In trading on Monday, shares of Public Storage’s 4.0% Depositary Shares Cumulative Preferred Shares Series R (Symbol: PSA.PRR) yielded above 6.5%, with prices falling as low as $15.36. This yield contrasts with the average of 8.05% in the Real Estate preferred stock category, according to Preferred Stock Channel. PSA.PRR is trading at a 38.40% discount to its liquidation preference, significantly higher than the category average of 14.11%.
On the same day, PSA.PRR shares were down approximately 0.2%, while Public Storage’s common shares (Symbol: PSA) increased by about 0.7%.
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