Public Storage Inc., Glendale, Calif., has priced a public offering of 20 million depositary shares, each of which represents one-thousandth of a share of 6.625% series M cumulative preferred stock, at $25 per share.The real estate investment trust said gross proceeds are expected to total $500 million. The joint book-running managers for the offering are Merrill Lynch & Co., Citigroup Global Markets Inc., Morgan Stanley & Co., and Wachovia Securities. The REIT can be found on the Web at http://www.publicstorage.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
11h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24 -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24