Public Storage (PSA) Receives Average Recommendation of “Hold” from Brokerages

Shares of Public Storage (NYSE:PSA) have earned a consensus rating of “Hold” from the fifteen research firms that are presently covering the firm, Marketbeat.com reports. Seven equities research 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 average twelve-month price target among brokers that have issued a report on the stock in the last year is $209.38.

PSA has been the subject of several analyst reports. B. Riley restated a “neutral” rating on shares of Public Storage in a research note on Wednesday, November 1st. Bank of America downgraded shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 target price for the company. in a research note on Monday, December 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. Barclays restated a “hold” rating and issued a $207.00 target price on shares of Public Storage in a research note on Thursday, October 19th. Finally, BMO Capital Markets initiated coverage on shares of Public Storage in a research note on Monday, September 11th. They issued an “underperform” rating and a $193.00 target price for the company.

In other Public Storage news, Director Gary E. Pruitt sold 5,000 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the sale, the director now directly owns 8,350 shares of the company’s stock, valued at $1,770,951.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Reyes sold 60,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $212.24, for a total transaction of $12,734,400.00. The disclosure for this sale can be found here. Corporate insiders own 14.42% of the company’s stock.

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Public Storage by 3.4% during the second quarter. Vanguard Group Inc. now owns 22,057,097 shares of the real estate investment trust’s stock worth $4,599,567,000 after acquiring an additional 727,573 shares during the last quarter. BlackRock Inc. boosted its position in shares of Public Storage by 3.5% during the 2nd quarter. BlackRock Inc. now owns 14,657,306 shares of the real estate investment trust’s stock valued at $3,056,489,000 after purchasing an additional 489,998 shares in the last quarter. APG Asset Management US Inc. boosted its position in shares of Public Storage by 8.3% during the 3rd quarter. APG Asset Management US Inc. now owns 4,563,523 shares of the real estate investment trust’s stock valued at $976,548,000 after purchasing an additional 350,712 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Public Storage by 41.3% during the third quarter. JPMorgan Chase & Co. now owns 4,466,228 shares of the real estate investment trust’s stock valued at $950,191,000 after buying an additional 1,304,669 shares in the last quarter. Finally, Capital World Investors lifted its stake in Public Storage by 93.3% during the second quarter. Capital World Investors now owns 4,036,000 shares of the real estate investment trust’s stock valued at $841,627,000 after buying an additional 1,948,000 shares in the last quarter. 80.64% of the stock is currently owned by institutional investors.

Public Storage (NYSE PSA) traded down $0.24 on Monday, reaching $209.00. 620,000 shares of the company’s stock traded hands, compared to its average volume of 840,972. Public Storage has a 12 month low of $192.15 and a 12 month high of $232.21. The stock has a market capitalization of $36,374.57, a P/E ratio of 30.51, a P/E/G ratio of 4.48 and a beta of 0.44.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were issued a $2.00 dividend. The ex-dividend date was Tuesday, December 12th. This represents a $8.00 annualized dividend and a yield of 3.83%. Public Storage’s dividend payout ratio is presently 116.79%.

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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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