Public Storage’s Preferred Series N Shares Cross 5.5% Yield Mark

In trading on Tuesday, shares of Public Storage’s 3.875% Dep Shares Cumulative Preferred Share Series N (Symbol: PSA.PRN) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $0.9688), with shares changing hands as low as $17.56 on the day. This compares to an average yield of 8.50% in the “Real Estate” preferred stock category, according to Preferred Stock Channel. As of last close, PSA.PRN was trading at a 29.44% discount to its liquidation preference amount, versus the average discount of 21.02% in the “Real Estate” category.

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