Public Storage (NYSE:PSA) declared a quarterly dividend on Wednesday, October 25th, RTT News reports. Stockholders of record on Wednesday, December 13th will be paid a dividend of 2.00 per share by the real estate investment trust on Thursday, December 28th. This represents a $8.00 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Tuesday, December 12th.
Public Storage has increased its dividend by an average of 12.3% annually over the last three years and has increased its dividend every year for the last 7 years. Public Storage has a payout ratio of 78.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Public Storage to earn $10.54 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 75.9%.
Public Storage (PSA) opened at $211.80 on Thursday. Public Storage has a 12 month low of $192.15 and a 12 month high of $232.21. The company has a market cap of $36,731.36, a price-to-earnings ratio of 21.30, a PEG ratio of 4.53 and a beta of 0.43.
In other news, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $212.24, for a total transaction of $12,734,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.42% of the stock is currently owned by company insiders.
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About Public Storage
Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
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