Public Storage’s (PSA) Hold Rating Reaffirmed at SunTrust Banks, Inc.

SunTrust Banks, Inc. restated their hold rating on shares of Public Storage (NYSE:PSA) in a research report released on Friday, October 27th. They currently have a $200.00 price target on the real estate investment trust’s stock.

PSA has been the topic of several other research reports. BMO Capital Markets set a $193.00 price objective on shares of Public Storage and gave the company a sell rating in a report on Thursday, October 26th. FBR & Co set a $220.00 target price on shares of Public Storage and gave the stock a hold rating in a report on Thursday, October 26th. KeyCorp reiterated a sell rating and issued a $184.00 price objective on shares of Public Storage in a research note on Wednesday, September 13th. Evercore ISI reiterated an underperform rating and issued a $204.00 price objective (up previously from $197.00) on shares of Public Storage in a research note on Thursday, September 14th. Finally, Barclays PLC decreased their price objective on shares of Public Storage from $216.00 to $209.00 and set an equal weight rating for the company in a research note on Tuesday, July 18th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $212.45.

Shares of Public Storage (NYSE PSA) traded up $0.15 on Friday, reaching $211.52. 736,500 shares of the company’s stock were exchanged, compared to its average volume of 856,299. Public Storage has a twelve month low of $192.15 and a twelve month high of $232.21. The company has a market capitalization of $36,723.00, a PE ratio of 21.33, a P/E/G ratio of 4.42 and a beta of 0.43.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Tuesday, December 12th. Public Storage’s dividend payout ratio is presently 116.79%.

Institutional investors have recently bought and sold shares of the company. Covington Capital Management raised its position in Public Storage by 11.7% in the 2nd quarter. Covington Capital Management now owns 8,960 shares of the real estate investment trust’s stock worth $1,868,000 after purchasing an additional 937 shares during the period. Dimensional Fund Advisors LP grew its holdings in Public Storage by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,054,552 shares of the real estate investment trust’s stock worth $428,434,000 after acquiring an additional 57,277 shares during the last quarter. Nationwide Fund Advisors grew its holdings in Public Storage by 7.6% in the 2nd quarter. Nationwide Fund Advisors now owns 118,395 shares of the real estate investment trust’s stock worth $24,689,000 after acquiring an additional 8,410 shares during the last quarter. Amalgamated Bank grew its holdings in Public Storage by 56.1% in the 2nd quarter. Amalgamated Bank now owns 17,486 shares of the real estate investment trust’s stock worth $3,646,000 after acquiring an additional 6,283 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in Public Storage by 2.5% in the 2nd quarter. California Public Employees Retirement System now owns 349,501 shares of the real estate investment trust’s stock worth $72,881,000 after acquiring an additional 8,600 shares during the last quarter. Hedge funds and other institutional investors own 80.42% of the company’s stock.

About Public Storage

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.

Analyst Recommendations for Public Storage (NYSE:PSA)

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