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

Key Points

• Public Storage declared a $3.00-per-share quarterly dividend, payable October 6 to shareholders of record on September 15. The dividend equates to $12 annually and a yield of approximately 4.1%.
• The current dividend payout ratio is high at 113.1%, meaning earnings do not fully cover the payout; however, analysts expect next year’s earnings to lower the projected payout ratio to 68.8%.
• Public Storage reported quarterly adjusted earnings of $4.17 per share, exceeding estimates of $2.53, while revenue of $1.23 billion was in line with forecasts and declined 0.5% year over year.

Public Storage (NYSE:PSA - Get Free Report) announced a quarterly dividend on Tuesday, August 4th. Stockholders of record on Tuesday, September 15th will be given a dividend of 3.00 per share by the real estate investment trust on Tuesday, October 6th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Tuesday, September 15th.

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 $17.43 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 Price Performance

PSA traded up $1.63 during midday trading on Friday, reaching $296.23. 683,136 shares of the company's stock were exchanged, compared to its average volume of 713,208. The firm has a market capitalization of $52.02 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 4.03 and a beta of 0.95. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. Public Storage has a one year low of $256.54 and a one year high of $335.55. The business has a 50-day simple moving average of $317.90 and a two-hundred day simple moving average of $307.70.

Public Storage (NYSE:PSA - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating the consensus estimate of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the company posted $4.28 EPS. The company's revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, research analysts predict that Public Storage will post 16.93 EPS for the current year.

About Public Storage

Public Storage is a real estate investment trust that owns, operates and develops self-storage facilities in the United States. The company provides customers with storage units for household goods, business inventory, vehicles and other personal or commercial belongings.

Its facilities offer a range of unit sizes and may include features such as drive-up access, climate-controlled storage, electronic gate access and online account management. Public Storage also provides related services, including tenant insurance options and moving and packing supplies at select locations.

Founded in 1972 and headquartered in Glendale, California, Public Storage serves customers through a nationwide network of self-storage properties.

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