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%.
TRADEMARK VIOLATION WARNING: This news story was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/01/16/public-storage-psa-receives-average-recommendation-of-hold-from-brokerages-2.html.
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.
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.