PSA has been the topic of a number of other research reports. Jefferies Group set a $212.00 price objective on shares of Public Storage and gave the company a hold rating in a research report on Tuesday, November 28th. FBR & Co set a $220.00 price target on shares of Public Storage and gave the stock a hold rating in a report on Thursday, October 26th. Morgan Stanley cut shares of Public Storage from an equal weight rating to an underweight rating and set a $199.00 price target on the stock. in a report on Wednesday, December 13th. SunTrust Banks restated a hold rating and issued a $200.00 price target on shares of Public Storage in a report on Friday, October 27th. Finally, Barclays restated a hold rating and issued a $201.00 price target on shares of Public Storage in a report on Wednesday, January 31st. Eight analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $206.00.
Shares of Public Storage (PSA) opened at $186.31 on Tuesday. Public Storage has a 1 year low of $180.48 and a 1 year high of $232.21. The firm has a market cap of $32,850.24, a price-to-earnings ratio of 27.20, a P/E/G ratio of 3.71 and a beta of 0.31.
Public Storage (NYSE:PSA) last posted its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.76. Public Storage had a net margin of 52.48% and a return on equity of 27.78%. The business had revenue of $634.22 million for the quarter, compared to analysts’ expectations of $643.46 million. During the same quarter in the previous year, the business posted $2.03 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. equities analysts forecast that Public Storage will post 10.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, March 14th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 4.29%. Public Storage’s dividend payout ratio (DPR) is presently 116.79%.
In related news, Director Gary E. Pruitt sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $212.09, for a total value of $1,060,450.00. Following the completion of the sale, the director now directly owns 8,350 shares of the company’s stock, valued at $1,770,951.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Reyes sold 60,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $212.24, for a total transaction of $12,734,400.00. The disclosure for this sale can be found here. 14.42% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in PSA. Tower Research Capital LLC TRC lifted its stake in Public Storage by 841.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 527 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 471 shares during the period. Truewealth LLC purchased a new stake in shares of Public Storage during the fourth quarter valued at about $127,000. Trustcore Financial Services LLC purchased a new stake in shares of Public Storage during the fourth quarter valued at about $145,000. Cable Hill Partners LLC lifted its position in shares of Public Storage by 139.9% during the third quarter. Cable Hill Partners LLC now owns 787 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 459 shares during the last quarter. Finally, Advisory Services Network LLC lifted its position in shares of Public Storage by 184.6% during the fourth quarter. Advisory Services Network LLC now owns 942 shares of the real estate investment trust’s stock valued at $197,000 after buying an additional 611 shares during the last quarter. 79.88% of the stock is owned by institutional investors.
Public Storage Company Profile
Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
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