Preferred Stock Channel
Public Storage | 6.125% Cumulative Preferred Stock, Series A (PSA.PRA)

This preferred is marked as having been called.
Prospectus excerpt:  We are selling 4,000,000 depositary shares each representing 1/1,000 of a share of our 6.125% Cumulative Preferred Stock, Series A. 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 600,000 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 6.125% of the liquidation preference per year ($1.53125 per year per depositary share). We will pay distributions on the Preferred Stock quarterly, beginning on June 30, 2004 (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 March 31, 2009, except in order to preserve our status as a real estate investment trust. On and after March 31, 2009, we may, at our option, redeem the Preferred Stock by paying you $25.00 per depositary share, plus any accrued and unpaid distributions. The Preferred Stock has no stated maturity and is not subject to any sinking fund or mandatory redemption and is not convertible into any other securities.

Full Prospectus PDF », PSA Page »

Alternate symbology:PSA-A, PSA-PA, PSAprA
Call Date:3/31/2009 (Now Trading Post Call Date)
Shares Offered:4,000,000
Liquidation Preference:$25
Original Coupon:6.13%
Pay Period:Quarterly
Pay Dates:31-Mar, 30-Jun, 30-Sep, 31-Dec
CDx3 Compliance Rating: Learn PSA.PRA's Rating
Public Storage is a real estate investment trust. Co. acquires, develops, owns and operates self-storage facilities, which provide storage spaces for lease on a month-to-month basis, for personal and business use. Co. is an owner and operator of self-storage facilities in the U.S. in most primary markets and states. A wholly-owned, consolidated subsidiary of Co. reinsures such policies and thereby assumes various risk of losses under these policies and receives reinsurance premiums substantially equal to the premiums collected from its tenants, from the non-affiliated insurance company. In addition, Co. sells merchandise, primarily locks and cardboard boxes at its self-storage facilities.


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Name:  Public Storage
Sector:  REITs
Number of ETFs Holding PSA:  109 (see which ones)
Total Market Value Held by ETFs:  $7,978,493,573.81
Total Market Capitalization:  $51,604,000,000
% of Market Cap. Held by ETFs:  15.46%

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