Welcome to our dedicated page for PSB news (Ticker: PSB), a resource for investors and traders seeking the latest updates and insights on PSB stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect PSB's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of PSB's position in the market.
Public Storage (NYSE:PSA) has declared a one-time dividend of $13.15 per common share, payable on August 4, 2022, to shareholders on record by August 1, 2022. This dividend comes from a projected $2.3 billion tax gain related to the acquisition of PS Business Parks, Inc. (NYSE:PSB) by Blackstone Real Estate, completed on July 20, 2022. Public Storage received $187.50 in cash per share for its 41% stake in PSB, aimed at fulfilling REIT distribution requirements for 2022 taxable income. A guidance update regarding the transaction is expected on August 4, 2022.
PS Business Parks, Inc. (NYSE:PSB) announced that stockholders approved its acquisition by Blackstone Real Estate affiliates during a Special Meeting. This transformative transaction is expected to close around July 20, 2022. Stockholders will receive a total of $187.716848 per share in cash, including a $5.25 closing cash dividend and a prorated dividend of $0.216848 per share. If the closing is delayed, dividends may not be disbursed on the expected date. The transaction aims to enhance shareholder value and is viewed positively by management.
Public Storage (NYSE:PSA) will release its second quarter 2022 earnings results on August 4, 2022, after market close. A conference call to discuss these results is scheduled for August 5, 2022, at 9:00 a.m. PDT. Investors can join the call using the domestic dial-in number (866) 342-8591 or the international number (203) 518-9713, referencing Conference ID PSAQ222. The earnings call will also be available via a webcast at PublicStorage.com, under Investor Relations.
PS Business Parks (NYSE:PSB) announced it expects to finalize its merger with Blackstone affiliates around July 20, 2022. This follows a special stockholder meeting on July 15, 2022, pending stockholder approval. A cash dividend of $5.25 per share and a prorated quarterly dividend of $0.216848 are set to be paid before the merger. Holders of PSB stock at the closing will receive a total of $187.716848 per share. If delayed, dividends may not be paid. More information can be found in the Proxy Statement filed with the SEC on June 8, 2022.
Public Storage (NYSE:PSA) has earned the prestigious Great Place to Work Certification™ for 2022, reflecting positive employee sentiments regarding workplace culture. This certification, recognized globally, indicates that employees feel valued and supported within the company. Job seekers at certified workplaces are reported to find better leadership and fair compensation opportunities. Public Storage operates 2,797 self-storage facilities across 39 states, with a significant equity interest in Shurgard Self-Storage and PS Business Parks. The company's commitment to employee experience is highlighted by leadership statements emphasizing a people-centered culture.
Public Storage (NYSE:PSA) will present virtually at REITweek 2022 on June 8, 2022, from 9:30 a.m. to 10:00 a.m. ET. The event will be accessible to registered participants via a complimentary registration on Nareit’s website. As of March 31, 2022, Public Storage operates 2,797 self-storage facilities across 39 states, totaling approximately 199 million net rentable square feet. The company also holds substantial equity interests in Shurgard Self-Storage SA and PS Business Parks, Inc., reflecting its diverse operations in the self-storage and commercial real estate sectors.
PS Business Parks, Inc. (NYSE:PSB) has announced the expiration of the 'go-shop' period related to its merger agreement with Blackstone Real Estate. The all-cash transaction is valued at approximately $7.6 billion, offering $187.50 per share. During the go-shop period, no competing acquisition proposals were received after reaching out to 43 potential interested parties. PSB will now enter a 'no-shop' phase, restricting negotiations with other parties. The merger is anticipated to close in Q3 of 2022, pending stockholder approval and customary closing conditions.
Public Storage (NYSE: PSA) reported robust operating results for Q1 2022, with net income of $464.1 million, equating to $2.63 per diluted share, a 19.2% increase from Q1 2021. Core FFO rose 29.4% to $3.65 per diluted share. Same Store direct net operating income grew by 19.3%, driven by a 15.8% rise in revenues. The company acquired 10 facilities for $127.7 million and plans further acquisitions. Additionally, a merger with PS Business Parks, Inc. (PSB) is expected to yield significant cash proceeds and tax gains. A dividend of $2.00 per share was also declared.
PS Business Parks, Inc. (NYSE:PSB) reported a strong quarter ending March 31, 2022, with net income of $72.0 million, or $2.60 per diluted share. Although FFO decreased by 1.2% to $1.65 per share, Core FFO increased by 9.0% to $1.82 per share. Cash NOI rose by 5.6% to $78.1 million. The subsidiary sold the Royal Tech Business Park for $91.9 million. A merger with Blackstone Real Estate is set for $187.50 per share, pending stockholder approval. The merger is expected to finalize in Q3 2022.
FAQ
What is the market cap of PSB (PSB)?
