In trading on Wednesday, shares of Public Storage's 6.35% Cumulative Preferred Share of Beneficial Interest, Series R (PSA.PRR) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.5875), with shares changing hands as low as $22.66 on the day. This compares to an average yield of 7.84% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, PSA.PRR was trading at a 8.64% discount to its liquidation preference amount, versus the average discount of 7.03% in the "Real Estate" category.
Public Storage's Preferred Series R Shares Cross 7% Yield Mark
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