Key Developments: Public Storage (PSA.N)

PSA.N on New York Stock Exchange

161.28USD
1 Aug 2013
Price Change (% chg)

$2.06 (+1.29%)
Prev Close
$159.22
Open
$159.83
Day's High
$161.95
Day's Low
$159.26
Volume
238,059
Avg. Vol
233,201
52-wk High
$168.66
52-wk Low
$135.64

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Latest Key Developments (Source: Significant Developments)

Public Storage Declares Quarterly Dividend
Thursday, 1 Aug 2013 05:05pm EDT 

Public Storage announced that the Board of Trustees declared a regular common quarterly dividend of $1.25 per common share. All the dividends are payable on September 30, 2013 to shareholders of record as of September 13, 2013.  Full Article

Public Storage Declares Quarterly Dividend
Thursday, 9 May 2013 05:15pm EDT 

Public Storage Board of Trustees declared a regular common quarterly dividend of $1.25 per common share. The Board also declared dividends with respect to various series of preferred shares. All the dividends are payable on June 27, 2013 to shareholders of record as of June 12, 2013.  Full Article

Public Storage Announces Pricing of 5.20% Cumulative Preferred Shares of Beneficial Interest, Series X
Monday, 4 Mar 2013 05:15pm EST 

Public Storage announced that the Company has priced a public offering of 8,000,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000 of a 5.20% Cumulative Preferred Share of Beneficial Interest, Series X. The offering is expected to result in $200 million of gross proceeds (assuming no exercise of the underwriters` overallotment option) and to close on or about March 13, 2013. The Company expects to use the net proceeds for general corporate purposes, which may include acquisition and development of self-storage facilities and investment in entities that own self-storage facilities. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC acted as joint book-running managers of the offering.  Full Article

Public Storage Declares Quarterly Dividend
Thursday, 21 Feb 2013 05:14pm EST 

Public Storage announced that the Board of Trustees declared a regular common quarterly dividend of $1.25 per common share which is an increase of $0.15 per share, or 14% over the previous quarter's distribution. The Board also declared dividends with respect to various series of preferred shares. All the dividends are payable on March 28, 2013 to shareholders of record as of March 13, 2013.  Full Article

Public Storage Announces Pricing of 5.20% Cumulative Preferred Shares of Beneficial Interest, Series W
Monday, 7 Jan 2013 08:01pm EST 

Public Storage announced that it has priced a public offering of 18,000,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000 of a 5.20% Cumulative Preferred Share of Beneficial Interest, Series W. The offering is expected to result in $450 million of gross proceeds (assuming no exercise of the underwriters` overallotment option) and to close on or about January 16, 2013. The Company expects to use a portion of the net proceeds to repay all the outstanding indebtedness under its revolving credit facility. The Company also expects to use any additional net proceeds for general corporate purposes, which may include investments in self-storage facilities and in entities that own self-storage facilities. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC acted as joint book-running managers of the offering.  Full Article

Public Storage Declares Dividend
Thursday, 8 Nov 2012 05:47pm EST 

Public Storage announced that its Board of Trustees declared a regular common quarterly dividend of $1.10 per common share. The Board also declared dividends with respect to various series of preferred shares. All the dividends are payable on December 27, 2012 to shareholders of record as of December 12, 2012.  Full Article

Public Storage Announces Pricing of 5.375% Cumulative Preferred Shares of Beneficial Interest, Series V
Tuesday, 11 Sep 2012 10:40pm EDT 

Public Storage announced that it has priced a public offering of 18,000,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000 of a 5.375% Cumulative Preferred Share of Beneficial Interest, Series V. The offering is expected to result in $450 million of gross proceeds (assuming no exercise of the underwriters’ overallotment option) and to close on or about September 20, 2012. The Company expects to use a portion of the net proceeds to redeem its outstanding 6.450% Cumulative Preferred Shares, Series F, and 6.450% Cumulative Preferred Shares, Series X, and for other general corporate purposes. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC acted as joint book-running managers of the offering  Full Article

Public Storage Declares Dividend
Thursday, 2 Aug 2012 05:08pm EDT 

Public Storage announced that it declared a regular common quarterly dividend of $1.10 per common share. The Board also declared dividends with respect to various series of preferred shares. All the dividends are payable on September 27, 2012 to shareholders of record as of September 12, 2012.  Full Article

Public Storage Announces Pricing of 5.625% Cumulative Preferred Shares of Beneficial Interest, Series U
Wednesday, 6 Jun 2012 07:04pm EDT 

Public Storage announced that it has priced a public offering of 10,000,000 depositary shares at $25.00 per depositary share, with each depositary share representing 1/1,000 of a 5.625% Cumulative Preferred Share of Beneficial Interest, Series U. The offering is expected to result in $250 million of gross proceeds (assuming no exercise of the underwriters’ overallotment option) and to close on or about June 15, 2012. The Company expects to use a portion of the net proceeds to redeem its 7.0% Cumulative Preferred Shares, Series N, and for other general corporate purposes. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC acted as joint book-running managers for the offering.  Full Article

Public Storage Declares Dividend
Thursday, 3 May 2012 05:13pm EDT 

Public Storage announced that the Board of Trustees declared a regular common quarterly dividend of $1.10 per common share. The Board also declared dividends with respect to the various series of preferred shares. All the dividends are payable on June 28, 2012 to shareholders of record as of June 13, 2012.  Full Article

Fitch Upgrades Public Storage's IDR to 'A+'; Outlook Stable

(The following statement was released by the rating agency) NEW YORK, March 19 (Fitch) Fitch Ratings has upgraded the credit ratings of Public Storage (PSA) as follows: --Issuer Default Rating (IDR) to 'A+' from 'A'; --$300 million unsecured revolving line of credit to 'A+' from 'A'; --$3.4 billion preferred stock to 'A' from 'A-'. Fitch withdrew the IDR and senior unsecured notes ratings for Shurgard Storage Centers, LLC. Shurgard Storage Centers, LLC bonds have matured and the IDR for Shur

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