Several other research firms have also recently commented on PSA. BMO Capital Markets upgraded shares of Public Storage from a market perform rating to an outperform rating and decreased their target price for the stock from $410.00 to $370.00 in a research report on Thursday, May 19th. StockNews.com cut shares of Public Storage from a buy rating to a hold rating in a research report on Friday, June 10th. JPMorgan Chase & Co. upped their target price on shares of Public Storage from $385.00 to $434.00 and gave the stock an overweight rating in a research report on Monday, April 4th. Morgan Stanley decreased their target price on shares of Public Storage from $357.00 to $298.00 and set an equal weight rating for the company in a research report on Wednesday, May 25th. Finally, Raymond James decreased their target price on shares of Public Storage from $375.00 to $365.00 in a research report on Monday, May 23rd. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of Moderate Buy and a consensus target price of $372.00.
Shares of NYSE:PSA opened at $308.17 on Monday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 1.39. Public Storage has a fifty-two week low of $292.32 and a fifty-two week high of $421.76. The firm has a 50-day simple moving average of $338.21 and a 200 day simple moving average of $356.68. The company has a market cap of $54.07 billion, a PE ratio of 29.95, a P/E/G ratio of 2.76 and a beta of 0.29.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Tuesday, June 14th. Public Storage’s dividend payout ratio (DPR) is presently 77.75%.
Institutional investors have recently bought and sold shares of the company. MML Investors Services LLC lifted its stake in Public Storage by 5.2% during the third quarter. MML Investors Services LLC now owns 2,455 shares of the real estate investment trust’s stock valued at $729,000 after purchasing an additional 122 shares during the last quarter. LPL Financial LLC lifted its stake in Public Storage by 6.4% during the third quarter. LPL Financial LLC now owns 57,182 shares of the real estate investment trust’s stock valued at $16,989,000 after purchasing an additional 3,451 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Public Storage during the third quarter valued at approximately $227,000. Voloridge Investment Management LLC acquired a new stake in Public Storage during the third quarter valued at approximately $11,834,000. Finally, UBS Group AG lifted its stake in Public Storage by 43.8% during the third quarter. UBS Group AG now owns 173,733 shares of the real estate investment trust’s stock valued at $51,616,000 after purchasing an additional 52,889 shares during the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.
Public Storage Company Profile (Get Rating)
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. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.
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