Public Storage (NYSE:PSA) Given New $327.00 Price Target at Evercore ISI

Public Storage (NYSE:PSAGet Rating) had its price target trimmed by Evercore ISI from $333.00 to $327.00 in a report issued on Monday, The Fly reports. The firm currently has an in-line rating on the real estate investment trust’s stock.

Several other analysts have also recently commented on PSA. UBS Group decreased their target price on Public Storage from $390.00 to $336.00 and set a neutral rating for the company in a research report on Monday, July 25th. Truist Financial reduced their price objective on Public Storage from $425.00 to $385.00 and set a buy rating on the stock in a report on Wednesday, June 1st. Morgan Stanley lowered their price objective on shares of Public Storage from $357.00 to $298.00 and set an equal weight rating for the company in a research report on Wednesday, May 25th. StockNews.com upgraded shares of Public Storage from a hold rating to a buy rating in a research note on Monday, September 12th. Finally, Jefferies Financial Group lowered their target price on shares of Public Storage from $465.00 to $369.00 and set a buy rating on the stock in a report on Thursday, June 30th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $365.58.

Public Storage Price Performance

Shares of NYSE PSA opened at $312.50 on Monday. Public Storage has a fifty-two week low of $292.32 and a fifty-two week high of $421.76. The business has a 50 day moving average price of $332.11 and a two-hundred day moving average price of $343.87. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 1.29. The firm has a market cap of $54.83 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.86 and a beta of 0.33.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.56%. The ex-dividend date is Tuesday, September 13th. Public Storage’s dividend payout ratio is currently 68.14%.

Insider Buying and Selling at Public Storage

In other news, Director John Reyes sold 51,637 shares of Public Storage stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $353.15, for a total value of $18,235,606.55. Following the completion of the transaction, the director now owns 175,449 shares in the company, valued at approximately $61,959,814.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Tamara Hughes Gustavson sold 203 shares of Public Storage stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $348.29, for a total value of $70,702.87. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at approximately $1,915,595. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Reyes sold 51,637 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $353.15, for a total value of $18,235,606.55. Following the sale, the director now owns 175,449 shares of the company’s stock, valued at approximately $61,959,814.35. The disclosure for this sale can be found here. Insiders sold a total of 52,670 shares of company stock valued at $18,599,374 in the last three months. 11.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Public Storage

Institutional investors have recently added to or reduced their stakes in the business. Mystic Asset Management Inc. purchased a new stake in Public Storage during the fourth quarter worth approximately $26,000. Marshall & Sullivan Inc. WA purchased a new stake in Public Storage during the second quarter worth approximately $26,000. American National Bank lifted its stake in Public Storage by 180.0% in the second quarter. American National Bank now owns 84 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 54 shares during the last quarter. Investors Research Corp lifted its stake in Public Storage by 102.5% in the first quarter. Investors Research Corp now owns 81 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 41 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its stake in Public Storage by 119.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 92 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

About Public Storage

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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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