Public Storage's Preferred Share Series L Yield Pushes Past 5.5%

In trading on Thursday, shares of Public Storage's 4.625% Dep Shares of Cumulative Preferred Share Series L (Symbol: PSA.PRL) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.1563), with shares changing hands as low as $21.02 on the day. This compares to an average yield of 8.46% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, PSA.PRL was trading at a 15.28% discount to its liquidation preference amount, versus the average discount of 20.57% in the "Real Estate" category.

The chart below shows the one year performance of PSA.PRL shares, versus PSA:

Below is a dividend history chart for PSA.PRL, showing historical dividend payments on Public Storage's 4.625% Dep Shares of Cumulative Preferred Share Series L:

In Thursday trading, Public Storage's 4.625% Dep Shares of Cumulative Preferred Share Series L (Symbol: PSA.PRL) is currently off about 0.2% on the day, while the common shares (Symbol: PSA) are up about 0.3%.

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