In trading on Wednesday, shares of Public Storage's 5.90% Cumulative Preferred Share of Beneficial Interest, Series S (PSA.PRS) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.475), with shares changing hands as low as $24.53 on the day. This compares to an average yield of 7.16% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, PSA.PRS was trading at a 1.44% discount to its liquidation preference amount, versus the average premium of 0.40% in the "Real Estate" category.
Public Storage's Preferred Series S Shares Cross 6% Yield Mark
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