Public Storage (NYSE:PSA) Declares $3.00 Quarterly Dividend

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 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. Equities 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 Trading Down 1.1%

NYSE PSA traded down $3.29 during trading on Wednesday, reaching $298.72. 249,229 shares of the stock traded hands, compared to its average volume of 1,204,371. The stock’s 50-day moving average price is $276.64 and its 200 day moving average price 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. The firm has a market cap of $52.41 billion, a price-to-earnings ratio of 33.15, a price-to-earnings-growth ratio of 10.24 and a beta of 1.01. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $322.49.

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.