Public Storage (NYSE:PSA) Given Consensus Rating of “Hold” by Brokerages

Shares of Public Storage (NYSE:PSA) have earned an average rating of “Hold” from the eighteen research firms that are covering the company, Marketbeat.com reports. Twelve equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $307.1250.

Several research firms recently issued reports on PSA. Wolfe Research cut Public Storage from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Mizuho dropped their price objective on Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Morgan Stanley assumed coverage on shares of Public Storage in a research report on Friday, December 5th. They set an “equal weight” rating and a $290.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research note on Thursday, January 22nd. Finally, Wall Street Zen cut shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th.

Institutional Trading of Public Storage

Several institutional investors and hedge funds have recently made changes to their positions in PSA. First Pacific Financial acquired a new position in shares of Public Storage in the 3rd quarter valued at $26,000. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage in the 3rd quarter worth $27,000. Asset Dedication LLC grew its stake in shares of Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 50 shares during the period. Bayban acquired a new stake in shares of Public Storage during the fourth quarter worth $26,000. Finally, Raiffeisen Bank International AG bought a new stake in Public Storage in the third quarter valued at about $30,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.1%

Shares of PSA opened at $298.11 on Wednesday. The business’s fifty day moving average price is $291.14 and its two-hundred day moving average price is $284.78. The firm has a market capitalization of $52.32 billion, a price-to-earnings ratio of 33.05, a PEG ratio of 6.03 and a beta of 0.99. Public Storage has a 52 week low of $256.54 and a 52 week high of $312.95. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a yield of 4.0%. Public Storage’s dividend payout ratio (DPR) is presently 133.04%.

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.