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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/13/21 Public Storage 8-K:7,8,9 4/13/21 13:5.2M Donnelley … Solutions/FA |
Document/Exhibit Description Pages Size 1: 8-K Current Report HTML 48K 2: EX-99.1 Miscellaneous Exhibit HTML 21K 3: EX-99.2 Miscellaneous Exhibit HTML 12K 9: R1 Document and Entity Information HTML 87K 11: XML IDEA XML File -- Filing Summary XML 13K 8: XML XBRL Instance -- d166816d8k_htm XML 54K 10: EXCEL IDEA Workbook of Financial Reports XLSX 7K 5: EX-101.DEF XBRL Definitions -- psa-20210413_def XML 55K 6: EX-101.LAB XBRL Labels -- psa-20210413_lab XML 96K 7: EX-101.PRE XBRL Presentations -- psa-20210413_pre XML 58K 4: EX-101.SCH XBRL Schema -- psa-20210413 XSD 21K 12: JSON XBRL Instance as JSON Data -- MetaLinks 18± 28K 13: ZIP XBRL Zipped Folder -- 0001193125-21-114065-xbrl Zip 22K
8-K |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM i 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): i April 13, 2021
i PUBLIC STORAGE
(Exact name of registrant as specified in its charter)
i Maryland | i 001-33519 | i 95-3551121 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS. Employer Identification No.) |
i 701 Western Avenue, i Glendale, i California |
i 91201-2349 | |
(Address of principal executive offices) | (Zip Code) |
i (818) i 244-8080
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
i ☐ | Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
i ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
i ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
i ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of Class |
Trading Symbol |
Name of exchange on which registered | ||
i Common Shares, $0.10 par value | i PSA | i New York Stock Exchange | ||
i Depositary Shares Each Representing 1/1,000 of a 5.125% Cum Pref Share, Series C, $0.01 par value | i PSAPrC | i New York Stock Exchange | ||
i Depositary Shares Each Representing 1/1,000 of a 4.950% Cum Pref Share, Series D, $0.01 par value | i PSAPrD | i New York Stock Exchange | ||
i Depositary Shares Each Representing 1/1,000 of a 4.900% Cum Pref Share, Series E, $0.01 par value | i PSAPrE | i New York Stock Exchange | ||
i Depositary Shares Each Representing 1/1,000 of a 5.150% Cum Pref Share, Series F, $0.01 par value | i PSAPrF | i New York Stock Exchange | ||
i Depositary Shares Each Representing 1/1,000 of a 5.050% Cum Pref Share, Series G, $0.01 par value | i PSAPrG | i New York Stock Exchange | ||
i Depositary Shares Each Representing 1/1,000 of a 5.600% Cum Pref Share, Series H, $0.01 par value | i PSAPrH | i New York Stock Exchange | ||
i Depositary Shares Each Representing 1/1,000 of a 4.875% Cum Pref Share, Series I, $0.01 par value | i PSAPrI | i New York Stock Exchange | ||
i Depositary Shares Each Representing 1/1,000 of a 4.700% Cum Pref Share, Series J, $0.01 par value | i PSAPrJ | i New York Stock Exchange | ||
i Depositary Shares Each Representing 1/1,000 of a 4.750% Cum Pref Share, Series K, $0.01 par value | i PSAPrK | i New York Stock Exchange | ||
i Depositary Shares Each Representing 1/1,000 of a 4.625% Cum Pref Share, Series L, $0.01 par value | i PSAPrL | i New York Stock Exchange | ||
i Depositary Shares Each Representing 1/1,000 of a 4.125% Cum Pref Share, Series M, $0.01 par value | i PSAPrM | i New York Stock Exchange | ||
i Depositary Shares Each Representing 1/1,000 of a 3.875% Cum Pref Share, Series N, $0.01 par value | i PSAPrN | i New York Stock Exchange | ||
i Depositary Shares Each Representing 1/1,000 of a 3.900% Cum Pref Share, Series O, $0.01 par value | i PSAPrO | i New York Stock Exchange | ||
i 0.875% Senior Notes due 2032 | i PSA32 | i New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company i ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 | Regulation FD Disclosure. |
On Monday, April 13, 2021, Public Storage (the “Company”) posted on its website the presentation included in Exhibit 99.1 and issued the press release included in Exhibit 99.2 regarding the acquisition described below.
The information in Item 7.01 of this Current Report on Form 8-K and the information contained in Exhibit 99.1 and Exhibit 99.2 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended.
Item 8.01 | Other Events. |
On Monday, April 13, 2021, the Company announced that it had entered into a definitive agreement to acquire 48 self-storage facilities currently operated by ezStorage Corp. for an acquisition price of $1.8 billion. The properties are located in sub-markets across Washington D.C. and Baltimore, Maryland and comprise 4.2 million net rentable square feet. The acquired portfolio averaged 86% occupancy and $21.89 rent per square foot during the fourth quarter of 2020. The Company estimates that the nominal capitalization rate for the acquisition is 3.6% based on the portfolio’s annualized net operating income for the fourth quarter of 2020. The acquisition, which is subject to the satisfaction of customary closing conditions, is currently expected to close in May 2021. However, there can be no assurances that these closing conditions will be satisfied or that the acquisition will close on the terms described herein, or at all.
Forward-Looking Statements
This Form 8-K includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements speak only as of the date of this Form 8-K. These forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Factors and risks that may impact future results and performance are described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020. The Company disclaims any obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, new estimates, or other factors, events or circumstances after the date of this presentation, except where required by law.
Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits
Exhibit |
||
99.1 | Presentation dated April 13, 2021. | |
99.2 | Press Release dated April 13, 2021. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PUBLIC STORAGE | ||||||
By: | /s/ H. Thomas Boyle | |||||
Date: April 13, 2021 | Chief Financial Officer |
This ‘8-K’ Filing | Date | Other Filings | ||
---|---|---|---|---|
Filed on / For Period end: | 4/13/21 | |||
12/31/20 | 10-K, 11-K, 4 | |||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 1/05/22 Public Storage 424B5 1:631K Donnelley … Solutions/FA 1/04/22 Public Storage 424B5 1:629K Donnelley … Solutions/FA 11/10/21 Public Storage 424B5 1:629K Donnelley … Solutions/FA 11/09/21 Public Storage 424B5 1:628K Donnelley … Solutions/FA 11/05/21 Public Storage 424B5 1:778K Donnelley … Solutions/FA 11/04/21 Public Storage 424B5 1:773K Donnelley … Solutions/FA 9/03/21 Public Storage 424B5 1:796K Donnelley … Solutions/FA 9/02/21 Public Storage 424B5 1:793K Donnelley … Solutions/FA 8/11/21 Public Storage 424B5 1:629K Donnelley … Solutions/FA 8/10/21 Public Storage 424B5 1:627K Donnelley … Solutions/FA 6/08/21 Public Storage 424B5 1:628K Donnelley … Solutions/FA 6/07/21 Public Storage 424B5 1:627K Donnelley … Solutions/FA 5/03/21 Public Storage S-8 5/03/21 3:80K Donnelley … Solutions/FA 4/16/21 Public Storage 424B5 1:867K Donnelley … Solutions/FA 4/14/21 Public Storage 424B5 1:876K Donnelley … Solutions/FA |