Public Storage (NYSE:PSA) has been assigned an average recommendation of “Hold” from the seventeen brokerages that are presently covering the company. Two equities research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $239.65.

A number of equities research analysts have issued reports on PSA shares. KeyCorp reduced their price objective on shares of Public Storage from $220.00 to $205.00 and set an “underweight” rating for the company in a research report on Monday, September 12th. Zacks Investment Research downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Public Storage in a research report on Friday, August 26th. Argus reaffirmed a “buy” rating and issued a $270.00 price objective (down from $284.00) on shares of Public Storage in a research report on Wednesday, November 16th. Finally, FBR & Co reduced their price objective on shares of Public Storage from $250.00 to $225.00 and set a “market perform” rating for the company in a research report on Thursday, October 27th.

Shares of Public Storage (NYSE:PSA) opened at 205.10 on Friday. Public Storage has a 52-week low of $200.65 and a 52-week high of $277.60. The stock has a 50 day moving average of $210.74 and a 200-day moving average of $232.51. The firm has a market capitalization of $35.57 billion, a P/E ratio of 31.41 and a beta of 0.47.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, October 26th. The real estate investment trust reported $2.51 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $2.51. Public Storage had a net margin of 52.71% and a return on equity of 26.05%. The business earned $663.15 million during the quarter, compared to the consensus estimate of $624.13 million. During the same period in the prior year, the firm posted $2.33 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts expect that Public Storage will post $9.64 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Wednesday, December 14th will be paid a $2.00 dividend. The ex-dividend date is Monday, December 12th. This is a boost from Public Storage’s previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a yield of 3.90%. Public Storage’s dividend payout ratio is currently 110.43%.

In other Public Storage news, insider John Reyes sold 60,000 shares of the stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $216.32, for a total value of $12,979,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tamara Hughes Gustavson bought 69,763 shares of the stock in a transaction on Friday, November 11th. The stock was purchased at an average price of $214.98 per share, for a total transaction of $14,997,649.74. Following the completion of the purchase, the director now directly owns 16,396,449 shares in the company, valued at $3,524,908,606.02. The disclosure for this purchase can be found here. 14.20% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. A.R.T. Advisors LLC boosted its stake in Public Storage by 76.0% in the first quarter. A.R.T. Advisors LLC now owns 9,030 shares of the real estate investment trust’s stock valued at $2,490,000 after buying an additional 3,900 shares during the period. Babson Capital Management LLC boosted its stake in Public Storage by 60.2% in the first quarter. Babson Capital Management LLC now owns 8,440 shares of the real estate investment trust’s stock valued at $2,328,000 after buying an additional 3,170 shares during the period. Arizona State Retirement System boosted its stake in Public Storage by 1.7% in the first quarter. Arizona State Retirement System now owns 76,255 shares of the real estate investment trust’s stock valued at $21,033,000 after buying an additional 1,300 shares during the period. Royal Bank of Canada boosted its stake in Public Storage by 47.7% in the first quarter. Royal Bank of Canada now owns 239,763 shares of the real estate investment trust’s stock valued at $66,133,000 after buying an additional 77,475 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Public Storage by 16.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,451 shares of the real estate investment trust’s stock valued at $4,803,000 after buying an additional 2,416 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

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About Public Storage

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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