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Public Storage (PSA)
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The payout ratio for Public Storage (PSA) stock is 132.74% over the past 12 months. PSA has a payout ratio of 132.7%, based on $12.00 of dividends per share and $9.69 of EPS.

REIT note: for real-estate investment trusts the net-income payout ratio overstates the dividend, because large non-cash depreciation depresses GAAP earnings. REITs are evaluated on FFO / AFFO payout (the industry standard) and on the FCF payout — a payout above 100% here is normal for a REIT and is not, by itself, a sign the dividend is unsafe.

PSA Payout Ratio History

Annual Payout Ratio History

YearEPSDividendPayout Ratio
2025$9.04$12.00132.7%
2024$10.68$12.00112.4%
2023$11.11$12.00108.0%
2022$23.64$21.1589.5%
2021$9.91$8.0080.7%
2020$6.29$8.00127.2%
2019$7.30$8.00109.6%
2018$9.84$8.0081.3%
2017$6.75$8.00118.5%
2016$6.84$7.30106.7%
2015$6.10$6.50106.6%
2014$5.27$5.60106.3%
2013$4.92$5.15104.7%
2012$3.93$4.40112.0%
2011$3.31$3.65110.3%
2010$2.36$3.05129.2%
2009$3.48$2.2063.2%
2008$4.19$2.8066.8%
2007$1.18$2.00169.5%
2006$0.33$2.00606.1%
2005$1.98$1.9096.0%
2004$1.39$1.80129.5%
2003$1.29$1.80139.5%
2002$1.15$1.80156.5%
2001$1.41$1.69119.9%
2000$1.41$1.48105.0%
1999$1.53$1.5098.0%
1998$1.30$0.8867.7%
1997$0.92$0.8895.7%
1996$1.10$0.8880.0%

About Public Storage

Public Storage (PSA), an esteemed Real Estate Investment Trust (REIT) and a constituent of both the S&P 500 and FT Global 500 indices, concentrates its operations on the acquisition, development, ownership, and management of self-storage properties. By September 30, 2020, the company's substantial holdings included 2,504 self-storage facilities located across 38 U.S. states, collectively providing around 171 million net rentable square feet. Additionally, Public Storage held an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR), an entity that owned and operated 239 self-storage sites under the Shurgard brand in seven Western European countries, encompassing approximately 13 million net rentable square feet. Concurrently, it maintained an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB), which, as of the same reporting date, managed roughly 28 million rentable square feet of commercial properties. The company's main office is situated in Glendale, California.

Glendale, CA
5,900 employees
Real Estate / REIT - Industrial
Sector
Real Estate
Industry
REIT - Industrial
CEO
H. Thomas Boyle