Analysts Set Public Storage (NYSE:PSA) Price Target at $211.88
Shares of Public Storage (NYSE:PSA) have earned a consensus rating of “Hold” from the eleven research firms that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $218.22.
PSA has been the topic of several research reports. Bank of America set a $230.00 price target on shares of Public Storage and gave the company a “hold” rating in a report on Friday, March 1st. Barclays reaffirmed a “hold” rating and set a $215.00 price target on shares of Public Storage in a report on Thursday, March 7th. Jefferies Financial Group raised shares of Public Storage from an “underperform” rating to a “hold” rating and lifted their price target for the company from $181.00 to $201.00 in a report on Tuesday, April 9th. Argus lifted their price target on shares of Public Storage to $240.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Finally, ValuEngine raised shares of Public Storage from a “hold” rating to a “buy” rating in a report on Thursday, May 23rd.
Institutional investors and hedge funds have recently bought and sold shares of the business. Sage Capital Advisors llc bought a new stake in Public Storage during the 4th quarter worth approximately $29,000. Oregon Public Employees Retirement Fund grew its holdings in Public Storage by 18,823.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,180,090 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 7,142,148 shares during the last quarter. Aspire Private Capital LLC grew its holdings in Public Storage by 232.0% during the 1st quarter. Aspire Private Capital LLC now owns 166 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Liberty Wealth Management LLC bought a new stake in Public Storage during the 4th quarter worth approximately $37,000. Finally, CNB Bank bought a new stake in Public Storage during the 4th quarter worth approximately $42,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.
Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.52 by ($0.79). The company had revenue of $689.00 million for the quarter, compared to the consensus estimate of $685.75 million. Public Storage had a net margin of 62.54% and a return on equity of 34.73%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $2.48 earnings per share. Equities research analysts forecast that Public Storage will post 10.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 12th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, June 11th. Public Storage’s dividend payout ratio (DPR) is presently 75.76%.
Public Storage Company Profile
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 March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 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 231 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 March 31, 2019.
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