Public Storage (NYSE:PSA) Sets New 12-Month High at $248.84

Shares of Public Storage (NYSE:PSA) reached a new 52-week high during trading on Tuesday . The company traded as high as $248.84 and last traded at $247.39, with a volume of 2474 shares trading hands. The stock had previously closed at $246.64.

A number of research firms have recently commented on PSA. Barclays set a €45.00 ($52.33) price objective on shares of Zalando and gave the company a “buy” rating in a research report on Tuesday, April 16th. Argus raised their target price on shares of Public Storage to $240.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. KeyCorp reaffirmed a “buy” rating and issued a $143.00 target price on shares of Microsoft in a research note on Tuesday, June 11th. ValuEngine downgraded shares of Verso from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of COMPASS GRP PLC/S in a research note on Tuesday, April 9th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $218.22.

The stock’s 50 day moving average is $240.82. The company has a market capitalization of $42.80 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 5.71 and a beta of 0.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $1.73 EPS for the quarter, missing the consensus estimate of $2.52 by ($0.79). The business had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $685.75 million. Public Storage had a return on equity of 34.73% and a net margin of 62.54%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $2.48 earnings per share. On average, equities research analysts anticipate that Public Storage will post 10.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Tuesday, June 11th. Public Storage’s dividend payout ratio (DPR) is presently 75.76%.

Several hedge funds have recently bought and sold shares of PSA. Norges Bank purchased a new position in shares of Public Storage during the fourth quarter worth approximately $299,869,000. Daiwa Securities Group Inc. raised its stake in shares of Public Storage by 190.7% during the first quarter. Daiwa Securities Group Inc. now owns 1,821,042 shares of the real estate investment trust’s stock worth $396,586,000 after acquiring an additional 1,194,522 shares in the last quarter. APG Asset Management N.V. raised its stake in shares of Public Storage by 254.7% during the fourth quarter. APG Asset Management N.V. now owns 843,235 shares of the real estate investment trust’s stock worth $149,306,000 after acquiring an additional 605,500 shares in the last quarter. Centersquare Investment Management LLC raised its stake in shares of Public Storage by 98.4% during the first quarter. Centersquare Investment Management LLC now owns 913,756 shares of the real estate investment trust’s stock worth $198,998,000 after acquiring an additional 453,207 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Public Storage by 289.4% during the first quarter. Janus Henderson Group PLC now owns 528,671 shares of the real estate investment trust’s stock worth $115,135,000 after acquiring an additional 392,914 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

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. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.

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