PS Business Parks Inc., Glendale, Calif., has priced a public offering of 6 million depositary shares, each representing a tiny fraction of a share of preferred stock, at $25 per share.Each depositary share represents one-thousandth of a share of the company's series H 7.000% cumulative preferred stock. The company granted the underwriters an option to buy up to 900,000 additional shares to cover any overallotments. Citigroup was the lead manager of the offering. PS Business Parks, an equity real estate investment trust, can be found online at http://www.psbusinessparks.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
4h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
8h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
11h ago -
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