cardboard boxes, at its self-storage facilities; and Investment in PS Business Parks Inc. (PSB), in which Co. has an equity interest in PSB that owns, operates, acquires and develops commercial properties, mainly multi-tenant flex, office, and industrial parks.


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Public Storage
Number of ETFs Holding PSA: 
117 (see which ones)
Total Market Value Held by ETFs: 
Total Market Capitalization: 
% of Market Cap. Held by ETFs: 

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