In trading on Thursday, shares of Public Storage's 5.90% Cumulative Preferred Share of Beneficial Interest, Series S (PSA.PRS) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.475), with shares changing hands as low as $21.07 on the day. This compares to an average yield of 7.79% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, PSA.PRS was trading at a 14.16% discount to its liquidation preference amount, versus the average discount of 6.49% in the "Real Estate" category.
Public Storage's Preferred Shares, Series S Yield Pushes Past 7%
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