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Public Storage's Preferred Shares, Series I Crosses Above 4.5% Yield Territory

In trading on Friday, shares of Public Storage's 4.875% Cumulative Preferred Share of Beneficial Interest, Series I (Symbol: PSA.PRI) were yielding above the 4.5% mark based on its quarterly dividend (annualized to $1.2188), with shares changing hands as low as $27.06 on the day. This compares to an average yield of 6.10% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, PSA.PRI was trading at a 8.64% premium to its liquidation preference amount, versus the average premium of 5.26% in the "Real Estate" category.

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

Performance Comparison Chart

Below is a dividend history chart for PSA.PRI, showing historical dividend payments on Public Storage's 4.875% Cumulative Preferred Share of Beneficial Interest, Series I:

PSA.PRI+Dividend+History+Chart

In Friday trading, Public Storage's 4.875% Cumulative Preferred Share of Beneficial Interest, Series I (Symbol: PSA.PRI) is currently off about 0.1% on the day, while the common shares (Symbol: PSA) are off about 1%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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