REIT | Innovative Income Investor

PS Business Parks, Inc 5.20% Cumulative Preferred Stock, Series Y

PS Business Parks acquired by Blackstone on 7/20/2022. Ratings withdrawn

Shares were tendered for at a price of $15.33/share and 5.8 million shares were tendered. Shares to delist 1/13/2023

Balance of shares not tendered now trading on the OTC market

Shares were tendered for (again) at a price of $15.33/share on 3/1/2023).

Preferred stock dividend reinstated 4/2020

Dividend suspended 3/2020 because of asset damage caused by Covid 19.

Coupon is fixed at 7.25% until 1/27/2025 at which point it begins to float at 3 month Libor plus a spread of 5.011%