Public Storage (NYSE:PSA) has been assigned a consensus rating of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $203.58.
Several equities research analysts have recently issued reports on PSA shares. Jefferies Financial Group cut shares of Public Storage from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $202.00 to $175.00 in a research report on Thursday, December 13th. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. Finally, Citigroup reduced their price objective on shares of Public Storage from $235.00 to $202.00 and set a “hold” rating on the stock in a research report on Friday, October 5th.
Shares of NYSE:PSA opened at $200.92 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.29. Public Storage has a 1-year low of $180.48 and a 1-year high of $234.90. The company has a market cap of $34.56 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 3.84 and a beta of 0.24.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.85. The firm had revenue of $706.37 million for the quarter, compared to analysts’ expectations of $704.51 million. Public Storage had a net margin of 55.38% and a return on equity of 30.87%. During the same quarter last year, the business posted $1.61 earnings per share. On average, equities research analysts predict that Public Storage will post 10.54 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 27th. Investors of record on Wednesday, December 12th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend was Tuesday, December 11th. Public Storage’s dividend payout ratio is presently 78.20%.
In other Public Storage news, Director Gary E. Pruitt sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $203.35, for a total transaction of $1,016,750.00. Following the transaction, the director now owns 8,350 shares in the company, valued at $1,697,972.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Lily Yan Hughes sold 15,000 shares of the business’s stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $212.14, for a total transaction of $3,182,100.00. The disclosure for this sale can be found here. Insiders own 14.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. AMP Capital Investors Ltd increased its position in Public Storage by 2.2% during the third quarter. AMP Capital Investors Ltd now owns 228,308 shares of the real estate investment trust’s stock valued at $45,549,000 after acquiring an additional 4,976 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Public Storage by 1.2% during the second quarter. Glenmede Trust Co. NA now owns 41,752 shares of the real estate investment trust’s stock valued at $9,472,000 after purchasing an additional 476 shares during the period. Bridges Investment Management Inc. boosted its stake in shares of Public Storage by 11.9% during the second quarter. Bridges Investment Management Inc. now owns 3,223 shares of the real estate investment trust’s stock valued at $731,000 after purchasing an additional 344 shares during the period. Lourd Capital LLC purchased a new stake in shares of Public Storage during the third quarter valued at $529,000. Finally, Jane Street Group LLC boosted its stake in shares of Public Storage by 428.0% during the second quarter. Jane Street Group LLC now owns 8,775 shares of the real estate investment trust’s stock valued at $1,991,000 after purchasing an additional 7,113 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.
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 September 30, 2018, we had interests in 2,418 self-storage facilities located in 38 states with approximately 161 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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