PSA-PH

Public Storage Series H preferred is backed by the largest self-storage REIT in the world, with over 2,800 locations across 40 states. Self-storage is one of the most recession-resistant real estate sectors — demand increases during both economic expansions (people buy more stuff) and contractions (people downsize and need storage).

Public Storage has a pristine balance sheet with an A-rated credit profile, which is exceptional for a REIT. The company has raised its common dividend consistently and has never missed a preferred dividend payment. The REIT structure means Public Storage distributes most of its earnings as dividends, providing strong coverage for preferred payments.

PSA-PH is particularly attractive for income investors who want real estate exposure without the volatility of common REIT stocks. The preferred dividend is fixed, providing predictable income regardless of fluctuations in self-storage occupancy rates or rental prices.