Barclays Issues Positive Forecast for Public Storage (NYSE:PSA) Stock Price

Public Storage (NYSE:PSA) had its price objective increased by Barclays from $331.00 to $347.00 in a research note published on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

A number of other equities analysts also recently weighed in on PSA. Wall Street Zen downgraded Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. The Goldman Sachs Group reiterated a “buy” rating and set a $330.00 price target on shares of Public Storage in a report on Friday, February 20th. Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price objective on the stock. in a research report on Thursday, February 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $301.00 target price (down from $316.00) on shares of Public Storage in a research report on Thursday, December 18th. Finally, Morgan Stanley began coverage on Public Storage in a research note on Friday, December 5th. They set an “equal weight” rating and a $290.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $307.13.

Public Storage Stock Performance

NYSE PSA opened at $306.78 on Thursday. The company has a fifty day moving average price of $285.97 and a 200-day moving average price of $284.21. The firm has a market cap of $53.84 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 6.30 and a beta of 0.99. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75. Public Storage has a 1 year low of $256.54 and a 1 year high of $322.49.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $3.00 dividend. The ex-dividend date is Monday, March 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. Public Storage’s payout ratio is presently 133.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PSA. Bayban bought a new stake in Public Storage in the 4th quarter valued at about $26,000. SHP Wealth Management purchased a new position in shares of Public Storage in the fourth quarter worth about $47,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Public Storage by 45,500.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 456 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 455 shares in the last quarter. Reflection Asset Management bought a new stake in shares of Public Storage in the fourth quarter valued at approximately $39,000. Finally, Tobam lifted its stake in shares of Public Storage by 1,706.1% during the 4th quarter. Tobam now owns 2,980 shares of the real estate investment trust’s stock valued at $773,000 after buying an additional 2,815 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.