Scotiabank Issues Positive Forecast for Public Storage (NYSE:PSA) Stock Price

Public Storage (NYSE:PSA) had its target price boosted by Scotiabank from $319.00 to $321.00 in a report issued on Monday morning,Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently weighed in on PSA. Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price target for the company. in a report on Thursday, February 5th. Mizuho lowered their target price on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a research note on Friday, December 5th. Deutsche Bank Aktiengesellschaft cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target for the company. in a research report on Tuesday, January 20th. Wolfe Research downgraded shares of Public Storage from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Finally, UBS Group decreased their price objective on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Public Storage has a consensus rating of “Hold” and an average price target of $306.53.

Public Storage Price Performance

PSA stock opened at $271.26 on Monday. Public Storage has a 52-week low of $256.54 and a 52-week high of $312.95. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05. The stock has a market cap of $47.61 billion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 5.37 and a beta of 0.99. The business has a fifty day moving average of $291.99 and a two-hundred day moving average of $284.18.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 annualized dividend and a yield of 4.4%. Public Storage’s dividend payout ratio (DPR) is 133.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Pacific Financial purchased a new stake in Public Storage during the 3rd quarter worth about $26,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Public Storage in the 3rd quarter valued at about $27,000. Asset Dedication LLC increased its holdings in shares of Public Storage by 111.1% in the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 50 shares during the last quarter. Bayban acquired a new stake in shares of Public Storage during the 4th quarter worth about $26,000. Finally, Raiffeisen Bank International AG purchased a new stake in Public Storage during the third quarter worth approximately $30,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.