Shares of Public Storage (NYSE:PSA) have received an average rating of “Hold” from the seventeen research firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $209.00.
Several brokerages have weighed in on PSA. Barclays reissued a “hold” rating and set a $208.00 price objective on shares of Public Storage in a research note on Wednesday, August 8th. BMO Capital Markets reissued a “sell” rating and set a $194.00 price objective on shares of Public Storage in a research note on Wednesday, August 1st. Argus boosted their price objective on Public Storage to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, July 17th. Evercore ISI cut Public Storage from an “in-line” rating to an “underperform” rating and set a $217.00 price objective on the stock. in a research note on Monday, July 16th. They noted that the move was a valuation call. Finally, Citigroup boosted their price objective on Public Storage from $200.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, July 12th.
NYSE PSA traded up $1.10 during trading hours on Tuesday, hitting $216.30. 7,734 shares of the company were exchanged, compared to its average volume of 1,108,953. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.96 and a quick ratio of 0.96. Public Storage has a 52 week low of $180.48 and a 52 week high of $234.90. The stock has a market capitalization of $37.41 billion, a P/E ratio of 21.15, a PEG ratio of 4.11 and a beta of 0.26.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Wednesday, September 12th will be paid a dividend of $2.00 per share. The ex-dividend date is Tuesday, September 11th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.70%. Public Storage’s dividend payout ratio is 78.20%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PSA. Silvant Capital Management LLC bought a new position in shares of Public Storage during the first quarter valued at approximately $101,000. NuWave Investment Management LLC grew its stake in shares of Public Storage by 1,693.9% during the first quarter. NuWave Investment Management LLC now owns 592 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 559 shares during the last quarter. Signaturefd LLC bought a new position in shares of Public Storage during the first quarter valued at approximately $132,000. Kiley Juergens Wealth Management LLC bought a new position in shares of Public Storage during the second quarter valued at approximately $142,000. Finally, Quad Cities Investment Group LLC bought a new position in shares of Public Storage during the second quarter valued at approximately $151,000. 81.44% of the stock is currently owned by hedge funds and other institutional investors.
About Public Storage
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 March 31, 2018, we had interests in 2,392 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 223 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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