Public Storage (NYSE:PSA) reached a new 52-week high during trading on Thursday . The company traded as high as $220.50 and last traded at $219.69, with a volume of 14498 shares trading hands. The stock had previously closed at $218.30.
A number of equities research analysts have commented on PSA shares. Bank of America upgraded Public Storage from an “underperform” rating to a “neutral” rating and set a $212.00 target price on the stock in a research report on Tuesday, February 27th. ValuEngine downgraded Public Storage from a “hold” rating to a “sell” rating in a research report on Friday, May 18th. Jefferies Financial Group restated a “neutral” rating on shares of Public Storage in a research report on Thursday, April 26th. Cantor Fitzgerald set a $213.00 target price on Public Storage and gave the company a “hold” rating in a research report on Monday, March 12th. Finally, Barclays restated a “hold” rating and issued a $203.00 target price on shares of Public Storage in a research report on Tuesday, April 17th. Seven analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $204.20.
The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 0.21. The firm has a market cap of $38.65 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 4.19 and a beta of 0.30.
Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, April 25th. The real estate investment trust reported $1.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by ($0.02). The firm had revenue of $669.90 million during the quarter, compared to analysts’ expectations of $598.28 million. Public Storage had a net margin of 50.72% and a return on equity of 27.68%. Public Storage’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.37 EPS. analysts expect that Public Storage will post 10.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Wednesday, June 13th will be issued a $2.00 dividend. The ex-dividend date is Tuesday, June 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.54%. Public Storage’s dividend payout ratio is presently 78.20%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Silvant Capital Management LLC acquired a new position in Public Storage during the 1st quarter worth $101,000. Tower Research Capital LLC TRC grew its stake in Public Storage by 841.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 527 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 471 shares in the last quarter. NuWave Investment Management LLC grew its stake in Public Storage by 1,693.9% during the 1st quarter. NuWave Investment Management LLC now owns 592 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 559 shares in the last quarter. Truewealth LLC acquired a new position in Public Storage during the 4th quarter worth $127,000. Finally, Signaturefd LLC acquired a new position in Public Storage during the 1st quarter worth $132,000. 81.20% of the stock is owned by hedge funds and other institutional investors.
Public Storage Company Profile
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California. At March 31, 2018, we had interests in 2,392 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 223 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the ?Shurgard? brand.
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