Founded in 1972, Public Storage (PSA) is a real estate investment trust (REIT) that engages in acquisition, development, ownership, and operation of self storage facilities. Today, it operates in over 2,200 different locations in United States and in Europe. It is the largest owner and operator self-storage facilities that serve over 1 million costumers. Based on number of tenants, Public Storage is among the largest landlords in the world.
- Dividend Yield: 3.6%
- 3 Year Dividend Growth Rate: 15.3%
- 5 Year Dividend Growth Rate: 20.2%
- Payout Ratio: 78.5%
- P/E: 34.5
- Consecutive Years of Dividend Raises: 5
I purchased 8 shares for the price of $188.60 adding $54.40 to my annual dividend income.
This is the 5th consecutive time I am initiating a stock acquisition this year. The transaction is my initial purchase of PSA back into the portfolio. Furthermore, the acquisition makes it the 29th company I am invested in. Currently, PSA ownership stake represents to be around 2.3% of my current portfolio.
The company did announce a dividend raise this past quarter of 21.4%.
The 12-month dividend income increased to $2,382.
Thank you for reading & have a great day!