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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Public Storage Announces Redemption of All Outstanding Depositary Shares Representing Interests in its 6.375% Cumulative Preferred Shares, Series Y

February 22, 2019

GLENDALE, Calif.--(BUSINESS WIRE)--Feb 22, 2019--Public Storage (NYSE:PSA) announced today that it is calling for redemption all outstanding depositary shares representing interests in its 6.375% Cumulative Preferred Shares, Series Y (NYSE:PSAPrY) on March 28, 2019 at $25 per depositary share. The aggregate redemption amount to be paid to all holders of the depositary shares is $285,000,000.

Company Information

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 September 30, 2018, the Company had interests in 2,418 self-storage facilities located in 38 states with approximately 161 million net rentable square feet in the United States and 228 storage facilities located in seven Western European nations with approximately 12 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 wholly owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2018.

Additional information about Public Storage is available on the Internet. The Company’s website is PublicStorage.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190222005497/en/

CONTACT: Ryan Burke

(818) 244-8080, Ext. 1141

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: REIT CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE

SOURCE: Public Storage

Copyright Business Wire 2019.

PUB: 02/22/2019 04:02 PM/DISC: 02/22/2019 04:01 PM

http://www.businesswire.com/news/home/20190222005497/en