Jefferies Financial Group Cuts Public Storage (NYSE:PSA) Price Target to $330.00

Public Storage (NYSE:PSA) had its price objective reduced by Jefferies Financial Group from $345.00 to $330.00 in a research note issued to investors on Tuesday,MarketScreener reports. Jefferies Financial Group currently has a buy rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. Barclays lifted their target price on shares of Public Storage from $331.00 to $347.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price target on the stock. in a research report on Thursday, February 5th. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research report on Thursday, January 22nd. Finally, Truist Financial boosted their price target on shares of Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $308.22.

Public Storage Stock Up 0.7%

NYSE:PSA opened at $301.90 on Tuesday. The firm’s 50 day simple moving average is $291.70 and its 200 day simple moving average is $283.68. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75. Public Storage has a one year low of $256.54 and a one year high of $312.95. The company has a market cap of $52.99 billion, a PE ratio of 33.47, a P/E/G ratio of 4.02 and a beta of 1.02.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a $3.00 dividend. The ex-dividend date was Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. Public Storage’s payout ratio is 133.04%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Pacific Financial bought a new stake in shares of Public Storage in the 3rd quarter valued at $26,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Public Storage in the 3rd quarter valued at $27,000. Asset Dedication LLC increased its stake in shares of Public Storage by 111.1% in the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 50 shares in the last quarter. Bayban bought a new stake in shares of Public Storage in the 4th quarter valued at $26,000. Finally, Raiffeisen Bank International AG bought a new stake in shares of Public Storage in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.