Public Storage (PSA) Sets New 1-Year High at $220.50

Public Storage (NYSE:PSA) shares hit a new 52-week high on Thursday . The company traded as high as $220.50 and last traded at $219.69, with a volume of 14498 shares trading hands. The stock had previously closed at $218.30.

PSA has been the topic of a number of research reports. B. Riley set a $190.00 price objective on Public Storage and gave the company a “neutral” rating in a report on Wednesday, February 21st. Cantor Fitzgerald reissued a “hold” rating and issued a $213.00 price objective on shares of Public Storage in a report on Wednesday, February 21st. Bank of America raised Public Storage from an “underperform” rating to a “neutral” rating and set a $212.00 price objective on the stock in a report on Tuesday, February 27th. Citigroup cut their price objective on Public Storage from $220.00 to $200.00 and set a “neutral” rating on the stock in a report on Thursday, March 1st. Finally, Jefferies Financial Group set a $199.00 price objective on Public Storage and gave the company a “hold” rating in a report on Monday, March 5th. Seven research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $204.20.

The firm has a market capitalization of $37.82 billion, a P/E ratio of 21.55, a PEG ratio of 4.10 and a beta of 0.30.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, April 25th. The real estate investment trust reported $1.65 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.02). The company had revenue of $669.90 million for the quarter, compared to analyst estimates of $598.28 million. Public Storage had a return on equity of 27.68% and a net margin of 50.72%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $2.37 earnings per share. equities research analysts expect that Public Storage will post 10.56 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Wednesday, June 13th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 3.62%. The ex-dividend date is Tuesday, June 12th. Public Storage’s dividend payout ratio (DPR) is 78.20%.

A number of institutional investors have recently bought and sold shares of PSA. Silvant Capital Management LLC purchased a new position in Public Storage during the first quarter worth approximately $101,000. Tower Research Capital LLC TRC boosted its position in Public Storage by 841.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 527 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 471 shares in the last quarter. NuWave Investment Management LLC boosted its position in Public Storage by 1,693.9% during the first quarter. NuWave Investment Management LLC now owns 592 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 559 shares in the last quarter. Truewealth LLC purchased a new position in Public Storage during the fourth quarter worth approximately $127,000. Finally, Signaturefd LLC purchased a new position in Public Storage during the first quarter worth approximately $132,000. 81.20% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California. At March 31, 2018, we had interests in 2,392 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 223 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the ?Shurgard? brand.

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