Public Storage's strong earnings and acquisition boost dividend growth potential.

Public Storage (PSA), a major self-storage REIT, shows strong funds from operations (FFO) and adjusted funds from operations (FAD), ensuring solid coverage of both common and preferred dividends. Its recent acquisition of National Storage is expected to increase FFO, supporting continued dividend growth. PSA's Series N preferred stock offers a 6.45% yield with upside potential if interest rates fall, backed by a low payout ratio, strong balance sheet, and limited senior debt. This makes PSA's preferred shares attractive for income-focused investors.