Public Storage Trust’s Stock Begins Trading
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Public Storage Properties XIV Inc., a Glendale concern that last month converted to a real estate investment trust from a partnership, said its series A stock began trading Monday on the American Stock Exchange.
The trust, which mainly invests in storage warehouses that are managed by affiliates of Public Storage Inc. in Glendale, is the latest of several Public Storage-related partnerships that have converted to real estate investment trust status. As a REIT, the trust pays no corporate income tax, provided nearly all of its earnings are distributed to its stockholders.
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