Public Storage (NYSE:PSA) Given Consensus Recommendation of “Hold” by Analysts

Shares of Public Storage (NYSE:PSA) have been assigned a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the stock, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $306.5294.

A number of equities analysts have commented on the stock. UBS Group cut their price target on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Evercore set a $302.00 price objective on shares of Public Storage in a report on Tuesday, February 17th. Wolfe Research lowered shares of Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. BMO Capital Markets reissued a “market perform” rating on shares of Public Storage in a research note on Monday, March 16th. Finally, JPMorgan Chase & Co. lowered their price target on Public Storage from $295.00 to $291.00 and set a “neutral” rating on the stock in a research report on Monday, March 23rd.

Public Storage Stock Up 0.2%

PSA stock opened at $280.93 on Friday. The company’s 50 day moving average is $289.02 and its 200 day moving average is $282.98. The stock has a market cap of $49.31 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 5.75 and a beta of 1.02. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.05. Public Storage has a 1-year low of $256.54 and a 1-year high of $312.95.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were given a dividend of $3.00 per share. The ex-dividend date was Monday, March 16th. This represents a $12.00 annualized dividend and a dividend yield of 4.3%. Public Storage’s dividend payout ratio is 133.04%.

Institutional Trading of Public Storage

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Public Storage by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock valued at $6,576,534,000 after acquiring an additional 2,274,397 shares during the last quarter. State Street Corp lifted its holdings in shares of Public Storage by 1.2% in the 2nd quarter. State Street Corp now owns 10,613,807 shares of the real estate investment trust’s stock worth $3,114,303,000 after acquiring an additional 126,113 shares during the last quarter. Norges Bank bought a new position in shares of Public Storage during the 4th quarter valued at $1,163,751,000. Capital International Investors grew its holdings in shares of Public Storage by 821.4% during the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after purchasing an additional 3,686,211 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Public Storage by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock worth $1,056,976,000 after purchasing an additional 66,445 shares during the period. Institutional investors own 78.79% of the company’s stock.

About Public Storage

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.