Public Storage (PSA) To Go Ex-Dividend on December 15th

Public Storage (NYSE:PSA) declared a quarterly dividend on Tuesday, November 3rd. Investors of record on Tuesday, December 15th will be paid a dividend of $3.00 per share by the real estate investment trust on Friday, January 8th. This represents a $12.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, December 15th.

Public Storage has increased its dividend by an average of 0.1% annually over the last three years. Public Storage has a dividend payout ratio of 113.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Public Storage to earn $17.46 per share next year, which means the company should continue to be able to cover its $12.00 annual dividend with an expected future payout ratio of 68.7%.

Public Storage Price Performance

PSA stock opened at $342.56 on Thursday. The stock has a 50-day moving average price of $299.62 and a two-hundred day moving average price of $303.53. Public Storage has a 1 year low of $256.54 and a 1 year high of $343.63. The stock has a market cap of $64.00 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 4.93 and a beta of 0.89. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Public Storage had a net margin of 37.76% and a return on equity of 29.93%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $4.31 earnings per share. Equities analysts forecast that Public Storage will post 16.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PSA has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Public Storage from $338.00 to $330.00 and set a “neutral” rating on the stock in a research report on Monday, September 21st. Evercore set a $308.00 price target on shares of Public Storage in a research note on Monday, September 21st. Royal Bank Of Canada lifted their price objective on shares of Public Storage from $318.00 to $323.00 and gave the company a “sector perform” rating in a report on Wednesday, October 28th. Raymond James Financial assumed coverage on shares of Public Storage in a report on Thursday, July 16th. They issued a “market perform” rating on the stock. Finally, Barclays boosted their price objective on shares of Public Storage from $350.00 to $351.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 10th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $325.79.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.