Public Storage (PSA) to Issue Quarterly Dividend of $2.00 on December 28th

Public Storage (NYSE:PSA) declared a quarterly dividend on Wednesday, October 25th, RTT News reports. Shareholders of record on Wednesday, December 13th will be given a dividend of 2.00 per share by the real estate investment trust on Thursday, December 28th. This represents a $8.00 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Tuesday, December 12th.

Public Storage has raised its dividend payment by an average of 12.3% per year over the last three years and has increased its dividend every year for the last 7 years. Public Storage has a payout ratio of 78.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Public Storage to earn $10.54 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 75.9%.

Public Storage (NYSE:PSA) opened at $210.84 on Monday. The firm has a market capitalization of $36,694.80, a PE ratio of 21.27, a PEG ratio of 4.52 and a beta of 0.43. Public Storage has a 52-week low of $192.15 and a 52-week high of $232.21.

In related news, insider John Reyes sold 60,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $212.24, for a total transaction of $12,734,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 14.42% of the company’s stock.

PSA has been the subject of several recent research reports. Jefferies Group set a $210.00 price objective on Public Storage and gave the stock a “hold” rating in a research report on Thursday, August 17th. Zacks Investment Research cut Public Storage from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. BMO Capital Markets initiated coverage on Public Storage in a research report on Monday, September 11th. They set an “underperform” rating and a $193.00 price objective for the company. KeyCorp reaffirmed a “sell” rating and set a $184.00 price objective on shares of Public Storage in a research report on Wednesday, September 13th. Finally, Evercore ISI reaffirmed an “underperform” rating and set a $204.00 price objective (up from $197.00) on shares of Public Storage in a research report on Thursday, September 14th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $210.25.

ILLEGAL ACTIVITY WARNING: This article was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://www.dispatchtribunal.com/2017/12/11/public-storage-psa-to-issue-quarterly-dividend-of-2-00-on-december-28th.html.

Public Storage Company Profile

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.

Dividend History for Public Storage (NYSE:PSA)

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply