|Bid||0.00 x 900|
|Ask||27.28 x 1000|
|Day's range||25.04 - 25.37|
|52-week range||25.04 - 25.37|
|Beta (5Y monthly)||0.08|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Public Storage (NYSE:PSA) announced today the tax treatment of the Company’s 2020 dividends. For the tax year ended December 31, 2020, 100% of the distributions for the PSA common stock and all the various series of preferred stock were classified as ordinary income. The Company did not declare a capital gain distribution, nor did it have any unrecaptured section 1250 gain for 2020.
Public Storage (PSA) is tapping the debt market to procure capital for its expansion efforts with $500 million of senior notes offering.
Tom Boyle, Chief Financial Officer of Public Storage (NYSE:PSA, the "Company"), announced today that the Company has priced a public offering of $500 million aggregate principal amount of Senior Notes due 2026 (the "Notes"). The Notes will bear interest at an annual rate of 0.875%, will be issued at 99.817% of par value and will mature on February 15, 2026. Interest on the Notes is payable semi-annually on February 15 and August 15 of each year, commencing August 15, 2021. The offering is expected to close on January 19, 2021, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds to make investments in self-storage facilities and in entities that own self-storage facilities, for the development of self-storage facilities and for general corporate purposes, including the redemption of its preferred shares.