Featured Articles
Looking Ahead to 2015
Tim McPartland | November 23, 2014
We've been asked by a number of readers about our plans for a 2015 Model and as such have begun to ponder how we want to handle the new year.In 2013 we totally liquidated the portfolio at the end of the year--that was a mistake as the various allocations and performance allow us to continue with our 'experiments'. Previous models…
REIT Resource Capital Does a “At the Money’ Preferred Offering
Tim McPartland | November 22, 2014
Commercial lending REIT Resource Capital(ticker:RSO) has affirmed a prior 'at the money'preferred stock offering and added another issue to the issues already being offered. The offering will cover all 3 outstanding issues of preferred stock that RSO currently has outstanding. The issues covered are--RSO-A (8.50%), RSO-B (8.25%) and RSO-C (8.625% Floating). They can sell up to 3,000,000 shares.In the case of the…
Public Storage Sells a Preferred Issue
Tim McPartland | November 21, 2014
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.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…
Public Storage 5.875% Cumulative Preferred Stock Series A
Tim McPartland | November 20, 2014
Date Issued 11/20/2014Shares Issued 7,000,000 Overallotment Shares 1,000,000S&P Rating BBB+ Moodys Rating A3Security Ticker Symbol PSA-A OTC Temp Ticker PBSTPMarket Traded ON NYSEDividend Payment Paid on the last day of March, June, September and December beginning on 03/31/2015Quarterly Dividend .367 Annual Dividend 1.469Securities may be redeemed, at the issuers option, as early as…
