Jefferies Group LLC restated their hold rating on shares of Public Storage (NYSE:PSA) in a research report sent to investors on Friday, July 14th. They currently have a $222.00 price objective on the real estate investment trust’s stock. Jefferies Group also issued estimates for Public Storage’s Q2 2017 earnings at $2.53 EPS and FY2018 earnings at $10.80 EPS.
Several other research firms have also commented on PSA. Cantor Fitzgerald reiterated a hold rating and issued a $222.00 price target on shares of Public Storage in a research report on Monday, March 20th. BMO Capital Markets reiterated a hold rating and issued a $210.00 price target on shares of Public Storage in a research report on Wednesday, March 22nd. Barclays PLC boosted their target price on Public Storage from $222.00 to $224.00 and gave the company an equal weight rating in a research report on Wednesday, April 19th. Zacks Investment Research downgraded shares of Public Storage from a hold rating to a sell rating in a research note on Friday, May 12th. Finally, BidaskClub raised shares of Public Storage from a strong sell rating to a sell rating in a research note on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $224.67.
Public Storage (NYSE:PSA) traded up 2.30% during trading on Friday, reaching $202.84. The company had a trading volume of 1,490,254 shares. The firm’s 50-day moving average price is $208.61 and its 200 day moving average price is $216.53. The firm has a market capitalization of $35.26 billion, a P/E ratio of 28.81 and a beta of 0.41. Public Storage has a one year low of $192.15 and a one year high of $243.94.
Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.54 by $0.95. Public Storage had a return on equity of 27.74% and a net margin of 54.13%. The firm had revenue of $624.20 million during the quarter, compared to the consensus estimate of $626.27 million. During the same period last year, the firm posted $2.40 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts forecast that Public Storage will post $7.45 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Wednesday, September 13th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, September 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.94%. Public Storage’s payout ratio is currently 113.96%.
In other news, insider John Reyes sold 65,000 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $208.44, for a total value of $13,548,600.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 14.42% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Gulf International Bank UK Ltd raised its position in Public Storage by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 46,110 shares of the real estate investment trust’s stock worth $10,093,000 after buying an additional 600 shares in the last quarter. Creative Planning raised its position in Public Storage by 0.3% in the first quarter. Creative Planning now owns 9,099 shares of the real estate investment trust’s stock worth $1,992,000 after buying an additional 25 shares in the last quarter. Curbstone Financial Management Corp raised its position in Public Storage by 29.6% in the first quarter. Curbstone Financial Management Corp now owns 1,312 shares of the real estate investment trust’s stock worth $287,000 after buying an additional 300 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in Public Storage by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 128,787 shares of the real estate investment trust’s stock worth $28,193,000 after buying an additional 4,148 shares in the last quarter. Finally, Private Asset Management Inc. raised its position in Public Storage by 6.3% in the first quarter. Private Asset Management Inc. now owns 1,680 shares of the real estate investment trust’s stock worth $368,000 after buying an additional 100 shares in the last quarter. Institutional investors own 79.63% of the company’s stock.
Public Storage Company Profile
Public Storage is a real estate investment trust (REIT). The Company’s principal 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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