Stockholders OK Tripling of Storage Equities Shares

Stockholders of Storage Equities in Glendale approved a plan that would triple to 60 million from 20 million the number of common shares the company is authorized to issue.

Storage Equities, a real-estate investment trust whose shares trade on the New York Stock Exchange, said the plan would increase to 50 million from 500,000 the number of preferred shares the company is authorized to issue.

The company said its directors have not decided whether to actually issue any of the newly authorized common stock and have no plans to issue any of the new preferred shares.