B. Riley set a $190.00 target price on Public Storage (NYSE:PSA) in a research report released on Wednesday. The firm currently has a neutral rating on the real estate investment trust’s stock.
Several other equities research analysts have also recently issued reports on PSA. FBR & Co set a $220.00 price objective on shares of Public Storage and gave the stock a hold rating in a research report on Thursday, October 26th. BMO Capital Markets set a $193.00 price objective on shares of Public Storage and gave the stock a sell rating in a research report on Thursday, October 26th. Jefferies Group set a $212.00 price target on shares of Public Storage and gave the company a hold rating in a research report on Tuesday, November 28th. Barclays reiterated a hold rating and set a $201.00 price target on shares of Public Storage in a research report on Wednesday, January 31st. Finally, Bank of America cut shares of Public Storage from a neutral rating to an underperform rating and set a $212.00 price target for the company. in a research report on Monday, December 4th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $205.77.
Shares of Public Storage (NYSE PSA) opened at $190.75 on Wednesday. Public Storage has a 12-month low of $180.48 and a 12-month high of $232.21. The stock has a market cap of $32,425.58, a PE ratio of 18.61, a P/E/G ratio of 3.66 and a beta of 0.31.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.72 by $0.03. Public Storage had a net margin of 51.16% and a return on equity of 27.42%. The firm had revenue of $634.22 million during the quarter, compared to analysts’ expectations of $643.46 million. During the same period last year, the business earned $2.03 earnings per share. Public Storage’s revenue was up 3.3% compared to the same quarter last year. research analysts forecast that Public Storage will post 10.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, March 14th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.19%. Public Storage’s dividend payout ratio (DPR) is currently 118.69%.
In related news, Director Gary E. Pruitt sold 5,000 shares of Public Storage stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $212.09, for a total value of $1,060,450.00. Following the completion of the transaction, the director now owns 8,350 shares in the company, valued at $1,770,951.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Reyes sold 60,000 shares of Public Storage stock in a transaction that occurred on Friday, December 1st. The shares were 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. Insiders own 14.42% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB grew its holdings in shares of Public Storage by 7.1% in the fourth quarter. Xact Kapitalforvaltning AB now owns 27,535 shares of the real estate investment trust’s stock valued at $5,755,000 after purchasing an additional 1,817 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Public Storage by 12.3% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 60,421 shares of the real estate investment trust’s stock valued at $12,628,000 after purchasing an additional 6,605 shares in the last quarter. Sawtooth Solutions LLC acquired a new position in shares of Public Storage in the fourth quarter valued at approximately $304,000. Brookfield Asset Management Inc. grew its holdings in shares of Public Storage by 2.3% in the fourth quarter. Brookfield Asset Management Inc. now owns 715,044 shares of the real estate investment trust’s stock valued at $149,444,000 after purchasing an additional 16,100 shares in the last quarter. Finally, Altman Advisors Inc. acquired a new position in shares of Public Storage in the fourth quarter valued at approximately $1,926,000. Hedge funds and other institutional investors own 79.88% of the company’s stock.
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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.
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