Shares of Public Storage (NYSE:PSA – Get Rating) have been given a consensus rating of “Buy” by the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $372.91.
Several research firms have issued reports on PSA. Raymond James dropped their price target on shares of Public Storage from $375.00 to $365.00 in a research report on Monday, May 23rd. Morgan Stanley dropped their price target on shares of Public Storage from $357.00 to $298.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 25th. JPMorgan Chase & Co. upped their price target on shares of Public Storage from $385.00 to $434.00 and gave the stock an “overweight” rating in a research report on Monday, April 4th. Truist Financial dropped their price target on shares of Public Storage from $425.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, June 1st. Finally, The Goldman Sachs Group increased their price objective on shares of Public Storage from $398.00 to $440.00 and gave the company a “neutral” rating in a research report on Thursday, April 14th.
Shares of PSA stock opened at $298.54 on Tuesday. The company’s fifty day simple moving average is $346.36 and its 200-day simple moving average is $357.74. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 1.39. The firm has a market cap of $52.38 billion, a PE ratio of 29.01, a P/E/G ratio of 2.75 and a beta of 0.29. Public Storage has a 12 month low of $292.32 and a 12 month high of $421.76.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $8.00 dividend on an annualized basis and a yield of 2.68%. Public Storage’s payout ratio is 77.75%.
Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC acquired a new stake in Public Storage during the fourth quarter worth about $25,000. Mystic Asset Management Inc. acquired a new stake in Public Storage during the fourth quarter worth about $26,000. Lee Financial Co acquired a new stake in Public Storage during the fourth quarter worth about $27,000. CVA Family Office LLC acquired a new stake in Public Storage during the fourth quarter worth about $30,000. Finally, Investors Research Corp grew its stake in Public Storage by 102.5% during the first quarter. Investors Research Corp now owns 81 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.
About Public Storage (Get Rating)
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. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.
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