Public Storage (NYSE:PSA) Given Average Recommendation of “Moderate Buy” by Brokerages

Public Storage (NYSE:PSAGet Rating) has received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $368.91.

A number of research analysts recently issued reports on PSA shares. Morgan Stanley decreased their price objective on Public Storage from $298.00 to $290.00 and set an “equal weight” rating for the company in a report on Thursday, October 13th. Raymond James lowered shares of Public Storage from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $365.00 to $380.00 in a research report on Tuesday, August 16th. StockNews.com initiated coverage on shares of Public Storage in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Citigroup reissued a “buy” rating and set a $367.00 price target on shares of Public Storage in a research report on Thursday, July 28th. Finally, Evercore ISI decreased their price objective on Public Storage from $333.00 to $327.00 and set an “in-line” rating for the company in a report on Monday, September 19th.

Insider Activity

In related news, Director Tamara Hughes Gustavson sold 830 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $353.09, for a total transaction of $293,064.70. Following the transaction, the director now directly owns 1,430 shares of the company’s stock, valued at approximately $504,918.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.00% of the company’s stock.

Institutional Trading of Public Storage

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall & Sullivan Inc. WA acquired a new stake in Public Storage during the second quarter worth approximately $26,000. American National Bank increased its stake in shares of Public Storage by 180.0% during the second quarter. American National Bank now owns 84 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 54 shares during the period. HHM Wealth Advisors LLC lifted its holdings in Public Storage by 65.6% during the 3rd quarter. HHM Wealth Advisors LLC now owns 101 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 40 shares during the last quarter. Private Ocean LLC acquired a new stake in Public Storage during the 3rd quarter worth approximately $31,000. Finally, Ronald Blue Trust Inc. bought a new stake in Public Storage in the 2nd quarter valued at $37,000. Institutional investors own 78.19% of the company’s stock.

Public Storage Trading Down 0.6 %

PSA opened at $289.10 on Friday. The stock has a market capitalization of $50.78 billion, a P/E ratio of 11.75, a P/E/G ratio of 2.52 and a beta of 0.40. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.17. Public Storage has a 12 month low of $270.73 and a 12 month high of $421.76. The firm’s fifty day simple moving average is $298.80 and its 200 day simple moving average is $315.88.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Wednesday, December 14th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Tuesday, December 13th. Public Storage’s dividend payout ratio (DPR) is presently 32.52%.

Public Storage Company Profile

(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.

Further Reading

Analyst Recommendations for Public Storage (NYSE:PSA)

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