Public Storage (NYSE:PSA) Shares Will Pay Quarterly Dividend of $3.00

Public Storage (NYSE:PSA) announced a quarterly dividend on Tuesday, November 3rd. Investors of record on Tuesday, December 15th will be given a dividend of $3.00 per share by the real estate investment trust on Friday, January 8th. This represents a $12.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, December 15th.

Public Storage has raised its dividend payment 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. Research analysts expect Public Storage to earn $17.43 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 68.8%.

Public Storage Stock Performance

Shares of PSA stock opened at $333.06 on Wednesday. Public Storage has a one year low of $256.54 and a one year high of $335.55. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50 day moving average price of $299.22 and a 200 day moving average price of $303.28. The firm has a market capitalization of $62.23 billion, a price-to-earnings ratio of 34.88, a price-to-earnings-growth ratio of 4.96 and a beta of 0.89.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Public Storage had a return on equity of 29.93% and a net margin of 37.76%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the business earned $4.31 EPS. Sell-side analysts anticipate that Public Storage will post 16.97 EPS for the current year.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.