In trading on Tuesday, shares of Public Storage’s 4.00% Dep Shares Cumulative Preferred Share Series P (Symbol: PSA.PRP) yielded above 6.5%, with prices dropping to as low as $15.36. This yield is significantly lower than the average of 8.12% in the “Real Estate” preferred stock category, according to Preferred Stock Channel. As of the last close, PSA.PRP was trading at a 38.40% discount to its liquidation preference amount, compared to the average discount of 14.45% for the category.
On the same day, PSA.PRP shares increased by approximately 0.3%, while the common shares (Symbol: PSA) decreased by about 0.1%.
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