Public Storage Announces Quarterly Dividend of $3.00 (NYSE:PSA)

Public Storage (NYSE:PSA) declared a quarterly dividend on Tuesday, February 17th. Stockholders of record on Monday, March 16th will be given a dividend of 3.00 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, March 16th.

Public Storage has increased its dividend by an average of 0.1%per year over the last three years. Public Storage has a dividend payout ratio of 113.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Public Storage to earn $17.22 per share next year, which means the company should continue to be able to cover its $12.00 annual dividend with an expected future payout ratio of 69.7%.

Public Storage Stock Performance

Shares of PSA stock traded down $3.29 on Wednesday, reaching $298.72. The stock had a trading volume of 249,229 shares, compared to its average volume of 1,204,371. Public Storage has a 12 month low of $256.54 and a 12 month high of $322.49. The firm has a market capitalization of $52.41 billion, a price-to-earnings ratio of 33.15, a P/E/G ratio of 10.24 and a beta of 1.01. The firm’s 50-day moving average is $276.64 and its two-hundred day moving average is $282.31. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.