Public Storage — A High-Yield, High Dividend Growth Company

Self-storage.

It’s a highly lucrative real estate sector most people never think about.

While apartment buildings and offices cater to people, self-storage’s tenants consist of boxes and old furniture. And historically, the sector has done very well.

But, self-storage has recently fallen on hard times.

Rising interest rates have turned Wall Street against real estate in general. And, many self-storage stocks are now trading significantly below their all-time highs.

Public Storage ($PSA) is one such business.

This is a company that has done well over the long-term. In fact, Public Storage issued a massive 50% dividend increase in 2023. But, the company’s stock is down year-to-date.

And, Public Storage stock is now cheaper than it was in May of last year.

Today’s article examines Public Storage stock, and whether or not this is a good long-term investment.

What Does Public Storage Do?

Public Storage stores stuff.

The company operates 3,044 self-storage facilities across 40 different states.