Public Storage (NYSE:PSA) Given Consensus Recommendation of “Buy” by Analysts

Public Storage (NYSE:PSA) has been given a consensus rating of “Buy” by the fourteen analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $345.08.

Several brokerages have recently issued reports on PSA. Raymond James upgraded shares of Public Storage from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $350.00 to $375.00 in a research note on Thursday, December 2nd. Berenberg Bank began coverage on shares of Public Storage in a research note on Thursday, October 7th. They set a “hold” rating and a $321.00 price target on the stock. Citigroup upgraded shares of Public Storage from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $353.00 to $400.00 in a research note on Tuesday, December 14th. Zacks Investment Research downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $349.00 price target on the stock. in a research note on Friday, November 12th. Finally, Morgan Stanley lifted their price objective on Public Storage from $322.00 to $333.00 and gave the company an “equal weight” rating in a report on Monday, November 29th.

In other Public Storage news, Director Heisz Leslie Stone sold 9,045 shares of the business’s stock in a transaction that occurred on Wednesday, December 15th. The stock was sold at an average price of $362.26, for a total value of $3,276,641.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Nathaniel A. Vitan sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, December 6th. The shares were sold at an average price of $339.18, for a total value of $8,479,500.00. The disclosure for this sale can be found here. 10.87% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Amundi acquired a new stake in shares of Public Storage during the 2nd quarter worth $81,466,000. Xponance Inc. grew its holdings in shares of Public Storage by 18.8% during the 2nd quarter. Xponance Inc. now owns 21,520 shares of the real estate investment trust’s stock worth $6,471,000 after purchasing an additional 3,404 shares in the last quarter. Barclays PLC grew its holdings in shares of Public Storage by 0.6% during the 3rd quarter. Barclays PLC now owns 316,380 shares of the real estate investment trust’s stock worth $93,997,000 after purchasing an additional 1,923 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Public Storage by 6.1% during the 2nd quarter. MML Investors Services LLC now owns 2,333 shares of the real estate investment trust’s stock worth $702,000 after buying an additional 134 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of Public Storage by 5.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 40,132 shares of the real estate investment trust’s stock worth $11,923,000 after buying an additional 2,096 shares during the last quarter. Institutional investors and hedge funds own 77.19% of the company’s stock.

NYSE PSA opened at $361.79 on Friday. The company has a 50 day simple moving average of $348.41 and a 200-day simple moving average of $326.55. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.02 and a quick ratio of 2.02. The firm has a market capitalization of $63.44 billion, a price-to-earnings ratio of 43.22, a price-to-earnings-growth ratio of 3.11 and a beta of 0.22. Public Storage has a 52-week low of $218.58 and a 52-week high of $377.36.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Monday, November 1st. The real estate investment trust reported $2.52 earnings per share for the quarter, missing the consensus estimate of $3.23 by ($0.71). The business had revenue of $716.05 million for the quarter, compared to the consensus estimate of $858.76 million. Public Storage had a net margin of 52.00% and a return on equity of 34.52%. Public Storage’s revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.63 EPS. On average, analysts predict that Public Storage will post 12.8 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 30th. Investors of record on Wednesday, December 15th were given a $2.00 dividend. The ex-dividend date was Tuesday, December 14th. This represents a $8.00 annualized dividend and a dividend yield of 2.21%. Public Storage’s dividend payout ratio is presently 95.58%.

Public Storage Company Profile

Public Storage operates as a real estate investment trust. The firm engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, Investment in PS Business Parks and Investment in Shurgard. The Self-storage Operations segment reflects the rental operations from all self-storage facilities.

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Analyst Recommendations for Public Storage (NYSE:PSA)

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