PLD vs PSA: Dividend Comparison
Dividend data as of
Prologis, Inc. (PLD) and Public Storage (PSA) are both in the Real Estate sector, making them natural rivals for dividend investors. PSA offers a significantly higher 4.11% yield compared to PLD's 2.88%, a gap of 1.23%. For dividend growth, PLD leads with a 5-year CAGR of 12.5% versus PSA's 10.7%. Both stocks carry a "Safe" dividend safety rating. PLD is a Dividend Contender with 12 years of consecutive increases.
Verdict
Yield Analysis
PSA yields 1.23% more than PLD. In dollar terms, PLD pays $4.04/share vs PSA's $12.00/share annually.
Dividend Growth
PLD: Dividend growth is slowing — the 3-year CAGR of 7.8% trails the 5-year rate of 12.5% and the 10-year rate of 10.2%.
PSA: Dividend growth is slowing — the 3-year CAGR of 0.0% trails the 5-year rate of 10.7% and the 10-year rate of 5.7%.
Dividend Safety
PLD: The payout ratio of 1% is well within sustainable levels, leaving room for future increases. Earnings cover the dividend 0.9x.
PSA: The payout ratio of 1% is well within sustainable levels, leaving room for future increases. Earnings cover the dividend 0.8x.
Estimated Annual Dividend Income
Based on current dividend yields. Actual income may vary.
What does $10,000 buy in PLD vs PSA today?
At $138.93 per share, $10,000 buys about 72.0 shares of Prologis, Inc. (PLD). Each share pays $4.04 per year in dividends, so the position starts out generating roughly $291 per year — about $24 a month.
At $296.17 per share, $10,000 buys about 33.8 shares of Public Storage (PSA). Each share pays $12.00 per year in dividends, so the position starts out generating roughly $405 per year — about $34 a month.
PSA is the larger income stream from day one: $114 per year more on the same $10,000 invested.
What could $10,000 of PLD or PSA income look like in 10 years?
Prologis, Inc. (PLD) has raised its dividend about 12.5% a year over the past five years. If that pace held, the $288 per year that $10,000 generates today at the current 2.88% yield would reach $936 per year by 2036 — a 9.4% yield on the original cost.
Public Storage (PSA) has raised its dividend about 10.7% a year over the past five years. If that pace held, the $411 per year that $10,000 generates today at the current 4.11% yield would reach $1,131 per year by 2036 — a 11.3% yield on the original cost.
On those trailing rates, PSA pays more in 2036: $1,131 versus $936 per year. The projection assumes each five-year growth rate persists and no dividends are reinvested — real payouts will differ.
When would PLD's dividend growth overtake PSA's higher yield?
Prologis, Inc. (PLD) yields less today (2.88% vs 4.11%) but has grown its dividend faster — 12.5% vs 10.7% a year over the past five years. If both trends continued, a $10,000 position in PLD would start out-earning the same position in PSA around 2048 (roughly 22 years from now), paying about $3,853 per year at the crossover. Before that point, PSA pays more each year; after it, the gap compounds in PLD's favor.
Can PLD and PSA afford their dividends?
Prologis, Inc. (PLD) earns $3.45 per share against $4.04 paid out in dividends — 0.9x coverage (a 1% payout ratio).
Public Storage (PSA) earns $9.62 per share against $12.00 paid out in dividends — 0.8x coverage (a 1% payout ratio).
Coverage is similar for both, so neither dividend looks meaningfully more stretched than the other on current earnings.
Which fits an early-retirement income portfolio better, PLD or PSA?
For income you need right now, Public Storage (PSA) leads: $100,000 invested today pays about $342 a month at the current 4.11% yield, versus $240 a month from Prologis, Inc. (PLD) at 2.88%.
With a decade or more before the income is needed, PLD's faster dividend growth (12.5% vs 10.7% a year) matters more than the starting yield — raises compound into the larger paycheck over time.
On consistency: PLD has raised its dividend 12 consecutive years.
Many income investors simply hold both — the mix pairs current yield with growth and spreads single-name risk. Whichever way you lean, dividends are never guaranteed; recheck the payout each quarter rather than setting and forgetting.
$10,000 with DRIP: projected annual income
If each holding keeps raising its dividend at its real 5-year rate and every payment is reinvested, a $10,000 position pays $1,242/yr in PLD vs $1,692/yr in PSA by year 10.
Assumes dividends are reinvested at the current yield and grow at each holding's trailing 5-year dividend CAGR. A projection, not a prediction — no price appreciation modeled.
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