DLR vs PSA: Which Is the Better Dividend Stock?
As of July 2026, PSA (Public Storage) screens as the stronger dividend stock, winning 5 of 6 head-to-head metrics. PSA offers the higher yield at 3.77%, DLR has the higher dividend-safety score, and PSA trades at the larger discount to fair value (-31%).
| Metric | DLR | PSA |
|---|---|---|
| Forward yield | 2.81% | 3.77% |
| Annual dividend | $4.88 | $12.00 |
| Payout ratio | 129% | 124% |
| Years of growth | 0 yr | 0 yr |
| 5-yr dividend growth | 1.7% | 8.4% |
| 5-yr total return | 6% | -2% |
| Dividend safety score | 85 (A) | 85 (A) |
| Fair value estimate | $105.10 | $220.34 |
| Upside to fair value | -40% | -31% |
| Frequency | quarterly | quarterly |
| Market cap | $66.3B | $55.4B |
| P/E ratio | 46.1 | 32.9 |
Higher yield
PSA
3.77%
Safer dividend
DLR
Grade A
Faster growth
PSA
8.4%
Better value
PSA
-31% upside
DLR vs PSA — FAQ
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