Goldman Sachs Group cut shares of Public Storage (NYSE:PSA) from a neutral rating to a sell rating in a research note issued to investors on Wednesday, Marketbeat.com reports.

Several other brokerages have also issued reports on PSA. Evercore ISI lowered shares of Public Storage from an in-line rating to an underperform rating and set a $217.00 target price for the company. in a research report on Monday, July 16th. They noted that the move was a valuation call. ValuEngine lowered shares of Public Storage from a hold rating to a sell rating in a research report on Friday, May 18th. Jefferies Financial Group reiterated a neutral rating on shares of Public Storage in a research report on Thursday, April 26th. Barclays upped their target price on shares of Public Storage from $205.00 to $212.00 and gave the stock an equal weight rating in a research report on Tuesday, July 17th. Finally, Citigroup upped their target price on shares of Public Storage from $200.00 to $235.00 and gave the stock a neutral rating in a research report on Thursday, July 12th. Seven investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $208.33.

Shares of NYSE:PSA opened at $213.30 on Wednesday. Public Storage has a 52-week low of $180.48 and a 52-week high of $234.90. The firm has a market capitalization of $38.48 billion, a P/E ratio of 20.85, a P/E/G ratio of 4.23 and a beta of 0.26. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.29.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, August 1st. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.61 by ($0.61). Public Storage had a return on equity of 30.37% and a net margin of 55.00%. The company had revenue of $685.50 million during the quarter, compared to analysts’ expectations of $686.32 million. During the same quarter last year, the firm posted $2.51 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. sell-side analysts predict that Public Storage will post 10.52 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Wednesday, September 12th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.75%. The ex-dividend date is Tuesday, September 11th. Public Storage’s dividend payout ratio is presently 78.20%.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Public Storage by 1.5% in the second quarter. BlackRock Inc. now owns 15,383,796 shares of the real estate investment trust’s stock worth $3,489,967,000 after purchasing an additional 226,669 shares during the last quarter. FMR LLC lifted its stake in Public Storage by 19.9% in the second quarter. FMR LLC now owns 6,736,465 shares of the real estate investment trust’s stock worth $1,528,235,000 after purchasing an additional 1,116,634 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Public Storage by 14.7% in the first quarter. JPMorgan Chase & Co. now owns 3,962,477 shares of the real estate investment trust’s stock worth $794,040,000 after purchasing an additional 507,928 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Public Storage by 1.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,331,805 shares of the real estate investment trust’s stock worth $528,994,000 after purchasing an additional 22,925 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Public Storage by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,302,560 shares of the real estate investment trust’s stock worth $522,366,000 after purchasing an additional 35,097 shares during the last quarter. 82.31% of the stock is owned by institutional investors and hedge funds.

About Public Storage

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. The Company's headquarters are located in Glendale, California. At March 31, 2018, we had interests in 2,392 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 223 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the ?Shurgard? brand.

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Analyst Recommendations for Public Storage (NYSE:PSA)

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