Public Storage Announces Redemption of All Outstanding Depositary Shares Representing Interests in its 5.625% Cumulative Preferred Shares, Series U

Company Release - 9/11/2019 4:06 PM ET

GLENDALE, Calif.--(BUSINESS WIRE)-- Public Storage (NYSE:PSA) announced today that it is calling for redemption all outstanding depositary shares representing interests in its 5.625% Cumulative Preferred Shares, Series U (NYSE:PSAPrU) on October 14, 2019 at $25 per depositary share plus accrued dividends from October 1, 2019 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 $287,500,000.

Company Information

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At June 30, 2019, we had: (i) interests in 2,456 self-storage facilities located in 38 states with approximately 166 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at June 30, 2019. Our headquarters are located in Glendale, California.

Ryan Burke
(818) 244-8080, Ext. 1141

Source: Public Storage