On 9/11/14, Public Storage's 6.5% Cumulative Preferred Share of Beneficial Interest, Series P (PSA.PRP) will trade ex-dividend, for its quarterly dividend of $0.4062, payable on 9/30/14. As a percentage of PSA.PRP's recent share price of $26.10, this dividend works out to approximately 1.56%, so look for shares of PSA.PRP to trade 1.56% lower — all else being equal — when PSA.PRP shares open for trading on 9/11/14. On an annualized basis, the current yield is approximately 6.23%, which compares to an average yield of 6.93% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.As of last close, PSA.PRP was trading at a 4.32% premium to its liquidation preference amount, versus the average premium of 1.87% in the "Real Estate" category. The chart below shows the one year performance of PSA.PRP shares, versus PSA: Below is a dividend history chart for PSA.PRP, showing historical dividends prior to the most recent $0.4062 on Public Storage's 6.5% Cumulative Preferred Share of Beneficial Interest, Series P: According to the ETF Finder at ETF Channel, Public Storage ( PSA) makes up 10.32% of the iShares Residential Real Estate Capped ETF (REZ) which is trading lower by about 0.6% on the day Tuesday. In Tuesday trading, Public Storage's 6.5% Cumulative Preferred Share of Beneficial Interest, Series P ( PSA.PRP) is currently up about 0.1% on the day, while the common shares ( PSA) are off about 0.7%.