No. of Recommendations: 7
Stat5guy said: CM001, How do you know that PLD plans to call their preferred shares this year. I have been all over the PLD website and not found that information. Did I miss something?

Stat5, this was widely discussed on the PLD Q4 2/6/13 earnings conference call:

The -- one more piece would be the preferreds, as you mentioned. We can redeem all but one series of our preferreds. That's just under about $0.5 billion. And then the balance of that, to finish it out, would be on our line. So when you look at the blended yield on all of that activity, on all of that reduction of leverage, that's about 4.2%

So it is pretty clear cut that they plan to redeem all of their callable preferreds. They did not give a firm date, so we are left to guess when that might be. The safest thing is to always assume it is 30 days from today. I think they have to give investors 30 day notice. I agree with Jim and own the PLDGP which has a first call date of 11/13/2026.


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