Public Storage : Announces Redemption of All Outstanding Depositary Shares Representing Interests in its 6.500% Cumulative Preferred Shares, Series W
06/29/2012| 04:10pm US/Eastern
Public Storage (NYSE:PSA) announced today that it is calling for
redemption all outstanding depositary shares representing interests in
its 6.500% Cumulative Preferred Shares, Series W (NYSE:PSAPrW) on August
6, 2012 at $25 per depositary share plus accrued dividends from July 1,
2012 through the date of redemption. The aggregate redemption amount,
before payment of accrued dividends, to be paid to all holders of the
depositary shares is $132,500,000.
Public Storage, a member of the S&P 500 and FT Global 500, is a fully
integrated, self-administered and self-managed real estate investment
trust that primarily acquires, develops, owns and operates self-storage
facilities. The Company's headquarters are located in Glendale,
California. At March 31, 2012, the Company had interests in 2,064
self-storage facilities located in 38 states with approximately 131
million net rentable square feet in the United States and 189 storage
facilities located in seven Western European nations with approximately
ten million net rentable square feet operated under the "Shurgard"
brand. The Company also owns a 42% common equity interest in PS Business
Parks, Inc. (NYSE:PSB) which owned and operated approximately 27.2
million rentable square feet of commercial space, primarily flex,
multi-tenant office and industrial space, at March 31, 2012.
Additional information about Public Storage is available on the
Internet. The Company's web site is www.publicstorage.com.
Clemente Teng, (818) 244-8080, Ext. 1141
© Business Wire 2012