Public Storage, a real estate investment trust based in Glendale, Calif., has announced that it will redeem all outstanding depositary shares representing interests in its 7.625% series U cumulative preferred stock on Feb. 25 at $25 per share plus accrued dividends.Accrued dividends will include those accrued from Jan. 1, 2007 through the redemption date. The aggregate redemption amount (before payment of accrued dividends) will be $150 million, the company said. The storage REIT can be found online at http://www.publicstorage.com.

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