Public Storage Xi Inc

The country's largest self-storage firm, Glendale-based Public Storage Inc., or PSI, is spinning off its office and industrial holdings into a new publicly held real estate investment trust. The new REIT, an owner of 60 business parks, primarily in California, Texas and Virginia, will be renamed PS Business Parks and is expected to begin trading on the American Stock Exchange today under the ticker symbol PSB.

The country's largest self-storage firm, Glendale-based Public Storage Inc., or PSI, is spinning off its office and industrial holdings into a new publicly held real estate investment trust. The new REIT, an owner of 60 business parks, primarily in California, Texas and Virginia, will be renamed PS Business Parks and is expected to begin trading on the American Stock Exchange today under the ticker symbol PSB.

Public Storage Properties X Inc. and Public Storage Properties XI Inc. said their stockholders will receive a one-time payment from the companies' excess funds in addition to their regular second-quarter distribution. The extra payments, to be made July 15, amount to 8 cents a share for PSP-X and 17 cents a share for PSP-XI. The companies' directors are expected to declare the regular payout on May 15, which also would be paid July 15 to stockholders of record June 28.