Investors Buy Shares of Public Storage (PSA) on Weakness

Traders purchased shares of Public Storage (NYSE:PSA) on weakness during trading on Friday. $178.13 million flowed into the stock on the tick-up and $52.65 million flowed out of the stock on the tick-down, for a money net flow of $125.48 million into the stock. Of all equities tracked, Public Storage had the 22nd highest net in-flow for the day. Public Storage traded down ($0.95) for the day and closed at $217.62

PSA has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Barclays restated a “hold” rating and issued a $215.00 price objective on shares of Public Storage in a report on Thursday, March 7th. Bank of America set a $230.00 price objective on shares of Public Storage and gave the stock a “hold” rating in a report on Friday, March 1st. Finally, Jefferies Financial Group lowered shares of Public Storage from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $202.00 to $175.00 in a report on Thursday, December 13th. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Public Storage currently has an average rating of “Hold” and a consensus price target of $206.50.

The company has a market cap of $38.09 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 4.38 and a beta of 0.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.97 and a current ratio of 0.97.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th will be paid a dividend of $2.00 per share. The ex-dividend date is Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 3.68%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Sage Capital Advisors llc purchased a new stake in shares of Public Storage in the 4th quarter worth $29,000. CNB Bank purchased a new stake in shares of Public Storage in the 4th quarter worth $42,000. JOYN Advisors Inc. increased its stake in shares of Public Storage by 38.9% in the 4th quarter. JOYN Advisors Inc. now owns 243 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 68 shares in the last quarter. Berman Capital Advisors LLC purchased a new stake in shares of Public Storage in the 4th quarter worth $51,000. Finally, HM Payson & Co. purchased a new stake in shares of Public Storage in the 4th quarter worth $73,000. Institutional investors and hedge funds own 80.16% of the company’s stock.

WARNING: “Investors Buy Shares of Public Storage (PSA) on Weakness” was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this story can be accessed at https://sportsperspectives.com/2019/03/15/investors-buy-shares-of-public-storage-psa-on-weakness-2.html.

Public Storage Company Profile (NYSE:PSA)

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 December 31, 2018, we had interests in 2,429 self-storage facilities located in 38 states with approximately 162 million net rentable square feet in the United States and we owned a 35.2% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR), which owned 232 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand.

Featured Article: No Load Funds

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.