Public Storage (PSA) Given Consensus Rating of “Hold” by Analysts
Public Storage (NYSE:PSA) has received a consensus rating of “Hold” from the nineteen analysts that are covering the stock. Four analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $242.33.
Several equities analysts recently weighed in on the stock. KeyCorp cut shares of Public Storage from a “sector weight” rating to an “underweight” rating and set a $230.00 price target on the stock. in a research report on Friday, July 15th. FBR & Co reaffirmed a “marketperform” rating and issued a $250.00 price target on shares of Public Storage in a research report on Wednesday, June 22nd. Bank of America Corp. cut shares of Public Storage from a “buy” rating to a “neutral” rating in a research report on Thursday, August 11th. Jefferies Group dropped their price target on shares of Public Storage from $270.00 to $245.00 and set a “hold” rating on the stock in a research report on Wednesday, August 10th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating on shares of Public Storage in a research report on Friday, August 26th.
In related news, insider John Reyes sold 30,000 shares of Public Storage stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $215.41, for a total value of $6,462,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WFG Advisors LP raised its position in Public Storage by 0.6% in the second quarter. WFG Advisors LP now owns 520 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 3 shares in the last quarter. Blue Chip Partners Inc. raised its position in Public Storage by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 596 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 4 shares in the last quarter. Quadrant Capital Group LLC raised its position in Public Storage by 1.2% in the second quarter. Quadrant Capital Group LLC now owns 516 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 6 shares in the last quarter. Bailard Inc. raised its position in Public Storage by 1.1% in the second quarter. Bailard Inc. now owns 942 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 10 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC raised its position in Public Storage by 2.1% in the second quarter. Jaffetilchin Investment Partners LLC now owns 833 shares of the real estate investment trust’s stock worth $213,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.
Public Storage (NYSE:PSA) traded up 0.23% during trading on Friday, hitting $214.73. The stock had a trading volume of 263,420 shares. The firm has a 50 day moving average price of $219.19 and a 200-day moving average price of $243.81. The firm has a market capitalization of $37.23 billion, a PE ratio of 33.98 and a beta of 0.61. Public Storage has a 1-year low of $207.06 and a 1-year high of $277.60.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $2.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.40 by $0.06. The company had revenue of $634.20 million for the quarter, compared to the consensus estimate of $607.28 million. Public Storage had a return on equity of 25.44% and a net margin of 52.53%. Public Storage’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $2.17 EPS. On average, equities research analysts expect that Public Storage will post $9.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Wednesday, September 14th were paid a $1.80 dividend. The ex-dividend date of this dividend was Monday, September 12th. This represents a $7.20 dividend on an annualized basis and a yield of 3.36%. Public Storage’s dividend payout ratio is 113.92%.
Public Storage Company Profile
Public Storage is a real estate investment trust. The Company’s 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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