Public Storage Sells a Preferred Issue

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Large Storage REIT Public Storage has sold a new issue of preferred stock.  It has been some time since the company, which is a large issuer of preferred stocks, has sold an issue.

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This issue has a coupon of 5.875%.  Proceeds will be used for general corporate purposes since they have no outstanding issues that are redeemable at this time.

Details of the issue are here.

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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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