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Security Details
- Coupon Rate
- 6.88%
- Liquidation Preference
- $25.00
- Call Price
- $25.00
- Call / Redemption Date
- 4/15/2015
- Maturity Date
- None
- Distribution Period
- Q
- Rate Type
- Fixed
- Annual Distribution
- 1.71875
- Distribution Dates
- 3/31, 6/30, 9/30 & 12/31
- Credit Ratings
- Moody's A3 · S&P BBB+ (12/23/2014)
- Tax-Advantaged Dividends
- No
Security Profile
Security has been called for April 15, 2015.
- CUSIP
- 74460D182
- Market Cap
- Small Cap · $140 Million
- IPO
- 4/7/2010 · $25.00/share
- Previous Symbol
- PSAXZ (changed 4/21/2010)
- Parent Company
- Public Storage, Inc. (PSA)
Business: Public Storage Inc., 6.875% Depositary Shares each representing 1/1000 of a share of 6.875% Cumulative Preferred Stock, Series O, liquidation preference $25 per share, redeemable at the issuer's option on or after 4/15/2015 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.875% ($1.71875) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date fixed by the board, not more than 45 days or less than 15 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: 3/12/2015 -- Public Storage (PSA) announced today that it is calling for redemption all outstanding depositary shares representing interests in its 6.875% Cumulative Preferred Shares, Series O (NYSE:PSAPrO) on April 15, 2015 at $25 per depositary share plus accrued dividends from April 1, 2015 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 $145,000,000.
Company Contact
- CEO
- Ronald L. Havner, Jr.
- CFO
- E. John Reyes
- Headquarters
- 701 Western Avenue, Glendale, CA 91201
- Phone
- 818-244-8080 · Toll-Free 800-447-8673
- Fax
- 818-553-2388
- Investor Relations
- Ryan Burke · 818-244-8080 · investor@publicstorage.com