Public Storage Coming to Market with a New Preferred

Once again self storage giant Public Storage (PSA) is going to offer a new preferred stock.

While normally the company, which has many preferred issues outstanding, would call an old issue of preferreds they have none that are callable until 1/2021.

The company issued a 3.875% preferred on 10/25/2020 so I would expect this new issue to be more of the same–the PSA-N issue (from October) is trading at $25.10.

The preliminary prospectus is here

6 thoughts on “Public Storage Coming to Market with a New Preferred”

    1. No wonder so many are choosing to pile back into the common side of the ballfield, myself included. Buy a decent large cap with an excellent DGR and history and you’re exceeding 3.9% well before you even let the smoke settle on your buy order.

      1. agree A4I. Keeping the ones I have but not adding any new preferreds. Some nice yields were available among very solid commons when market dipped.

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