Citigroup Lowers Public Storage (PSA) Price Target to $202.00

Public Storage (NYSE:PSA) had its price target decreased by Citigroup from $235.00 to $202.00 in a research report report published on Friday morning. Citigroup currently has a hold rating on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the company. Argus raised their target price on Public Storage to $250.00 and gave the company a buy rating in a report on Tuesday, July 17th. Barclays raised their target price on Public Storage from $205.00 to $212.00 and gave the company an equal weight rating in a report on Tuesday, July 17th. Goldman Sachs Group downgraded Public Storage from a neutral rating to a sell rating in a research report on Wednesday, August 22nd. BMO Capital Markets reaffirmed a sell rating and issued a $194.00 price target on shares of Public Storage in a research report on Wednesday, August 1st. Finally, Evercore ISI downgraded Public Storage from an in-line rating to an underperform rating and set a $217.00 price target on the stock. in a research report on Monday, July 16th. They noted that the move was a valuation call. Seven analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and an average target price of $206.13.

NYSE PSA opened at $199.01 on Friday. Public Storage has a fifty-two week low of $180.48 and a fifty-two week high of $234.90. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $35.13 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 3.86 and a beta of 0.19.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, August 1st. The real estate investment trust reported $2.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.61 by ($0.61). Public Storage had a net margin of 55.00% and a return on equity of 30.37%. The company had revenue of $685.50 million for the quarter, compared to the consensus estimate of $686.32 million. During the same quarter last year, the business earned $2.51 earnings per share. Public Storage’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts anticipate that Public Storage will post 10.53 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Wednesday, September 12th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Tuesday, September 11th. Public Storage’s dividend payout ratio is currently 78.20%.

In other news, CEO Ronald L. Havner, Jr. sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $211.54, for a total value of $21,154,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 14.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Kiley Juergens Wealth Management LLC acquired a new stake in Public Storage during the second quarter worth about $142,000. Quad Cities Investment Group LLC acquired a new stake in Public Storage during the second quarter worth about $151,000. Landaas & Co. WI ADV acquired a new stake in Public Storage during the second quarter worth about $156,000. Parallel Advisors LLC grew its position in Public Storage by 61.7% during the second quarter. Parallel Advisors LLC now owns 765 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 292 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in Public Storage during the second quarter worth about $199,000. 81.06% of the stock is currently owned by institutional investors and hedge funds.

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 June 30, 2018, we had interests in 2,402 self-storage facilities located in 38 states with approximately 160 million net rentable square feet in the United States and 228 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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Analyst Recommendations for Public Storage (NYSE:PSA)

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