What are the key financial results for Q3 2012?

This 8-K filing does not provide specific details on Public Storage's financial results for the quarter ended September 30, 2012. The press release (Exhibit 99.1) referenced in Item 2.02 would contain those details, but it is not included in the provided text.

Why is Public Storage redeeming its preferred shares?

The 8-K filing does not state the specific reasons for the redemption. Companies may redeem preferred shares for various reasons, such as to reduce interest expenses if market rates have fallen, to simplify their capital structure, or to refinance at more favorable terms.

What is the total cost of this redemption for Public Storage?

The total aggregate redemption amount for the three series of preferred shares is $362.5 million. This is comprised of $112.5 million for Series Z, $115 million for Series A, and $135 million for Series D.

What action do Series Z, Series A, and Series D preferred shareholders need to take?

Shareholders of record for these preferred shares will receive $25 per depositary share on December 27, 2012. The specific process for receiving the redemption payment will typically be handled by the depositary agent and communicated to shareholders through their brokerage accounts or directly by the company.

Public Storage 8-K: Earnings & Results

Summary

Public Storage (PSA) filed an 8-K on November 8, 2012, reporting its financial results for the third quarter ended September 30, 2012. While the specifics of the financial results are not detailed in this 8-K, the report primarily highlights a significant corporate action: the redemption of three series of cumulative preferred shares. This redemption is set to occur on December 27, 2012, with a redemption price of $25 per depositary share for Series Z, Series A, and Series D preferred shares. This action will result in a total payout of $362.5 million to preferred shareholders.

Key Highlights

1Public Storage announced its Q3 2012 financial results on November 8, 2012.
2The company is redeeming all outstanding depositary shares for its 6.250% Series Z Cumulative Preferred Shares.
3The company is redeeming all outstanding depositary shares for its 6.125% Series A Cumulative Preferred Shares.
4The company is redeeming all outstanding depositary shares for its 6.18% Series D Cumulative Preferred Shares.
5The redemption date for all three series of preferred shares is December 27, 2012.
6The redemption price is $25 per depositary share for each series.
7The total aggregate redemption amount is $362.5 million, allocated as $112.5 million for Series Z, $115 million for Series A, and $135 million for Series D.

Public Storage 8-K Report, Financial Results (Nov 9, 2012)

Summary

Key Highlights

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