In trading on Wednesday, Public Storage’s 3.875% Dep Shares Cumulative Preferred Share Series N (Symbol: PSA.PRN) yielded over 6.5%, based on an annualized quarterly dividend of $0.9688. Shares reached a low of $14.89 during the trading session. This yield is significantly below the average of 8.11% for preferred stocks in the Real Estate category.
As of the last close, PSA.PRN was trading at a 40.16% discount to its liquidation preference amount, compared to the average discount of 14.38% in the Real Estate segment. On the day, PSA.PRN was down approximately 0.1%, while Public Storage’s common shares (Symbol: PSA) dropped around 0.8%.
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