Public Storage (NYSE:PSA) has been given an average rating of “Hold” by the seventeen brokerages that are presently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $204.47.
A number of research analysts have recently commented on the stock. KeyCorp set a $179.00 target price on shares of Public Storage and gave the stock a “sell” rating in a research report on Thursday. Jefferies Group set a $212.00 target price on shares of Public Storage and gave the stock a “hold” rating in a research report on Tuesday, November 28th. Morgan Stanley cut shares of Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 target price on the stock. in a research report on Wednesday, December 13th. Citigroup reduced their target price on shares of Public Storage from $220.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, March 1st. Finally, Wells Fargo reissued a “hold” rating and set a $210.00 target price (down from $225.00) on shares of Public Storage in a research report on Thursday. They noted that the move was a valuation call.
Public Storage (NYSE:PSA) traded up $2.84 during midday trading on Friday, hitting $198.01. 1,136,318 shares of the stock were exchanged, compared to its average volume of 1,055,540. Public Storage has a twelve month low of $180.48 and a twelve month high of $232.21. The firm has a market capitalization of $34,001.54, a PE ratio of 29.38, a P/E/G ratio of 3.86 and a beta of 0.31.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, March 14th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.04%. Public Storage’s dividend payout ratio (DPR) is presently 118.69%.
In related news, SVP Lily Yan Hughes sold 443 shares of Public Storage stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $194.53, for a total value of $86,176.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.42% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. increased its stake in Public Storage by 4.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,295 shares of the real estate investment trust’s stock valued at $1,347,000 after purchasing an additional 254 shares during the last quarter. Morris Capital Advisors LLC grew its position in shares of Public Storage by 11.5% during the fourth quarter. Morris Capital Advisors LLC now owns 2,565 shares of the real estate investment trust’s stock worth $536,000 after acquiring an additional 264 shares during the last quarter. Pinebridge Investments L.P. grew its position in shares of Public Storage by 9.6% during the third quarter. Pinebridge Investments L.P. now owns 3,083 shares of the real estate investment trust’s stock worth $659,000 after acquiring an additional 270 shares during the last quarter. AE Wealth Management LLC grew its position in shares of Public Storage by 18.1% during the fourth quarter. AE Wealth Management LLC now owns 1,812 shares of the real estate investment trust’s stock worth $379,000 after acquiring an additional 278 shares during the last quarter. Finally, Piedmont Investment Advisors LLC grew its position in shares of Public Storage by 0.9% during the third quarter. Piedmont Investment Advisors LLC now owns 32,570 shares of the real estate investment trust’s stock worth $6,970,000 after acquiring an additional 294 shares during the last quarter. Hedge funds and other institutional investors own 81.75% of the company’s stock.
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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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